AmerisourceBergen Corporation (Holding Co) (ABC) Receives Average Rating of “Hold” from Brokerages

Shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) have been given an average rating of “Hold” by the sixteen research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $91.14.

ABC has been the subject of several recent research reports. Zacks Investment Research downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Robert W. Baird reaffirmed a “buy” rating and issued a $96.00 price objective on shares of AmerisourceBergen in a research note on Monday, November 6th. ValuEngine downgraded AmerisourceBergen from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Cowen raised AmerisourceBergen from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 10th. Finally, Mizuho set a $92.00 price objective on AmerisourceBergen and gave the company a “hold” rating in a research note on Tuesday, October 24th.

In other news, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $79.47, for a total transaction of $921,852.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dale Danilewitz sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $74.69, for a total transaction of $138,699.33. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,670 shares of company stock valued at $7,038,258. Insiders own 27.40% of the company’s stock.

Several hedge funds have recently made changes to their positions in ABC. Campbell & CO Investment Adviser LLC acquired a new stake in shares of AmerisourceBergen during the 2nd quarter worth approximately $219,000. Municipal Employees Retirement System of Michigan lifted its holdings in shares of AmerisourceBergen by 49.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,060 shares of the company’s stock worth $762,000 after purchasing an additional 2,670 shares in the last quarter. NGAM Advisors L.P. lifted its holdings in shares of AmerisourceBergen by 27.8% in the 2nd quarter. NGAM Advisors L.P. now owns 61,785 shares of the company’s stock worth $5,841,000 after purchasing an additional 13,432 shares in the last quarter. IBM Retirement Fund lifted its holdings in shares of AmerisourceBergen by 28.3% in the 2nd quarter. IBM Retirement Fund now owns 2,353 shares of the company’s stock worth $222,000 after purchasing an additional 519 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of AmerisourceBergen by 5.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 20,663 shares of the company’s stock worth $1,953,000 after purchasing an additional 1,080 shares in the last quarter. 68.22% of the stock is owned by institutional investors.

AmerisourceBergen (NYSE:ABC) traded up $0.13 during mid-day trading on Friday, hitting $84.95. 3,188,555 shares of the stock were exchanged, compared to its average volume of 1,795,807. The company has a market capitalization of $18,530.00, a PE ratio of 14.12, a P/E/G ratio of 1.44 and a beta of 0.95. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.91 and a quick ratio of 0.48. AmerisourceBergen has a 52-week low of $71.90 and a 52-week high of $97.85.

AmerisourceBergen (NYSE:ABC) last posted its earnings results on Thursday, November 2nd. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.01. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The firm had revenue of $39.12 billion during the quarter, compared to analysts’ expectations of $40.10 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. sell-side analysts forecast that AmerisourceBergen will post 6.06 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 20th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Friday, November 17th. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.37. AmerisourceBergen’s dividend payout ratio is currently 93.83%.

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AmerisourceBergen 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 (NYSE:ABC)

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