AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.

According to Zacks, “AmerisourceBergen had an unimpressive run on the bourse over the last one month, trading below the broader industry in terms of price performance. The company faces headwinds due to the slowdown in hepatitis C revenues and conversion of branded drugs to the lower price generics. Furthermore, a temporary slowdown in PharMEDium's growth is expected to mar the company’s bottom line. AmerisourceBergen expects a moderation in growth in fiscal 2017 due to a challenging healthcare landscape, as both healthcare providers and pharmaceutical manufacturers are facing increasing cost pressures. The company operates in a highly competitive pharmaceutical distribution and related health care space. Furthermore, the generic industry is facing consolidation of customers and manufacturers, globalization and increasing quality and regulatory challenges. Added to this, AmerisourceBergen’s expensive valuation multiples pose risk owing to Trump’s unclear policy towards brand pricing.”

Other equities analysts have also issued reports about the company. Bank of America Corporation lowered AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $95.76 to $94.00 in a research note on Friday, June 30th. Vetr lowered AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating and set a $90.84 target price on the stock. in a research note on Thursday, April 6th. Jefferies Group LLC restated a “hold” rating and issued a $95.00 target price on shares of AmerisourceBergen Corporation (Holding Co) in a research note on Wednesday, June 21st. BidaskClub lowered AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, UBS AG decreased their target price on AmerisourceBergen Corporation (Holding Co) from $94.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $93.64.

AmerisourceBergen Corporation (NYSE ABC) traded down 1.08% during mid-day trading on Friday, reaching $80.83. The company had a trading volume of 2,882,893 shares. AmerisourceBergen Corporation has a 12-month low of $68.38 and a 12-month high of $97.85. The stock has a market capitalization of $17.65 billion, a P/E ratio of 15.69 and a beta of 0.91. The stock has a 50 day moving average price of $93.75 and a 200-day moving average price of $89.47.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last announced its earnings results on Thursday, August 3rd. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. The business had revenue of $38.71 billion for the quarter, compared to analyst estimates of $39.13 billion. AmerisourceBergen Corporation (Holding Co) had a return on equity of 56.07% and a net margin of 0.56%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.37 EPS. Equities analysts anticipate that AmerisourceBergen Corporation will post $5.87 EPS for the current fiscal year.

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In other news, Chairman Steven H. Collis sold 15,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $94.76, for a total transaction of $1,421,400.00. Following the transaction, the chairman now directly owns 253,876 shares in the company, valued at approximately $24,057,289.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 27.40% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in ABC. Hennessy Advisors Inc. purchased a new position in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter valued at approximately $2,036,000. Hefty Wealth Partners purchased a new position in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter valued at approximately $1,072,000. Donald L. Hagan LLC raised its position in shares of AmerisourceBergen Corporation (Holding Co) by 8.5% in the first quarter. Donald L. Hagan LLC now owns 14,499 shares of the company’s stock valued at $1,283,000 after buying an additional 1,132 shares during the period. OMERS ADMINISTRATION Corp raised its position in shares of AmerisourceBergen Corporation (Holding Co) by 20.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 1,560,620 shares of the company’s stock valued at $138,115,000 after buying an additional 266,670 shares during the period. Finally, Ferguson Wellman Capital Management Inc. purchased a new position in shares of AmerisourceBergen Corporation (Holding Co) during the first quarter valued at approximately $21,817,000. Hedge funds and other institutional investors own 68.82% of the company’s stock.

About AmerisourceBergen Corporation (Holding Co)

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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Analyst Recommendations for AmerisourceBergen Corporation (Holding Co) (NYSE:ABC)

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