AmerisourceBergen Corp. (ABC) Receives Average Rating of “Hold” from Analysts
Shares of AmerisourceBergen Corp. (NYSE:ABC) have been assigned a consensus rating of “Hold” from the nineteen ratings firms that are covering the firm. Ten equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $95.32.
Several research firms have recently commented on ABC. Cleveland Research downgraded shares of AmerisourceBergen Corp. from a “buy” rating to a “neutral” rating in a research note on Monday. Leerink Swann reiterated a “buy” rating and set a $100.00 price objective on shares of AmerisourceBergen Corp. in a research note on Friday, October 7th. Avondale Partners upgraded shares of AmerisourceBergen Corp. from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 4th. Morgan Stanley reiterated a “hold” rating and set a $89.00 price objective on shares of AmerisourceBergen Corp. in a research note on Monday, September 12th. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $98.00 price objective on shares of AmerisourceBergen Corp. in a research note on Friday, August 26th.
In other news, Director Henry Wadsworth Mcgee III sold 3,351 shares of AmerisourceBergen Corp. stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $82.10, for a total value of $275,117.10. Following the sale, the director now owns 10,901 shares in the company, valued at $894,972.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gina Clark sold 2,247 shares of AmerisourceBergen Corp. stock in a transaction dated Friday, August 5th. The shares were 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 owns 9,436 shares in the company, valued at approximately $844,522. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by insiders.
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Several hedge funds have recently made changes to their positions in ABC. Creative Planning raised its stake in shares of AmerisourceBergen Corp. by 88.2% in the third quarter. Creative Planning now owns 16,976 shares of the company’s stock valued at $1,371,000 after buying an additional 7,955 shares during the period. Advisory Services Network LLC raised its stake in shares of AmerisourceBergen Corp. by 10.0% in the third quarter. Advisory Services Network LLC now owns 4,750 shares of the company’s stock valued at $384,000 after buying an additional 430 shares during the period. Triangle Securities Wealth Management raised its stake in shares of AmerisourceBergen Corp. by 9.5% in the third quarter. Triangle Securities Wealth Management now owns 7,340 shares of the company’s stock valued at $593,000 after buying an additional 635 shares during the period. Eqis Capital Management Inc. raised its stake in shares of AmerisourceBergen Corp. by 16.3% in the third quarter. Eqis Capital Management Inc. now owns 9,125 shares of the company’s stock valued at $737,000 after buying an additional 1,277 shares during the period. Finally, West Oak Capital LLC raised its stake in shares of AmerisourceBergen Corp. by 0.6% in the third quarter. West Oak Capital LLC now owns 20,195 shares of the company’s stock valued at $1,631,000 after buying an additional 115 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.
Shares of AmerisourceBergen Corp. (NYSE:ABC) traded up 1.099% on Wednesday, reaching $80.485. 1,182,335 shares of the company traded hands. The stock has a market capitalization of $17.28 billion, a price-to-earnings ratio of 10.857 and a beta of 0.74. AmerisourceBergen Corp. has a 1-year low of $73.31 and a 1-year high of $105.81. The company has a 50-day moving average of $84.02 and a 200-day moving average of $82.91.
AmerisourceBergen Corp. (NYSE:ABC) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.10. AmerisourceBergen Corp. had a net margin of 1.14% and a return on equity of 83.93%. The business earned $36.90 billion during the quarter, compared to the consensus estimate of $36.57 billion. During the same period in the previous year, the firm posted $1.20 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts anticipate that AmerisourceBergen Corp. will post $5.55 earnings per share for the current fiscal year.
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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