AmerisourceBergen (NYSE:ABC) had its price target reduced by stock analysts at Needham & Company LLC from $117.00 to $113.00 in a research note issued on Thursday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 26.70% from the company’s current price.
ABC has been the topic of several other research reports. Robert W. Baird reaffirmed a “buy” rating and set a $96.00 price objective on shares of AmerisourceBergen in a report on Monday, November 6th. Mizuho set a $92.00 price target on AmerisourceBergen and gave the stock a “hold” rating in a report on Tuesday, October 24th. Zacks Investment Research lowered AmerisourceBergen from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Jefferies Group set a $85.00 price target on AmerisourceBergen and gave the stock a “hold” rating in a report on Sunday, October 29th. Finally, ValuEngine raised AmerisourceBergen from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $101.17.
Shares of AmerisourceBergen (NYSE:ABC) traded down $2.36 during mid-day trading on Thursday, hitting $89.19. The company’s stock had a trading volume of 3,670,831 shares, compared to its average volume of 1,913,078. The stock has a market capitalization of $19,592.28, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02. AmerisourceBergen has a 12 month low of $71.90 and a 12 month high of $106.27. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.48 and a current ratio of 0.95.
In related news, Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $98.58, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Dale Danilewitz sold 1,857 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $74.69, for a total transaction of $138,699.33. The disclosure for this sale can be found here. In the last 90 days, insiders sold 204,934 shares of company stock valued at $18,427,430. 27.30% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Vantage Investment Advisors LLC acquired a new stake in AmerisourceBergen in the fourth quarter valued at about $156,000. Intl Fcstone Inc. acquired a new stake in AmerisourceBergen in the second quarter valued at about $201,000. TRUE Private Wealth Advisors acquired a new stake in AmerisourceBergen in the fourth quarter valued at about $203,000. Zeke Capital Advisors LLC acquired a new stake in AmerisourceBergen in the third quarter valued at about $210,000. Finally, IBM Retirement Fund acquired a new stake in AmerisourceBergen in the fourth quarter valued at about $216,000. Hedge funds and other institutional investors own 67.57% of the company’s stock.
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.
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