AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) has been assigned a $93.00 price target by research analysts at Needham & Company LLC in a research note issued on Tuesday. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 13.62% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research raised AmerisourceBergen Corporation (Holding Co) from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Cowen and Company raised AmerisourceBergen Corporation (Holding Co) from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 10th. Robert W. Baird raised AmerisourceBergen Corporation (Holding Co) from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $89.00 to $96.00 in a research note on Thursday, October 5th. Royal Bank Of Canada began coverage on AmerisourceBergen Corporation (Holding Co) in a research note on Tuesday, September 19th. They issued a “sector perform” rating and a $87.00 price target for the company. Finally, Morgan Stanley cut AmerisourceBergen Corporation (Holding Co) from an “overweight” rating to an “equal weight” rating in a research note on Thursday, September 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $92.13.

Shares of AmerisourceBergen Corporation (NYSE:ABC) traded down 0.82% on Tuesday, reaching $81.85. 1,166,044 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $81.42 and its 200-day moving average price is $86.27. The company has a market capitalization of $17.93 billion, a P/E ratio of 21.33 and a beta of 0.96. AmerisourceBergen Corporation has a 12 month low of $68.38 and a 12 month high of $97.85.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.06. The business had revenue of $38.71 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.37 EPS. 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 Peyton R. Howell sold 20,000 shares of the stock in a transaction that occurred 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 directly owns 57,135 shares of the company’s stock, valued at $4,570,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dale Danilewitz sold 2,012 shares of the stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $85.00, for a total value of $171,020.00. The disclosure for this sale can be found here. Insiders have sold 64,728 shares of company stock valued at $5,215,143 in the last ninety days. Company insiders own 27.40% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC boosted its position in shares of AmerisourceBergen Corporation (Holding Co) by 3.2% in the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock valued at $104,000 after acquiring an additional 34 shares during the period. Point72 Asia Hong Kong Ltd bought a new stake in shares of AmerisourceBergen Corporation (Holding Co) in the first quarter valued at approximately $105,000. Sun Life Financial INC boosted its position in shares of AmerisourceBergen Corporation (Holding Co) by 15,000.0% in the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock valued at $114,000 after acquiring an additional 1,200 shares during the period. American Beacon Advisors Inc. bought a new stake in shares of AmerisourceBergen Corporation (Holding Co) in the first quarter valued at approximately $108,000. Finally, D.A. Davidson & CO. boosted its position in shares of AmerisourceBergen Corporation (Holding Co) by 29.0% in the second quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock valued at $157,000 after acquiring an additional 375 shares during the period. 67.72% of the stock is owned by institutional investors.

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.

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

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