Insider Selling: John G. Chou Unloads 37,500 Shares of AmerisourceBergen Corp. Stock (ABC)
AmerisourceBergen Corp. (NYSE:ABC) EVP John G. Chou sold 37,500 shares of AmerisourceBergen Corp. stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $71.28, for a total transaction of $2,673,000.00. Following the sale, the executive vice president now directly owns 30,649 shares in the company, valued at approximately $2,184,661. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on ABC. Analysts at Zacks reiterated a “neutral” rating on shares of AmerisourceBergen Corp. in a research note on Friday, April 25th. They now have a $68.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of AmerisourceBergen Corp. in a research note on Friday, April 25th. They now have a $73.00 price target on the stock. Finally, analysts at Cowen and Company cut their price target on shares of AmerisourceBergen Corp. from $80.00 to $75.00 in a research note on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. AmerisourceBergen Corp. currently has a consensus rating of “Buy” and an average target price of $71.44.
AmerisourceBergen Corp. (NYSE:ABC) opened at 71.35 on Friday. AmerisourceBergen Corp. has a 52-week low of $52.38 and a 52-week high of $71.92. The stock’s 50-day moving average is $65.66 and its 200-day moving average is $67.7. The company has a market cap of $16.114 billion and a P/E ratio of 38.09.
AmerisourceBergen Corp. (NYSE:ABC) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.00 by $0.06. The company had revenue of $28.50 million for the quarter, compared to the consensus estimate of $28.42 million. During the same quarter in the prior year, the company posted $0.87 earnings per share. The company’s quarterly revenue was up 38.6% on a year-over-year basis. Analysts expect that AmerisourceBergen Corp. will post $3.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, May 15th.
AmerisourceBergen Corporation (NYSE:ABC) is a pharmaceutical services company serving the United States, Canada and select global markets.
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