Equities research analysts at Evercore ISI started coverage on shares of AmerisourceBergen (NYSE:ABC) in a report released on Thursday, The Fly reports. The brokerage set an “outperform” rating on the stock.
ABC has been the subject of a number of other reports. Cowen raised shares of AmerisourceBergen from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 10th. Jefferies Group set a $85.00 target price on shares of AmerisourceBergen and gave the stock a “hold” rating in a research note on Sunday, October 29th. Zacks Investment Research lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Goldman Sachs Group upgraded shares of AmerisourceBergen from a “neutral” rating to a “buy” rating in a research note on Friday, December 15th. Finally, Leerink Swann set a $105.00 price objective on shares of AmerisourceBergen and gave the stock a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $95.26.
AmerisourceBergen (NYSE ABC) traded down $0.21 on Thursday, hitting $94.18. 1,781,346 shares of the company were exchanged, compared to its average volume of 1,086,650. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.48 and a current ratio of 0.91. AmerisourceBergen has a 1-year low of $71.90 and a 1-year high of $97.85. The company has a market cap of $20,310.00, a PE ratio of 58.14, a P/E/G ratio of 1.63 and a beta of 0.99.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 EPS for the quarter, beating the Zacks’ 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 business 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 company earned $1.30 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. research analysts predict that AmerisourceBergen will post 6.08 earnings per share for the current year.
In related news, SVP Lazarus Krikorian sold 16,427 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $84.86, for a total value of $1,393,995.22. Following the completion of the sale, the senior vice president now directly owns 23,360 shares in the company, valued at approximately $1,982,329.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dale Danilewitz sold 3,121 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $92.12, for a total transaction of $287,506.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 187,223 shares of company stock valued at $15,583,298. Company insiders own 27.40% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in AmerisourceBergen by 1,139.3% in the 1st quarter. BlackRock Inc. now owns 12,673,530 shares of the company’s stock valued at $1,121,608,000 after acquiring an additional 11,650,881 shares during the period. Vulcan Value Partners LLC increased its holdings in shares of AmerisourceBergen by 251.4% during the fourth quarter. Vulcan Value Partners LLC now owns 5,440,860 shares of the company’s stock worth $425,421,000 after purchasing an additional 3,892,674 shares during the period. FIL Ltd bought a new position in shares of AmerisourceBergen during the first quarter worth approximately $269,043,000. JPMorgan Chase & Co. increased its holdings in shares of AmerisourceBergen by 107.3% during the third quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock worth $434,385,000 after purchasing an additional 2,776,287 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of AmerisourceBergen by 660.8% during the second quarter. Janus Henderson Group PLC now owns 2,574,746 shares of the company’s stock worth $243,392,000 after purchasing an additional 2,236,319 shares during the period. Institutional investors and hedge funds own 67.83% of the company’s stock.
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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.