Darrell King Lowers stake in AmerisourceBergen Corp. (ABC)

AmerisourceBergen Corp. (ABC) : Darrell King reduced its stake in AmerisourceBergen Corp. by 2.18% during the most recent quarter end. The investment management company now holds a total of 197,846 shares of AmerisourceBergen Corp. which is valued at $17,590,488 after selling 4,401 shares in AmerisourceBergen Corp. , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.AmerisourceBergen Corp. makes up approximately 3.16% of Darrell King’s portfolio.

Other Hedge Funds, Including , State Of Wisconsin Investment Board boosted its stake in ABC in the latest quarter, The investment management firm added 47,660 additional shares and now holds a total of 193,932 shares of AmerisourceBergen Corp. which is valued at $17,242,494. AmerisourceBergen Corp. makes up approx 0.07% of State Of Wisconsin Investment Board’s portfolio. Frontier Wealth Management sold out all of its stake in ABC during the most recent quarter. The investment firm sold 2,400 shares of ABC which is valued $213,384.Hm Payson Co boosted its stake in ABC in the latest quarter, The investment management firm added 30 additional shares and now holds a total of 3,438 shares of AmerisourceBergen Corp. which is valued at $305,810. AmerisourceBergen Corp. makes up approx 0.01% of Hm Payson Co’s portfolio.Royal London Asset Management Ltd reduced its stake in ABC by selling 24,253 shares or 30.65% in the most recent quarter. The Hedge Fund company now holds 54,881 shares of ABC which is valued at $4,933,253. AmerisourceBergen Corp. makes up approx 0.08% of Royal London Asset Management Ltd’s portfolio.

AmerisourceBergen Corp. opened for trading at $89.14 and hit $89.23 on the upside on Tuesday, eventually ending the session at $88.99, with a gain of 0.27% or 0.24 points. The heightened volatility saw the trading volume jump to 6,38,202 shares. Company has a market cap of $19,109 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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