Shares of AmerisourceBergen Corp. (NYSE:ABC) have earned an average rating of “Hold” from the nineteen ratings firms that are presently covering the firm. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $95.32.
A number of equities analysts have issued reports on the stock. Cleveland Research lowered shares of AmerisourceBergen Corp. from a “buy” rating to a “neutral” rating in a research report on Monday, October 10th. Leerink Swann reissued a “buy” rating and set a $100.00 price target on shares of AmerisourceBergen Corp. in a research report on Friday, October 7th. Avondale Partners raised shares of AmerisourceBergen Corp. from a “market perform” rating to an “outperform” rating in a research report on Tuesday, October 4th. Morgan Stanley reissued a “hold” rating and set a $89.00 price target on shares of AmerisourceBergen Corp. in a research report on Monday, September 12th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $98.00 price objective on shares of AmerisourceBergen Corp. in a research note on Friday, August 26th.
In other news, Director Lon R. Greenberg acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were bought at an average price of $88.59 per share, for a total transaction of $354,360.00. Following the acquisition, the director now owns 9,500 shares of the company’s stock, valued at approximately $841,605. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John G. Chou sold 63,750 shares of the firm’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $85.70, for a total value of $5,463,375.00. Following the completion of the transaction, the insider now owns 104,043 shares in the company, valued at approximately $8,916,485.10. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fiduciary Management Inc. WI raised its position in shares of AmerisourceBergen Corp. by 48.1% in the second quarter. Fiduciary Management Inc. WI now owns 3,987,920 shares of the company’s stock worth $316,322,000 after buying an additional 1,294,938 shares during the last quarter. Burgundy Asset Management Ltd. raised its position in AmerisourceBergen Corp. by 17.9% in the second quarter. Burgundy Asset Management Ltd. now owns 2,614,053 shares of the company’s stock valued at $207,347,000 after buying an additional 396,778 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in AmerisourceBergen Corp. during the second quarter valued at approximately $112,709,000. Acadian Asset Management LLC raised its position in AmerisourceBergen Corp. by 21.6% in the second quarter. Acadian Asset Management LLC now owns 1,341,181 shares of the company’s stock valued at $106,383,000 after buying an additional 238,198 shares in the last quarter. Finally, Royal Bank of Canada raised its position in AmerisourceBergen Corp. by 6.8% in the second quarter. Royal Bank of Canada now owns 1,283,381 shares of the company’s stock valued at $101,799,000 after buying an additional 82,034 shares in the last quarter. Institutional investors own 66.15% of the company’s stock.
AmerisourceBergen Corp. (NYSE:ABC) opened at 79.79 on Wednesday. The stock has a market cap of $17.13 billion, a P/E ratio of 10.76 and a beta of 0.75. The stock has a 50 day moving average of $83.39 and a 200 day moving average of $82.83. AmerisourceBergen Corp. has a 12-month low of $73.31 and a 12-month high of $105.81.
AmerisourceBergen Corp. (NYSE:ABC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.10. AmerisourceBergen Corp. had a net margin of 1.14% and a return on equity of 83.93%. The company earned $36.90 billion during the quarter, compared to analyst estimates of $36.57 billion. During the same period last year, the firm posted $1.20 EPS. AmerisourceBergen Corp.’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that AmerisourceBergen Corp. will post $5.55 earnings per share for the current fiscal year.
About AmerisourceBergen Corp.
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company operates through two segments: Pharmaceutical Distribution and Other. The Company also provides data and other services to its manufacturing customers. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers.
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