Shares of AmerisourceBergen Corp. (NYSE:ABC) have been assigned a consensus recommendation of “Buy” from the nineteen brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $101.17.
Several research analysts have issued reports on ABC shares. Credit Suisse Group reiterated an “outperform” rating and set a $112.00 target price (up from $105.00) on shares of AmerisourceBergen in a report on Wednesday, February 7th. They noted that the move was a valuation call. Needham & Company LLC increased their target price on shares of AmerisourceBergen from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, November 22nd. Mizuho set a $100.00 target price on shares of AmerisourceBergen and gave the stock a “hold” rating in a report on Wednesday, January 24th. Robert W. Baird reiterated a “buy” rating and set a $96.00 target price on shares of AmerisourceBergen in a report on Monday, November 6th. Finally, TheStreet upgraded shares of AmerisourceBergen from a “c” rating to a “b” rating in a report on Tuesday, February 6th.
AmerisourceBergen (ABC) traded down $1.32 during midday trading on Wednesday, hitting $96.45. 3,242,865 shares of the stock were exchanged, compared to its average volume of 2,177,976. The company has a current ratio of 0.95, a quick ratio of 0.50 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $21,480.00, a PE ratio of 21.89, a PEG 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 also recently declared a quarterly dividend, which will be paid on Monday, March 5th. Stockholders of record on Tuesday, February 20th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, February 16th. AmerisourceBergen’s dividend payout ratio is currently 34.47%.
In related news, CFO Tim G. Guttman sold 11,600 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $85.73, for a total value of $994,468.00. Following the completion of the transaction, the chief financial officer now directly owns 56,436 shares of the company’s stock, valued at approximately $4,838,258.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 21,350 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $82.53, for a total transaction of $1,762,015.50. Following the completion of the transaction, the chairman now directly owns 287,925 shares of the company’s stock, valued at $23,762,450.25. The disclosure for this sale can be found here. Insiders sold a total of 203,077 shares of company stock worth $18,288,730 over the last 90 days. Company insiders own 27.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC raised its position 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 purchasing an additional 101 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of AmerisourceBergen by 9.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 5,580 shares of the company’s stock valued at $512,000 after purchasing an additional 500 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of AmerisourceBergen by 8.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,298 shares of the company’s stock valued at $579,000 after purchasing an additional 507 shares during the last quarter. Bray Capital Advisors raised its position in shares of AmerisourceBergen by 2.5% in the 4th quarter. Bray Capital Advisors now owns 21,890 shares of the company’s stock valued at $2,010,000 after purchasing an additional 525 shares during the last quarter. Finally, Ridgewood Investments LLC raised its position in shares of AmerisourceBergen by 16.7% in the 4th quarter. Ridgewood Investments LLC now owns 4,093 shares of the company’s stock valued at $376,000 after purchasing an additional 586 shares during the last quarter. 66.84% of the stock is owned by hedge funds and other institutional investors.
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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