As Amerisourcebergen Corp (ABC) Stock Value Declined, Spark Investment Management LLC Boosted Holding by $9.19 Million

January 19, 2018 - By Maria Brooks

Spark Investment Management Llc increased its stake in Amerisourcebergen Corp (ABC) by 87.65% based on its latest 2017Q3 regulatory filing with the SEC. Spark Investment Management Llc bought 112,100 shares as the company’s stock declined 1.76% while stock markets rallied. The hedge fund held 240,000 shares of the other pharmaceuticals company at the end of 2017Q3, valued at $19.86M, up from 127,900 at the end of the previous reported quarter. Spark Investment Management Llc who had been investing in Amerisourcebergen Corp for a number of months, seems to be bullish on the $22.00B market cap company. The stock decreased 0.43% or $0.44 during the last trading session, reaching $100.86. About 1.90M shares traded. AmerisourceBergen Corporation (NYSE:ABC) has risen 18.80% since January 19, 2017 and is uptrending. It has outperformed by 2.10% the S&P500.

Spark Investment Management Llc, which manages about $1.26B and $1.87 billion US Long portfolio, decreased its stake in Bio Rad Labs Inc (NYSE:BIO) by 26,500 shares to 20,900 shares, valued at $4.64 million in 2017Q3, according to the filing. It also reduced its holding in Teck Resources Ltd (NYSE:TCK) by 160,000 shares in the quarter, leaving it with 386,000 shares, and cut its stake in Select Comfort Corp (NASDAQ:SCSS).

More important recent AmerisourceBergen Corporation (NYSE:ABC) news were published by: Bizjournals.com which released: “AmerisourceBergen narrows its search for new office space” on December 22, 2017, also Gurufocus.com published article titled: “Livforsakringsaktiebolaget Skandia (publ) Buys CA Inc, Carter’s Inc …”, Bizjournals.com published: “AmerisourceBergen completes $815M acquisition” on January 03, 2018. More interesting news about AmerisourceBergen Corporation (NYSE:ABC) was released by: Valuewalk.com and their article: “Activists Hail SEC Ruling On Opioid “Accountability” at AmerisourceBergen Corp” with publication date: January 18, 2018.

AmerisourceBergen Corporation (NYSE:ABC) Ratings Coverage

Among 20 analysts covering AmerisourceBergen (NYSE:ABC), 11 have Buy rating, 0 Sell and 9 Hold. Therefore 55% are positive. AmerisourceBergen has $130 highest and $9 lowest target. $91.63’s average target is -9.15% below currents $100.86 stock price. AmerisourceBergen had 62 analyst reports since July 27, 2015 according to SRatingsIntel. As per Thursday, September 17, the company rating was upgraded by Zacks. Zacks upgraded the shares of ABC in report on Tuesday, August 25 to “Hold” rating. The firm has “Buy” rating by Leerink Swann given on Tuesday, January 2. The rating was upgraded by Leerink Swann on Tuesday, January 17 to “Outperform”. The rating was upgraded by Bank of America to “Buy” on Thursday, January 12. The stock of AmerisourceBergen Corporation (NYSE:ABC) has “Buy” rating given on Tuesday, April 4 by Needham. Needham maintained the shares of ABC in report on Friday, November 3 with “Buy” rating. The stock has “Buy” rating by Leerink Swann on Monday, August 7. On Friday, August 4 the stock rating was maintained by UBS with “Neutral”. The rating was downgraded by Leerink Swann on Friday, November 4 to “Mkt Perform”.

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