AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Thursday, Marketbeat Ratings reports.

Several other equities analysts have also recently issued reports on ABC. Jefferies Group LLC started coverage on AmerisourceBergen Corporation (Holding Co) in a research report on Wednesday, May 17th. They issued a “hold” rating and a $95.00 price objective on the stock. Vetr raised AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “strong-buy” rating and set a $97.44 price target on the stock in a report on Wednesday, May 17th. Mizuho increased their price target on AmerisourceBergen Corporation (Holding Co) from $83.00 to $93.00 and gave the company a “neutral” rating in a report on Tuesday, May 30th. BidaskClub raised AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Finally, Bank of America Corporation cut AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and lowered their price target for the company from $95.76 to $94.00 in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. AmerisourceBergen Corporation (Holding Co) presently has a consensus rating of “Hold” and a consensus price target of $92.34.

AmerisourceBergen Corporation (ABC) traded up 1.13% during mid-day trading on Thursday, reaching $81.60. The company’s stock had a trading volume of 2,732,342 shares. AmerisourceBergen Corporation has a 12-month low of $68.38 and a 12-month high of $97.85. The company has a 50-day moving average price of $81.75 and a 200-day moving average price of $87.67. The firm has a market cap of $17.88 billion, a PE ratio of 21.26 and a beta of 0.95.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last released its quarterly earnings data on Thursday, August 3rd. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.06. The business had revenue of $38.71 billion for the quarter, compared to analysts’ expectations of $39.13 billion. AmerisourceBergen Corporation (Holding Co) had a return on equity of 56.07% and a net margin of 0.56%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 EPS. On average, equities research analysts expect that AmerisourceBergen Corporation will post $5.88 earnings per share for the current year.

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In other news, Chairman Steven H. Collis sold 15,000 shares of the company’s stock in a transaction on 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 sale, the chairman now directly owns 253,876 shares in the company, valued at approximately $24,057,289.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peyton R. Howell sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $80.00, for a total value of $1,600,000.00. Following the completion of the sale, the insider now owns 57,135 shares of the company’s stock, valued at $4,570,800. The disclosure for this sale can be found here. Insiders sold a total of 51,273 shares of company stock valued at $4,323,237 over the last 90 days. 27.40% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of AmerisourceBergen Corporation (Holding Co) by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 15,653,245 shares of the company’s stock worth $1,479,701,000 after purchasing an additional 304,628 shares in the last quarter. BlackRock Inc. increased its stake in shares of AmerisourceBergen Corporation (Holding Co) by 1,139.3% in the 1st quarter. BlackRock Inc. now owns 12,673,530 shares of the company’s stock worth $1,121,608,000 after purchasing an additional 11,650,881 shares in the last quarter. Fiduciary Management Inc. WI increased its stake in AmerisourceBergen Corporation (Holding Co) by 11.2% in the 1st quarter. Fiduciary Management Inc. WI now owns 6,151,621 shares of the company’s stock worth $544,418,000 after buying an additional 617,723 shares in the last quarter. Franklin Resources Inc. increased its stake in AmerisourceBergen Corporation (Holding Co) by 23.1% in the 2nd quarter. Franklin Resources Inc. now owns 3,902,289 shares of the company’s stock worth $368,884,000 after buying an additional 731,466 shares in the last quarter. Finally, FIL Ltd increased its stake in AmerisourceBergen Corporation (Holding Co) by 14.4% in the 2nd quarter. FIL Ltd now owns 3,477,157 shares of the company’s stock worth $328,696,000 after buying an additional 437,132 shares in the last quarter. Hedge funds and other institutional investors own 67.67% of the company’s stock.

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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