AmerisourceBergen (ABC) PT Set at $100.00 by Mizuho

AmerisourceBergen (NYSE:ABC) has been assigned a $100.00 price objective by investment analysts at Mizuho in a research note issued to investors on Wednesday. The brokerage presently has a “hold” rating on the stock. Mizuho’s price target would suggest a potential downside of 4.42% from the company’s current price.

Several other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Cowen upgraded shares of AmerisourceBergen from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 10th. Robert W. Baird upgraded shares of AmerisourceBergen from a “neutral” rating to an “outperform” rating and increased their target price for the company from $89.00 to $96.00 in a report on Thursday, October 5th. Deutsche Bank initiated coverage on shares of AmerisourceBergen in a report on Monday, December 4th. They issued a “buy” rating and a $97.00 target price for the company. Finally, Goldman Sachs Group upgraded shares of AmerisourceBergen from a “neutral” rating to a “buy” rating in a report on Friday, December 15th. 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 stock presently has a consensus rating of “Buy” and an average price target of $98.39.

AmerisourceBergen (NYSE:ABC) traded up $1.81 during trading on Wednesday, hitting $104.62. 2,110,000 shares of the company’s stock were exchanged, compared to its average volume of 1,540,000. AmerisourceBergen has a 12-month low of $71.90 and a 12-month high of $104.96. The company has a market capitalization of $22,820.00, a price-to-earnings ratio of 64.58, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. 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 (NYSE:ABC) last announced its earnings results on Thursday, November 2nd. The company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.01. The company had revenue of $39.12 billion during the quarter, compared to the consensus estimate of $40.10 billion. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 earnings per share. sell-side analysts forecast that AmerisourceBergen will post 6.24 earnings per share for the current fiscal year.

In related news, Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $76.94, for a total transaction of $1,642,669.00. Following the completion of the sale, the chairman now owns 260,226 shares in the company, valued at $20,021,788.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard W. Gochnauer sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $96.54, for a total transaction of $193,080.00. Following the sale, the director now owns 12,947 shares of the company’s stock, valued at approximately $1,249,903.38. The disclosure for this sale can be found here. Insiders have sold 203,823 shares of company stock valued at $17,145,148 in the last 90 days. 27.40% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sun Life Financial INC increased its holdings in AmerisourceBergen by 15,000.0% during the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock worth $114,000 after buying an additional 1,200 shares during the last quarter. D.A. Davidson & CO. increased its holdings in AmerisourceBergen by 29.0% during the second quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock worth $157,000 after buying an additional 375 shares during the last quarter. Vantage Investment Advisors LLC purchased a new stake in AmerisourceBergen during the fourth quarter worth about $156,000. Intl Fcstone Inc. bought a new position in AmerisourceBergen during the second quarter worth about $201,000. Finally, TRUE Private Wealth Advisors bought a new position in AmerisourceBergen during the fourth quarter worth about $203,000. Institutional investors and hedge funds own 67.92% of the company’s stock.

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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.