New York Life Trust Co buys $121,985 stake in AmerisourceBergen Corp. (ABC)

AmerisourceBergen Corp. (ABC) : New York Life Trust Co scooped up 62 additional shares in AmerisourceBergen Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,372 shares of AmerisourceBergen Corp. which is valued at $121,985.AmerisourceBergen Corp. makes up approximately 0.57% of New York Life Trust Co’s portfolio.

Other Hedge Funds, Including , First Republic Investment Management boosted its stake in ABC in the latest quarter, The investment management firm added 1,587 additional shares and now holds a total of 11,124 shares of AmerisourceBergen Corp. which is valued at $989,035. AmerisourceBergen Corp. makes up approx 0.01% of First Republic Investment Management’s portfolio.Tcw Group Inc boosted its stake in ABC in the latest quarter, The investment management firm added 991 additional shares and now holds a total of 30,763 shares of AmerisourceBergen Corp. which is valued at $2,735,138. AmerisourceBergen Corp. makes up approx 0.02% of Tcw Group Inc’s portfolio.Spf Beheer Bv reduced its stake in ABC by selling 31,759 shares or 5.12% in the most recent quarter. The Hedge Fund company now holds 588,320 shares of ABC which is valued at $52,331,064. AmerisourceBergen Corp. makes up approx 2.66% of Spf Beheer Bv’s portfolio.State Board Of Administration Of Florida Retirement System boosted its stake in ABC in the latest quarter, The investment management firm added 42,079 additional shares and now holds a total of 307,563 shares of AmerisourceBergen Corp. which is valued at $27,480,754. AmerisourceBergen Corp. makes up approx 0.08% of State Board Of Administration Of Florida Retirement System’s portfolio. Martin Investment Management sold out all of its stake in ABC during the most recent quarter. The investment firm sold 160,974 shares of ABC which is valued $13,821,228.

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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