Barrett Asset Management Lowers stake in AmerisourceBergen Corp. (ABC)

AmerisourceBergen Corp. (ABC) : Barrett Asset Management reduced its stake in AmerisourceBergen Corp. by 3.59% during the most recent quarter end. The investment management company now holds a total of 188,581 shares of AmerisourceBergen Corp. which is valued at $16,338,658 after selling 7,030 shares in AmerisourceBergen Corp. , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.AmerisourceBergen Corp. makes up approximately 1.36% of Barrett Asset Management’s portfolio.

Other Hedge Funds, Including , 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.Chevy Chase Trust Holdings reduced its stake in ABC by selling 9,538 shares or 4.72% in the most recent quarter. The Hedge Fund company now holds 192,451 shares of ABC which is valued at $15,765,586. AmerisourceBergen Corp. makes up approx 0.09% of Chevy Chase Trust Holdings’s portfolio.Osborn Rohs Williams Donohoe Ltd boosted its stake in ABC in the latest quarter, The investment management firm added 147 additional shares and now holds a total of 12,306 shares of AmerisourceBergen Corp. which is valued at $1,008,108. AmerisourceBergen Corp. makes up approx 0.19% of Osborn Rohs Williams Donohoe Ltd’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in ABC by selling 178,840 shares or 55.75% in the most recent quarter. The Hedge Fund company now holds 141,977 shares of ABC which is valued at $11,630,756. AmerisourceBergen Corp. makes up approx 0.05% of Bnp Paribas Arbitrage Sa’s portfolio.

AmerisourceBergen Corp. opened for trading at $86.39 and hit $87.05 on the upside on Wednesday, eventually ending the session at $86.64, with a gain of 0.84% or 0.72 points. The heightened volatility saw the trading volume jump to 12,48,823 shares. Company has a market cap of $18,702 M.

On the company’s financial health, AmerisourceBergen Corp. reported $1.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on May 5, 2016. Analyst had a consensus of $1.58. The company had revenue of $35698.36 million for the quarter, compared to analysts expectations of $35804.35 million. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 EPS.

Many Wall Street Analysts have commented on AmerisourceBergen Corp.. AmerisourceBergen Corp. was Resumed by BofA/Merrill to “Neutral” on Jun 7, 2016. Shares were Reiterated by RBC Capital Mkts on May 6, 2016 to “Outperform” and Lowered the Price Target to $ 85 from a previous price target of $100 .Shares were Reiterated by FBR Capital on May 6, 2016 to “Mkt Perform” and Lowered the Price Target to $ 84 from a previous price target of $100 .

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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