Nine Chapters Capital Management Lowers stake in AmerisourceBergen Corp. (ABC)

AmerisourceBergen Corp. (ABC) : Nine Chapters Capital Management reduced its stake in AmerisourceBergen Corp. by 85.64% during the most recent quarter end. The investment management company now holds a total of 2,700 shares of AmerisourceBergen Corp. which is valued at $239,409 after selling 16,100 shares in AmerisourceBergen Corp. , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.AmerisourceBergen Corp. makes up approximately 4.58% of Nine Chapters Capital Management’s portfolio.

Other Hedge Funds, Including , First Personal Financial Services added ABC to its portfolio by purchasing 16 company shares during the most recent quarter which is valued at $1,419.I.g. Investment Management Ltd. boosted its stake in ABC in the latest quarter, The investment management firm added 46,031 additional shares and now holds a total of 80,722 shares of AmerisourceBergen Corp. which is valued at $7,212,511. AmerisourceBergen Corp. makes up approx 0.03% of I.g. Investment Management Ltd.’s portfolio. Dana Investment Advisors sold out all of its stake in ABC during the most recent quarter. The investment firm sold 96,751 shares of ABC which is valued $8,644,702.Mu Investments Ltd. reduced its stake in ABC by selling 1,300 shares or 40.63% in the most recent quarter. The Hedge Fund company now holds 1,900 shares of ABC which is valued at $162,298. AmerisourceBergen Corp. makes up approx 0.11% of Mu Investments Ltd.’s portfolio.Capital Analysts reduced its stake in ABC by selling 18,246 shares or 98.8% in the most recent quarter. The Hedge Fund company now holds 221 shares of ABC which is valued at $19,013.

AmerisourceBergen Corp. closed down -0.52 points or -0.58% at $88.94 with 14,96,073 shares getting traded on Wednesday. Post opening the session at $89.29, the shares hit an intraday low of $88.36 and an intraday high of $89.52 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, AmerisourceBergen Corp. reported $1.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $1.27. The company had revenue of $36900.00 million for the quarter, compared to analysts expectations of $36705.18 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS.

Many Wall Street Analysts have commented on AmerisourceBergen Corp.. Company shares were Reiterated by Mizuho on Aug 11, 2016 to “Neutral”, Firm has raised the Price Target to $ 90 from a previous price target of $80 .Company shares were Reiterated by FBR Capital on Aug 3, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 90 from a previous price target of $84 .Company shares were Reiterated by Barclays on Aug 3, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 89 from a previous price target of $83 .

AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company operates through two segments: Pharmaceutical Distribution and Other. The Company also provides data and other services to its manufacturing customers. The Company provides services to healthcare providers and pharmaceutical and biotech manufacturers. The Company provides pharmacy services to certain specialty drug patients. Additionally the Company offers healthcare providers and pharmaceutical manufacturers with services including reimbursement and pharmaceutical consulting services logistics services inventory management pharmacy automation and pharmacy management. The Company has a distribution facility network totaling approximately 30 distribution facilities in the United States.

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