AmerisourceBergen (ABC) Earns Outperform Rating from Credit Suisse Group

AmerisourceBergen (NYSE:ABC)‘s stock had its “outperform” rating reaffirmed by analysts at Credit Suisse Group in a research note issued on Wednesday, The Fly reports. They currently have a $112.00 price target on the stock, up from their prior price target of $105.00. Credit Suisse Group’s price target would suggest a potential upside of 22.35% from the company’s previous close. The analysts noted that the move was a valuation call.

ABC has been the topic of a number of other research reports. Robert W. Baird reissued a “buy” rating and set a $96.00 price objective on shares of AmerisourceBergen in a report on Monday, November 6th. Cowen raised shares of AmerisourceBergen from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 10th. Mizuho set a $92.00 price objective on shares of AmerisourceBergen and gave the stock a “hold” rating in a report on Tuesday, October 24th. Needham & Company LLC cut their price objective on shares of AmerisourceBergen from $93.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, November 6th. Finally, Jefferies Group set a $85.00 price objective on shares of AmerisourceBergen and gave the stock a “hold” rating in a report on Sunday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. AmerisourceBergen presently has a consensus rating of “Buy” and a consensus target price of $100.67.

Shares of AmerisourceBergen (NYSE ABC) opened at $91.54 on Wednesday. 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 1-year low of $71.90 and a 1-year high of $106.27. The firm has a market cap of $20,041.74, a P/E ratio of 49.48, a price-to-earnings-growth ratio of 1.54 and a beta of 1.02.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Tuesday, February 6th. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.20. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The company had revenue of $40.47 billion for the quarter, compared to analysts’ expectations of $40.42 billion. During the same quarter last year, the company earned $1.36 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. sell-side analysts expect that AmerisourceBergen will post 6.29 EPS for the current year.

In related news, insider Dale Danilewitz sold 4,459 shares of AmerisourceBergen stock in a transaction on Monday, November 20th. The shares were sold at an average price of $78.30, for a total value of $349,139.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Lazarus Krikorian sold 16,427 shares of AmerisourceBergen stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $84.86, for a total transaction of $1,393,995.22. Following the completion of the transaction, the senior vice president now owns 23,360 shares in the company, valued at $1,982,329.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 190,334 shares of company stock worth $17,045,642. 27.30% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the stock. Advisory Services Network LLC grew its position in 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 buying an additional 101 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in shares of AmerisourceBergen by 3.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 6,250 shares of the company’s stock worth $591,000 after purchasing an additional 180 shares in the last quarter. Linscomb & Williams Inc. boosted its position in shares of AmerisourceBergen by 2.5% during the 2nd quarter. Linscomb & Williams Inc. now owns 12,486 shares of the company’s stock worth $1,180,000 after purchasing an additional 299 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of AmerisourceBergen by 9.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 5,580 shares of the company’s stock worth $512,000 after purchasing an additional 500 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of AmerisourceBergen by 8.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,298 shares of the company’s stock worth $579,000 after purchasing an additional 507 shares in the last quarter. Hedge funds and other institutional investors own 67.57% 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.

The Fly

Analyst Recommendations for AmerisourceBergen (NYSE:ABC)

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