Shares of AmerisourceBergen Corp. (NYSE:ABC) have received a consensus recommendation of “Buy” from the nineteen analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $96.39.
Several equities research analysts have weighed in on ABC shares. Needham & Company LLC set a $93.00 price target on AmerisourceBergen and gave the stock a “buy” rating in a report on Tuesday, October 24th. Deutsche Bank started coverage on AmerisourceBergen in a report on Monday, December 4th. They set a “buy” rating and a $97.00 price target on the stock. Robert W. Baird set a $99.00 price target on AmerisourceBergen and gave the stock a “buy” rating in a report on Friday, December 1st. ValuEngine upgraded AmerisourceBergen from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Finally, Cowen set a $107.00 price target on AmerisourceBergen and gave the stock a “buy” rating in a report on Tuesday, December 12th.
AmerisourceBergen (ABC) traded down $0.80 during mid-day trading on Friday, hitting $100.06. The company had a trading volume of 1,370,000 shares, compared to its average volume of 1,580,000. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.91 and a quick ratio of 0.48. The stock has a market cap of $21,820.00, a P/E ratio of 61.77, a PEG ratio of 1.70 and a beta of 0.99. AmerisourceBergen has a 52-week low of $71.90 and a 52-week high of $101.85.
In other news, SVP Lazarus Krikorian sold 16,427 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $84.86, for a total value of $1,393,995.22. Following the transaction, the senior vice president now owns 23,360 shares in the company, valued at approximately $1,982,329.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard W. Gochnauer sold 2,000 shares of the stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $96.54, for a total value of $193,080.00. Following the completion of the transaction, the director now owns 12,947 shares in the company, valued at approximately $1,249,903.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 203,823 shares of company stock worth $17,145,148. Company insiders own 27.40% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its holdings in shares of AmerisourceBergen by 2.4% in the 2nd quarter. Advisory Services Network LLC now owns 4,367 shares of the company’s stock valued at $413,000 after acquiring an additional 101 shares during the last quarter. Thrivent Financial For Lutherans increased its holdings in shares of AmerisourceBergen by 3.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 6,250 shares of the company’s stock valued at $591,000 after acquiring an additional 180 shares during the last quarter. Linscomb & Williams Inc. increased its holdings in shares of AmerisourceBergen by 2.5% in the 2nd quarter. Linscomb & Williams Inc. now owns 12,486 shares of the company’s stock valued at $1,180,000 after acquiring an additional 299 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of AmerisourceBergen by 29.0% in the 2nd quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock valued at $157,000 after purchasing an additional 375 shares during the period. Finally, Westover Capital Advisors LLC boosted its position in shares of AmerisourceBergen by 2.8% in the 2nd quarter. Westover Capital Advisors LLC now owns 14,875 shares of the company’s stock valued at $1,406,000 after purchasing an additional 408 shares during the period. Institutional investors and hedge funds own 67.83% of the company’s stock.
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.
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