ValuEngine upgraded shares of AmerisourceBergen (NYSE:ABC) from a sell rating to a hold rating in a research note released on Wednesday, September 19th.
A number of other research analysts also recently weighed in on the company. Robert W. Baird downgraded AmerisourceBergen from an outperform rating to a neutral rating in a report on Friday, July 20th. Mizuho restated a hold rating and issued a $90.00 price target on shares of AmerisourceBergen in a research note on Sunday, August 12th. Finally, Morgan Stanley cut their price target on AmerisourceBergen from $97.00 to $88.00 and set an equal weight rating on the stock in a research note on Tuesday, July 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $101.80.
Shares of ABC stock traded up $1.17 during midday trading on Wednesday, reaching $88.48. 1,144,241 shares of the stock were exchanged, compared to its average volume of 1,585,188. AmerisourceBergen has a 1 year low of $71.90 and a 1 year high of $106.27. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.51 and a current ratio of 0.94. The company has a market capitalization of $19.95 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.44 and a beta of 1.02.
AmerisourceBergen (NYSE:ABC) last posted its earnings results on Thursday, August 2nd. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.08. AmerisourceBergen had a return on equity of 48.65% and a net margin of 0.69%. The firm had revenue of $43.14 billion for the quarter, compared to the consensus estimate of $43.05 billion. During the same quarter in the prior year, the business earned $1.43 EPS. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Sell-side analysts forecast that AmerisourceBergen will post 6.48 earnings per share for the current year.
In other news, CEO Steven H. Collis sold 21,350 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $81.25, for a total transaction of $1,734,687.50. Following the transaction, the chief executive officer now directly owns 287,925 shares of the company’s stock, valued at approximately $23,393,906.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kathy H. Gaddes sold 2,652 shares of the stock in a transaction on Monday, August 20th. The shares were sold at an average price of $87.71, for a total value of $232,606.92. Following the transaction, the insider now directly owns 3,891 shares in the company, valued at $341,279.61. The disclosure for this sale can be found here. Insiders sold a total of 89,074 shares of company stock worth $7,745,452 over the last ninety days. 27.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Wealth Planning LLC lifted its holdings in shares of AmerisourceBergen by 412.1% during the 2nd quarter. Capital Wealth Planning LLC now owns 12,577 shares of the company’s stock valued at $1,072,000 after buying an additional 10,121 shares during the period. Intrepid Capital Management Inc. increased its stake in shares of AmerisourceBergen by 7.1% in the 2nd quarter. Intrepid Capital Management Inc. now owns 157,485 shares of the company’s stock worth $13,429,000 after purchasing an additional 10,495 shares in the last quarter. Sio Capital Management LLC purchased a new stake in shares of AmerisourceBergen in the 2nd quarter worth $1,180,000. IBM Retirement Fund increased its stake in shares of AmerisourceBergen by 48.8% in the 1st quarter. IBM Retirement Fund now owns 3,502 shares of the company’s stock worth $302,000 after purchasing an additional 1,149 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of AmerisourceBergen by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 849,688 shares of the company’s stock worth $72,459,000 after purchasing an additional 23,216 shares in the last quarter. 66.67% of the stock is currently owned by hedge funds and other 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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