AmerisourceBergen Corp. (ABC) Receives “Buy” Rating from Leerink Swann
AmerisourceBergen Corp. (NYSE:ABC)‘s stock had its “buy” rating reissued by Leerink Swann in a report released on Friday. They presently have a $100.00 price target on the stock. Leerink Swann’s price objective would suggest a potential upside of 24.78% from the company’s current price.
The analysts wrote, “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.””
Other research analysts also recently issued research reports about the company. Barclays PLC lifted their price target on AmerisourceBergen Corp. from $83.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 3rd. Evercore ISI reissued a “hold” rating and issued a $93.50 target price on shares of AmerisourceBergen Corp. in a research note on Tuesday, August 2nd. Citigroup Inc. boosted their target price on shares of AmerisourceBergen Corp. from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Zacks Investment Research raised shares of AmerisourceBergen Corp. from a “sell” rating to a “hold” rating and set a $94.00 target price for the company in a research note on Monday, July 11th. Finally, Mizuho boosted their target price on shares of AmerisourceBergen Corp. from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, August 11th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $97.50.
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Shares of AmerisourceBergen Corp. (NYSE:ABC) traded down 0.77% during midday trading on Friday, hitting $79.52. 275,598 shares of the company were exchanged. The stock has a market capitalization of $17.08 billion, a price-to-earnings ratio of 10.73 and a beta of 0.74. The company has a 50-day moving average price of $84.82 and a 200-day moving average price of $83.10. AmerisourceBergen Corp. has a 52-week low of $73.31 and a 52-week high of $105.81.
AmerisourceBergen Corp. (NYSE:ABC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.10. The business earned $36.90 billion during the quarter, compared to the consensus estimate of $36.57 billion. AmerisourceBergen Corp. had a return on equity of 83.93% and a net margin of 1.14%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 EPS. On average, analysts forecast that AmerisourceBergen Corp. will post $5.55 EPS for the current year.
In related news, Director Henry Wadsworth Mcgee III sold 3,351 shares of AmerisourceBergen Corp. stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $82.10, for a total transaction of $275,117.10. Following the completion of the sale, the director now directly owns 10,901 shares of the company’s stock, valued at $894,972.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kathy H. Gaddes sold 681 shares of AmerisourceBergen Corp. stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $88.15, for a total value of $60,030.15. Following the sale, the insider now directly owns 1,022 shares of the company’s stock, valued at $90,089.30. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company’s stock.
Several large investors have recently made changes to their positions in ABC. Synovus Financial Corp boosted its stake in shares of AmerisourceBergen Corp. by 0.4% in the second quarter. Synovus Financial Corp now owns 5,431 shares of the company’s stock worth $430,000 after buying an additional 22 shares during the period. Bruderman Asset Management LLC boosted its stake in shares of AmerisourceBergen Corp. by 1.1% in the second quarter. Bruderman Asset Management LLC now owns 2,620 shares of the company’s stock worth $208,000 after buying an additional 29 shares during the period. Investors Capital Advisory Services boosted its stake in shares of AmerisourceBergen Corp. by 1.1% in the second quarter. Investors Capital Advisory Services now owns 2,860 shares of the company’s stock worth $226,000 after buying an additional 30 shares during the period. HM Payson & Co. boosted its position in AmerisourceBergen Corp. by 0.9% in the second quarter. HM Payson & Co. now owns 3,438 shares of the company’s stock worth $272,000 after buying an additional 30 shares during the last quarter. Finally, HL Financial Services LLC boosted its position in AmerisourceBergen Corp. by 1.2% in the second quarter. HL Financial Services LLC now owns 2,949 shares of the company’s stock worth $234,000 after buying an additional 34 shares during the last quarter. 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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