Selway Asset Management buys $4,229,325 stake in AmerisourceBergen Corp. (ABC)

AmerisourceBergen Corp. (ABC) : Selway Asset Management scooped up 16,475 additional shares in AmerisourceBergen Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 47,050 shares of AmerisourceBergen Corp. which is valued at $4,229,325.AmerisourceBergen Corp. makes up approximately 2.59% of Selway Asset Management’s portfolio.

Other Hedge Funds, Including , Quantitative Investment Management sold out all of its stake in ABC during the most recent quarter. The investment firm sold 2,700 shares of ABC which is valued $242,703. Bristol Gate Capital Partners sold out all of its stake in ABC during the most recent quarter. The investment firm sold 283,171 shares of ABC which is valued $24,123,337.Nn Investment Partners Holdings N.v. reduced its stake in ABC by selling 3,364 shares or 31.5% in the most recent quarter. The Hedge Fund company now holds 7,317 shares of ABC which is valued at $621,433. AmerisourceBergen Corp. makes up approx 0.01% of Nn Investment Partners Holdings N.v.’s portfolio.Banced Corp reduced its stake in ABC by selling 184 shares or 3.33% in the most recent quarter. The Hedge Fund company now holds 5,346 shares of ABC which is valued at $454,036. AmerisourceBergen Corp. makes up approx 0.79% of Banced Corp’s portfolio.

AmerisourceBergen Corp. closed down -0.68 points or -0.76% at $88.67 with 15,96,276 shares getting traded on Monday. Post opening the session at $89.71, the shares hit an intraday low of $88.47 and an intraday high of $89.71 and the price fluctuated in this range throughout the day.Shares ended Monday 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 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 Corp. was Resumed by BofA/Merrill to “Neutral” on Jun 7, 2016.

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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