Shelton Capital Management Lowers stake in AmerisourceBergen Corp. (ABC)

AmerisourceBergen Corp. (ABC) : Shelton Capital Management reduced its stake in AmerisourceBergen Corp. by 23.09% during the most recent quarter end. The investment management company now holds a total of 28,029 shares of AmerisourceBergen Corp. which is valued at $2,279,599 after selling 8,414 shares in AmerisourceBergen Corp. , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.AmerisourceBergen Corp. makes up approximately 0.22% of Shelton Capital Management’s portfolio.

Other Hedge Funds, Including , Prudential Plc boosted its stake in ABC in the latest quarter, The investment management firm added 1,400 additional shares and now holds a total of 12,484 shares of AmerisourceBergen Corp. which is valued at $1,015,324.Bronfman E.l. Rothschild reduced its stake in ABC by selling 15 shares or 2.49% in the most recent quarter. The Hedge Fund company now holds 587 shares of ABC which is valued at $41,366. AmerisourceBergen Corp. makes up approx 0.01% of Bronfman E.l. Rothschild’s portfolio.Texas Permanent School Fund reduced its stake in ABC by selling 3,593 shares or 6.06% in the most recent quarter. The Hedge Fund company now holds 55,680 shares of ABC which is valued at $3,849,715. AmerisourceBergen Corp. makes up approx 0.05% of Texas Permanent School Fund’s portfolio.

AmerisourceBergen Corp. closed down -0.95 points or -1.19% at $79.21 with 36,44,028 shares getting traded on Monday. Post opening the session at $79.91, the shares hit an intraday low of $78.91 and an intraday high of $79.91 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 $1.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $1.23. The company had revenue of $37560.60 million for the quarter, compared to analysts expectations of $37838.94 million. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS.

Many Wall Street Analysts have commented on AmerisourceBergen Corp.. AmerisourceBergen Corp. was Upgraded by Morgan Stanley to ” Overweight” on Nov 10, 2016. Mizuho Upgraded AmerisourceBergen Corp. on Nov 9, 2016 to ” Buy”, Price Target of the shares are set at $83.AmerisourceBergen Corp. was Downgraded by Leerink Partners to ” Mkt Perform” on Nov 4, 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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