Equities researchers at Deutsche Bank started coverage on shares of AmerisourceBergen (NYSE:ABC) in a research note issued on Thursday, BenzingaRatingsTable reports. The brokerage set a “hold” rating and a $91.00 price target on the stock. Deutsche Bank’s target price indicates a potential upside of 3.66% from the company’s current price.
Several other research analysts also recently issued reports on the company. Argus cut their price objective on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, June 3rd. Morgan Stanley cut their price objective on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a research report on Friday, September 6th. TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b” rating in a research report on Thursday, August 1st. ValuEngine downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Finally, Zacks Investment Research upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Wednesday, June 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. AmerisourceBergen has an average rating of “Hold” and an average price target of $87.38.
ABC stock opened at $87.79 on Thursday. The firm has a 50 day moving average of $86.21 and a 200-day moving average of $82.00. AmerisourceBergen has a 12-month low of $69.36 and a 12-month high of $94.85. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. The company has a market cap of $18.29 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.56 and a beta of 1.00.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.14. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The company had revenue of $45.24 billion during the quarter, compared to the consensus estimate of $45.15 billion. During the same period last year, the firm earned $1.54 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Sell-side analysts forecast that AmerisourceBergen will post 7.05 earnings per share for the current fiscal year.
In other news, Director Henry Wadsworth Mcgee III sold 10,585 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $91.97, for a total transaction of $973,502.45. Following the completion of the sale, the director now directly owns 24,510 shares of the company’s stock, valued at approximately $2,254,184.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Chou sold 13,997 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.58, for a total transaction of $1,253,851.26. Following the sale, the insider now directly owns 65,782 shares of the company’s stock, valued at $5,892,751.56. The disclosure for this sale can be found here. Insiders have sold a total of 186,215 shares of company stock valued at $16,240,235 over the last three months. Corporate insiders own 27.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in AmerisourceBergen by 8.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 960,038 shares of the company’s stock worth $71,426,000 after purchasing an additional 73,642 shares during the period. Geode Capital Management LLC boosted its position in AmerisourceBergen by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 1,954,861 shares of the company’s stock worth $145,173,000 after purchasing an additional 114,505 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in AmerisourceBergen by 238.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 10,240 shares of the company’s stock worth $813,000 after purchasing an additional 7,218 shares during the period. Stephens Inc. AR boosted its position in AmerisourceBergen by 1.7% during the 1st quarter. Stephens Inc. AR now owns 26,786 shares of the company’s stock worth $2,130,000 after purchasing an additional 456 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its position in AmerisourceBergen by 3.0% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 13,845 shares of the company’s stock worth $1,101,000 after purchasing an additional 400 shares during the period. 66.10% of the stock is owned by institutional investors.
AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.
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