AmerisourceBergen (NYSE:ABC) has been assigned a $99.00 price objective by research analysts at Robert W. Baird in a report issued on Friday. The brokerage presently has a “buy” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 16.54% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley cut shares of AmerisourceBergen from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 14th. Mizuho set a $92.00 price objective on shares of AmerisourceBergen and gave the company a “hold” rating in a report on Tuesday, October 24th. Zacks Investment Research cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. ValuEngine cut shares of AmerisourceBergen from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Cowen raised shares of AmerisourceBergen from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $91.44.

AmerisourceBergen (ABC) opened at $84.95 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.83. AmerisourceBergen has a twelve month low of $71.90 and a twelve month high of $97.85. The firm has a market cap of $18,497.71, a P/E ratio of 14.40, a PEG ratio of 1.47 and a beta of 0.99.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the company earned $1.30 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. analysts anticipate that AmerisourceBergen will post 6.06 EPS for the current fiscal year.

In other AmerisourceBergen news, insider Dale Danilewitz sold 2,012 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $85.00, for a total transaction of $171,020.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Tim G. Guttman sold 11,600 shares of the company’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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,670 shares of company stock valued at $7,038,258. 27.40% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC boosted its position in shares of AmerisourceBergen by 3.2% in the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after purchasing an additional 34 shares during the period. Sun Life Financial INC boosted its position in shares of AmerisourceBergen by 15,000.0% in the second 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 during the period. D.A. Davidson & CO. boosted its position in shares of AmerisourceBergen by 29.0% in the second quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock worth $157,000 after purchasing an additional 375 shares during the period. Intl Fcstone Inc. bought a new position in shares of AmerisourceBergen in the second quarter worth approximately $201,000. Finally, Pinnacle Associates Ltd. bought a new position in shares of AmerisourceBergen in the second quarter worth approximately $203,000. Institutional investors and hedge funds own 68.22% of the company’s stock.

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About AmerisourceBergen

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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