AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) was upgraded by research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage presently has a $96.00 target price on the stock, up from their previous target price of $89.00. Robert W. Baird’s price target would indicate a potential upside of 14.12% from the company’s previous close.

A number of other research analysts have also commented on ABC. BidaskClub raised AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $95.00 price objective on shares of AmerisourceBergen Corporation (Holding Co) in a report on Wednesday, June 21st. Bank of America Corporation lowered AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $95.76 to $94.00 in a report on Friday, June 30th. Zacks Investment Research lowered AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $95.00 price objective on shares of AmerisourceBergen Corporation (Holding Co) in a report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. AmerisourceBergen Corporation (Holding Co) has a consensus rating of “Hold” and an average price target of $91.95.

AmerisourceBergen Corporation (NYSE:ABC) traded up 1.67% during midday trading on Thursday, reaching $84.12. 2,136,222 shares of the company’s stock were exchanged. 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 $80.74 and a 200 day moving average price of $86.89. The company has a market cap of $18.43 billion, a P/E ratio of 21.92 and a beta of 0.96.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last posted its quarterly 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. AmerisourceBergen Corporation (Holding Co) had a return on equity of 56.07% and a net margin of 0.56%. The business had revenue of $38.71 billion for the quarter, compared to analysts’ expectations of $39.13 billion. During the same quarter in the prior year, the business earned $1.37 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts anticipate that AmerisourceBergen Corporation will post $5.88 EPS for the current year.

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In other news, insider Gina Clark sold 1,273 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $80.94, for a total transaction of $103,036.62. Following the sale, the insider now directly owns 10,830 shares of the company’s stock, valued at approximately $876,580.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Tim G. Guttman sold 11,600 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $82.78, for a total value of $960,248.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,716 shares of company stock worth $5,044,123. 27.40% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of AmerisourceBergen Corporation (Holding Co) by 2.0% during 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. grew its holdings in shares of AmerisourceBergen Corporation (Holding Co) by 1,139.3% during 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 grew its holdings in shares of AmerisourceBergen Corporation (Holding Co) by 11.2% during the 1st quarter. Fiduciary Management Inc. WI now owns 6,151,621 shares of the company’s stock worth $544,418,000 after purchasing an additional 617,723 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of AmerisourceBergen Corporation (Holding Co) by 23.1% during the 2nd quarter. Franklin Resources Inc. now owns 3,902,289 shares of the company’s stock worth $368,884,000 after purchasing an additional 731,466 shares in the last quarter. Finally, FIL Ltd grew its holdings in shares of AmerisourceBergen Corporation (Holding Co) by 14.4% during the 2nd quarter. FIL Ltd now owns 3,477,157 shares of the company’s stock worth $328,696,000 after purchasing an additional 437,132 shares in the last quarter. 67.64% of the stock is currently owned by institutional investors.

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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