AmerisourceBergen Corporation (Holding Co) (NYSE:ABC)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report issued on Sunday. They presently have a $91.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 10.30% from the stock’s current price.

Other analysts also recently issued reports about the company. Bank of America Corporation downgraded AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and cut their target price for the company from $95.76 to $94.00 in a research report on Friday, June 30th. Zacks Investment Research upgraded AmerisourceBergen Corporation (Holding Co) from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Leerink Swann set a $90.00 target price on AmerisourceBergen Corporation (Holding Co) and gave the company a “buy” rating in a research report on Monday, August 7th. BidaskClub downgraded AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, TheStreet downgraded AmerisourceBergen Corporation (Holding Co) from a “b” rating to a “c+” rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. AmerisourceBergen Corporation (Holding Co) currently has a consensus rating of “Hold” and an average target price of $92.34.

AmerisourceBergen Corporation (NYSE ABC) opened at 82.50 on Friday. The firm’s 50-day moving average price is $83.22 and its 200 day moving average price is $87.98. The firm has a market capitalization of $18.08 billion, a price-to-earnings ratio of 21.50 and a beta of 0.95. AmerisourceBergen Corporation has a 1-year low of $68.38 and a 1-year high of $97.85.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last released its earnings results on Thursday, August 3rd. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. The firm had revenue of $38.71 billion during the quarter, compared to the consensus estimate 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 revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.37 EPS. On average, analysts predict that AmerisourceBergen Corporation will post $5.88 EPS for the current year.

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In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 15,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $94.76, for a total value of $1,421,400.00. Following the completion of the transaction, the chairman now owns 253,876 shares of the company’s stock, valued at approximately $24,057,289.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Gina Clark sold 1,273 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $80.94, for a total value of $103,036.62. Following the completion of the transaction, the insider now directly owns 10,830 shares of the company’s stock, valued at approximately $876,580.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,273 shares of company stock valued at $4,323,237. 27.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ABC. Parallel Advisors LLC increased its holdings in AmerisourceBergen Corporation (Holding Co) by 3.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after purchasing an additional 34 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in AmerisourceBergen Corporation (Holding Co) in the 1st quarter worth about $105,000. American Beacon Advisors Inc. acquired a new position in AmerisourceBergen Corporation (Holding Co) in the 1st quarter worth about $108,000. SRS Capital Advisors Inc. increased its holdings in AmerisourceBergen Corporation (Holding Co) by 0.3% in the 1st quarter. SRS Capital Advisors Inc. now owns 1,235 shares of the company’s stock worth $109,000 after purchasing an additional 4 shares in the last quarter. Finally, Sun Life Financial INC increased its holdings in AmerisourceBergen Corporation (Holding Co) by 15,000.0% in the 2nd quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock worth $114,000 after purchasing an additional 1,200 shares in the last quarter. 67.67% of the stock is owned by institutional investors and hedge funds.

AmerisourceBergen Corporation (Holding Co) 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.

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

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