Sarasin Partners Llp adds AmerisourceBergen Corp. (ABC) to its portfolio

AmerisourceBergen Corp. (ABC) : Sarasin Partners Llp added new position in AmerisourceBergen Corp. during the most recent quarter end. The investment management firm now holds 1,208,708 shares of AmerisourceBergen Corp. which is valued at $96,442,811 , the company said in a statement filed on Oct 14, 2016 with the SEC.AmerisourceBergen Corp. makes up approximately 1.54% of Sarasin Partners Llp’s portfolio.

Other Hedge Funds, Including , Torch Wealth Management reduced its stake in ABC by selling 250 shares or 1.35% in the most recent quarter. The Hedge Fund company now holds 18,275 shares of ABC which is valued at $1,468,945. AmerisourceBergen Corp. makes up approx 1.08% of Torch Wealth Management’s portfolio.Fisher Asset Management reduced its stake in ABC by selling 13,708 shares or 13.94% in the most recent quarter. The Hedge Fund company now holds 84,606 shares of ABC which is valued at $6,738,022. AmerisourceBergen Corp. makes up approx 0.01% of Fisher Asset Management’s portfolio.Chevy Chase Trust Holdings reduced its stake in ABC by selling 5,712 shares or 2.97% in the most recent quarter. The Hedge Fund company now holds 186,739 shares of ABC which is valued at $14,944,722. AmerisourceBergen Corp. makes up approx 0.08% of Chevy Chase Trust Holdings’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in ABC by selling 46,573 shares or 32.8% in the most recent quarter. The Hedge Fund company now holds 95,404 shares of ABC which is valued at $7,635,182. AmerisourceBergen Corp. makes up approx 0.03% of Bnp Paribas Arbitrage Sa’s portfolio.

AmerisourceBergen Corp. closed down -0.59 points or -0.73% at $79.79 with 12,85,780 shares getting traded on Friday. Post opening the session at $80.49, the shares hit an intraday low of $79.79 and an intraday high of $80.88 and the price fluctuated in this range throughout the day.Shares ended Friday 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.. AmerisourceBergen Corp. was Upgraded by Avondale to ” Mkt Outperform” on Oct 4, 2016. 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 .

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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