“We note that even with the impact of the fire, comp trends improved across divisions; absent the fire, core Gap, while still at a disappointing -5% comp, would have seen an 8 and 9 point improvement on a 2 and 3 stack vs. August, respectively.”,” Leerink Swann’s analyst wrote.
Several other brokerages have also recently issued reports on ABC. FBR & Co upped their price objective on AmerisourceBergen Corp. from $84.00 to $90.00 and gave the company a mkt perform rating in a research note on Wednesday, August 3rd. Deutsche Bank AG upped their price objective on AmerisourceBergen Corp. from $83.00 to $96.00 and gave the company a hold rating in a research note on Wednesday, August 3rd. Barclays PLC upped their price objective on AmerisourceBergen Corp. from $83.00 to $89.00 and gave the company an equal weight rating in a research note on Wednesday, August 3rd. Citigroup Inc. increased their price target on AmerisourceBergen Corp. from $100.00 to $105.00 and gave the stock a buy rating in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research cut AmerisourceBergen Corp. from a buy rating to a hold rating in a research report on Tuesday, August 9th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $96.61.
AmerisourceBergen Corp. (NYSE:ABC) traded up 0.69% during mid-day trading on Friday, reaching $79.94. The company’s stock had a trading volume of 583,355 shares. The firm has a market capitalization of $17.17 billion, a P/E ratio of 10.78 and a beta of 0.75. The firm’s 50 day moving average price is $84.55 and its 200 day moving average price is $83.05. AmerisourceBergen Corp. has a 52 week low of $73.31 and a 52 week high of $105.81.
AmerisourceBergen Corp. (NYSE:ABC) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.10. AmerisourceBergen Corp. had a return on equity of 83.93% and a net margin of 1.14%. The firm had revenue of $36.90 billion for the quarter, compared to analysts’ expectations of $36.57 billion. During the same quarter in the prior year, the firm posted $1.20 earnings per share. AmerisourceBergen Corp.’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts anticipate that AmerisourceBergen Corp. will post $5.55 EPS for the current fiscal year.
In other news, insider Gina Clark sold 2,247 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $89.50, for a total transaction of $201,106.50. Following the completion of the sale, the insider now directly owns 9,436 shares of the company’s stock, valued at approximately $844,522. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Henry Wadsworth Mcgee III sold 3,351 shares of the firm’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $82.10, for a total value of $275,117.10. Following the sale, the director now directly owns 10,901 shares of the company’s stock, valued at $894,972.10. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new stake in AmerisourceBergen Corp. during the first quarter valued at $104,000. NN Investment Partners Holdings N.V. acquired a new stake in shares of AmerisourceBergen Corp. during the first quarter valued at approximately $924,000. William Harris Investors Inc. boosted its stake in shares of AmerisourceBergen Corp. by 75.0% in the first quarter. William Harris Investors Inc. now owns 127,662 shares of the company’s stock valued at $11,049,000 after buying an additional 54,724 shares during the period. Burgundy Asset Management Ltd. boosted its stake in shares of AmerisourceBergen Corp. by 46.0% in the first quarter. Burgundy Asset Management Ltd. now owns 2,217,275 shares of the company’s stock valued at $191,905,000 after buying an additional 698,428 shares during the period. Finally, ING Groep NV boosted its stake in shares of AmerisourceBergen Corp. by 225.6% in the first quarter. ING Groep NV now owns 13,159 shares of the company’s stock valued at $1,139,000 after buying an additional 9,117 shares during the period. 66.19% of the stock is owned by institutional investors and hedge funds.
AmerisourceBergen Corp. Company Profile
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.
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