Shares of AmerisourceBergen Corp. (NYSE:ABC) have earned a consensus rating of “Buy” from the twenty analysts that are covering the firm. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $94.72.
Several research firms recently issued reports on ABC. Vetr cut AmerisourceBergen Corp. from a “buy” rating to a “hold” rating and set a $94.25 price objective on the stock. in a report on Wednesday, February 8th. Zacks Investment Research cut AmerisourceBergen Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, February 21st. Credit Suisse Group AG reiterated a “buy” rating on shares of AmerisourceBergen Corp. in a report on Sunday, February 5th. Needham & Company LLC began coverage on AmerisourceBergen Corp. in a report on Tuesday, April 4th. They issued a “buy” rating and a $99.00 price objective on the stock. Finally, Morgan Stanley upgraded AmerisourceBergen Corp. from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 31st.
In other news, insider Lazarus Krikorian sold 9,958 shares of AmerisourceBergen Corp. stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $91.83, for a total transaction of $914,443.14. Following the sale, the insider now owns 15,743 shares of the company’s stock, valued at approximately $1,445,679.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Steven H. Collis sold 15,000 shares of AmerisourceBergen Corp. stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $87.15, for a total transaction of $1,307,250.00. Following the sale, the chairman now directly owns 253,876 shares in the company, valued at approximately $22,125,293.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,958 shares of company stock worth $4,615,303. Corporate insiders own 27.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Management raised its stake in AmerisourceBergen Corp. by 16.5% in the third quarter. Integrated Wealth Management now owns 1,265 shares of the company’s stock valued at $102,000 after buying an additional 179 shares during the last quarter. Apriem Advisors raised its stake in AmerisourceBergen Corp. by 460.0% in the third quarter. Apriem Advisors now owns 1,400 shares of the company’s stock valued at $113,000 after buying an additional 1,150 shares during the last quarter. Archford Capital Strategies LLC purchased a new stake in AmerisourceBergen Corp. during the fourth quarter valued at approximately $125,000. Global X Management Co. LLC raised its stake in AmerisourceBergen Corp. by 185.3% in the third quarter. Global X Management Co. LLC now owns 1,626 shares of the company’s stock valued at $131,000 after buying an additional 1,056 shares during the last quarter. Finally, Washington Trust Bank raised its stake in AmerisourceBergen Corp. by 400.9% in the first quarter. Washington Trust Bank now owns 1,693 shares of the company’s stock valued at $150,000 after buying an additional 1,355 shares during the last quarter. 69.11% of the stock is currently owned by hedge funds and other institutional investors.
AmerisourceBergen Corp. (NYSE:ABC) traded down 1.35% during mid-day trading on Tuesday, reaching $81.26. The company’s stock had a trading volume of 1,138,873 shares. The company has a market capitalization of $17.66 billion, a price-to-earnings ratio of 13.57 and a beta of 0.82. The stock has a 50-day moving average price of $87.57 and a 200-day moving average price of $83.22. AmerisourceBergen Corp. has a one year low of $68.38 and a one year high of $94.50.
AmerisourceBergen Corp. (NYSE:ABC) last posted its quarterly earnings data on Tuesday, January 31st. The company reported $1.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.13. AmerisourceBergen Corp. had a return on equity of 62.44% and a net margin of 0.91%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $39 billion. During the same period in the previous year, the firm posted $1.27 EPS. AmerisourceBergen Corp.’s revenue was up 4.0% compared to the same quarter last year. Equities research analysts forecast that AmerisourceBergen Corp. will post $5.85 EPS for the current year.
AmerisourceBergen Corp. Company Profile
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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