Jefferies Group Analysts Give AmerisourceBergen (ABC) a $95.00 Price Target

AmerisourceBergen (NYSE:ABC) has been assigned a $95.00 price target by investment analysts at Jefferies Group in a report issued on Wednesday. The brokerage presently has a “hold” rating on the stock. Jefferies Group’s price objective would indicate a potential upside of 3.77% from the company’s current price.

A number of other research analysts also recently weighed in on ABC. Cowen upgraded shares of AmerisourceBergen from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 10th. Zacks Investment Research upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Needham & Company LLC set a $93.00 price target on shares of AmerisourceBergen and gave the company a “buy” rating in a report on Tuesday, October 24th. Mizuho set a $92.00 price target on shares of AmerisourceBergen and gave the company a “hold” rating in a report on Tuesday, October 24th. Finally, ValuEngine upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten 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 an average price target of $101.17.

AmerisourceBergen (NYSE:ABC) traded down $2.67 during trading on Wednesday, hitting $91.55. 1,742,133 shares of the stock were exchanged, compared to its average volume of 1,690,000. The company has a market cap of $20,110.00, a P/E ratio of 20.76, a P/E/G ratio of 1.47 and a beta of 1.02. The company has a quick ratio of 0.48, a current ratio of 0.95 and a debt-to-equity ratio of 1.48. AmerisourceBergen has a fifty-two week low of $71.90 and a fifty-two week high of $106.27.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Tuesday, February 6th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.20. The business had revenue of $40.47 billion for the quarter, compared to the consensus estimate of $40.42 billion. AmerisourceBergen had a net margin of 0.66% and a return on equity of 53.65%. AmerisourceBergen’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 EPS. equities research analysts anticipate that AmerisourceBergen will post 6.56 EPS for the current year.

In other AmerisourceBergen news, insider Peyton R. Howell sold 3,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $91.60, for a total value of $274,800.00. Following the sale, the insider now directly owns 49,189 shares in the company, valued at approximately $4,505,712.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $98.58, for a total transaction of $2,104,683.00. Following the completion of the sale, the chairman now owns 287,925 shares in the company, valued at $28,383,646.50. The disclosure for this sale can be found here. Insiders sold a total of 204,934 shares of company stock worth $18,427,430 over the last quarter. 27.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in AmerisourceBergen by 107.3% in the 3rd 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 last quarter. Wells Fargo & Company MN grew its position in AmerisourceBergen by 11.4% in the 3rd quarter. Wells Fargo & Company MN now owns 3,726,377 shares of the company’s stock worth $308,358,000 after purchasing an additional 381,936 shares during the last quarter. Harding Loevner LP grew its position in AmerisourceBergen by 89.6% in the 3rd quarter. Harding Loevner LP now owns 3,166,794 shares of the company’s stock worth $134,939,000 after purchasing an additional 1,496,761 shares during the last quarter. Burgundy Asset Management Ltd. grew its position in AmerisourceBergen by 1.9% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 2,698,948 shares of the company’s stock worth $223,338,000 after purchasing an additional 49,825 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. grew its position in AmerisourceBergen by 23.3% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,374,727 shares of the company’s stock worth $174,194,000 after purchasing an additional 449,330 shares during the last quarter. 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.

Analyst Recommendations for AmerisourceBergen (NYSE:ABC)

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