Hitchwood Capital Management Lp Lowers stake in AmerisourceBergen Corp. (ABC)

AmerisourceBergen Corp. (ABC) : Hitchwood Capital Management Lp reduced its stake in AmerisourceBergen Corp. by 31.03% during the most recent quarter end. The investment management company now holds a total of 4,000,000 shares of AmerisourceBergen Corp. which is valued at $355,640,000 after selling 1,800,000 shares in AmerisourceBergen Corp. , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.AmerisourceBergen Corp. makes up approximately 10.98% of Hitchwood Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Jacobs Levy Equity Management Inc reduced its stake in ABC by selling 7,270 shares or 2.07% in the most recent quarter. The Hedge Fund company now holds 344,407 shares of ABC which is valued at $30,621,226. AmerisourceBergen Corp. makes up approx 0.60% of Jacobs Levy Equity Management Inc’s portfolio.First Mercantile Trust Co reduced its stake in ABC by selling 10,612 shares or 54.74% in the most recent quarter. The Hedge Fund company now holds 8,774 shares of ABC which is valued at $780,096. AmerisourceBergen Corp. makes up approx 0.09% of First Mercantile Trust Co’s portfolio.Global X Management Co boosted its stake in ABC in the latest quarter, The investment management firm added 47 additional shares and now holds a total of 570 shares of AmerisourceBergen Corp. which is valued at $50,702. Van Den Berg Management I Inc added ABC to its portfolio by purchasing 106,490 company shares during the most recent quarter which is valued at $9,514,882. AmerisourceBergen Corp. makes up approx 1.18% of Van Den Berg Management I Inc’s portfolio.Financial Architects Inc boosted its stake in ABC in the latest quarter, The investment management firm added 436 additional shares and now holds a total of 1,092 shares of AmerisourceBergen Corp. which is valued at $93,279. AmerisourceBergen Corp. makes up approx 0.03% of Financial Architects Inc’s portfolio.

AmerisourceBergen Corp. opened for trading at $87.01 and hit $87.72 on the upside on Thursday, eventually ending the session at $87.15, with a gain of 0.21% or 0.18 points. The heightened volatility saw the trading volume jump to 13,31,095 shares. Company has a market cap of $18,714 M.

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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