Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. AmerisourceBergen Corporation shares valued at $1,634,178 were sold by COLLIS STEVEN H on Jul 12. At $142.35 per share, COLLIS STEVEN H sold 11,480 shares. The insider’s holdings dropped to 205,178 shares worth approximately $28.58 million following the completion of this transaction.
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Also, COLLIS STEVEN H sold 11,480 shares, netting a total of over 1,621,206 in proceeds. Following the sale of shares at $141.22 each, the insider now holds 205,178 shares.
Before that, Walgreens Boots Alliance, Inc. had sold 6,000,000 shares from its account. In a trade valued at $900,000,000, the 10% Owner traded AmerisourceBergen Corporation shares for $150.00 each. Upon closing the transaction, the insider’s holdings decreased to 6,000,000 shares, worth approximately $7.36 billion.
As published in a research note from Evercore ISI on July 11, 2022, AmerisourceBergen Corporation [ABC] has been rated down from an Outperform to an In-line and the price target has been revised to $150. This represents a 7.15% premium over Thursday’s closing price. Analysts at Deutsche Bank upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early June. As of May 26, 2022, Barclays has increased its “an Equal weight” rating to a “an Overweight” for ABC. Earlier on April 12, 2022, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for ABC stock which previously was a “an Overweight”.
Analyzing ABC’s Price Performance
On Thursday, AmerisourceBergen Corporation [NYSE: ABC] rose 0.19% to $139.27. The stock’s lowest price that day was $139.06, but it reached a high of $146.40 in the same session. During the last five days, there has been a drop of approximately -4.33%. Over the course of the year, AmerisourceBergen Corporation shares have jumped approximately 4.80%. Shares of the company reached a 52-week high of $167.19 on 04/21/22 and a 52-week low of $127.94 on 01/24/22. A 50-day SMA is recorded $144.60, while a 200-day SMA reached $140.56. Nevertheless, trading volume fell to 1.58 million shares from 2.62 million shares the previous day.
Support And Resistance Levels for AmerisourceBergen Corporation (ABC)
According to the 24-hour chart, there is a support level at 136.75, which, if violated, would cause prices to drop to 134.24. In the upper region, resistance lies at 144.09. The next price resistance is at 148.92. RSI (Relative Strength Index) is 39.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.68, which suggests the price will decrease in the coming days. Percent R is at 79.12%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is AmerisourceBergen Corporation subject to short interest?
Stocks of AmerisourceBergen Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.32 million shares to 4.04 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.72 million shares. A jump of 7.92% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.97 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.97.
Which companies own the most shares of AmerisourceBergen Corporation (ABC)?
According to The Vanguard Group, Inc. filings, the company currently owns 17,819,652 shares, which is about 8.51% of the total ABC shares outstanding. The investor’s shares have appreciated by 1,285,711 from its previous 13-F filing of 16533941.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $1,132,623,516. SSgA Funds Management, Inc. acquire a 1.82% interest valued at $980.63 million while JPMorgan Investment Management, I sold a -361,673 stake. A total of 812,453 shares of AmerisourceBergen Corporation were sold by Fidelity Management & Research Co during the quarter, and 18,023 were bought by Boston Partners Global Investors,. In its current portfolio, Capital Research & Management Co holds 3,423,777 shares valued at $484.4 million.
In terms of AmerisourceBergen Corporation share price expectations, FactSet research, analysts set an average price target of $170.85 in the next 12 months, up nearly 25.9% from the previous closing price of $139.00. Analysts anticipate AmerisourceBergen Corporation stock to reach $188.00 by 2022, with the lowest price target being $150.00. In spite of this, 16 analysts ranked AmerisourceBergen Corporation stock as an Overweight at the end of 2022. On April 01, 2022, Credit Suisse assigned a price target of “an Outperform” to the stock and resumed coverage with a $180.