Equities research analysts at Bank of America started coverage on shares of AmerisourceBergen (NYSE:ABC) in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $111.00 price target on the stock. Bank of America’s price target would suggest a potential upside of 16.65% from the stock’s previous close.
A number of other equities analysts have also recently commented on the company. ValuEngine raised AmerisourceBergen from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Needham & Company LLC decreased their target price on AmerisourceBergen from $93.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, November 6th. Robert W. Baird reaffirmed a “buy” rating and issued a $96.00 target price on shares of AmerisourceBergen in a report on Monday, November 6th. Deutsche Bank assumed coverage on AmerisourceBergen in a report on Monday, December 4th. They issued a “buy” rating and a $97.00 target price on the stock. Finally, Cowen set a $107.00 target price on AmerisourceBergen and gave the stock a “buy” rating in a report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $102.46.
AmerisourceBergen (ABC) opened at $95.16 on Tuesday. The firm has a market capitalization of $21,448.48, a price-to-earnings ratio of 20.51, a PEG ratio of 1.46 and a beta of 1.02. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.50 and a current ratio of 0.95. AmerisourceBergen has a twelve month low of $71.90 and a twelve month high of $106.27.
In other AmerisourceBergen news, Director Richard W. Gochnauer sold 2,278 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $101.13, for a total transaction of $230,374.14. Following the sale, the director now directly owns 13,225 shares of the company’s stock, valued at $1,337,444.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $85.73, for a total value of $994,468.00. Following the sale, the chief financial officer now directly owns 56,436 shares in the company, valued at $4,838,258.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 194,546 shares of company stock worth $17,889,426. Insiders own 27.30% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Hikari Tsushin Inc. purchased a new position in shares of AmerisourceBergen during the fourth quarter valued at about $106,000. Delpha Capital Management LLC purchased a new position in shares of AmerisourceBergen during the fourth quarter valued at about $137,000. Vantage Investment Advisors LLC purchased a new position in shares of AmerisourceBergen during the fourth quarter valued at about $156,000. TRUE Private Wealth Advisors purchased a new position in shares of AmerisourceBergen during the fourth quarter valued at about $203,000. Finally, Zeke Capital Advisors LLC purchased a new position in shares of AmerisourceBergen during the third quarter valued at about $210,000. 65.98% of the stock is currently owned by institutional investors and hedge funds.
AmerisourceBergen 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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