Vetr upgraded shares of AmerisourceBergen Corp. (NYSE:ABC) from a buy rating to a strong-buy rating in a research report report published on Tuesday, April 18th. The brokerage currently has $97.44 target price on the stock.
ABC has been the topic of several other research reports. Needham & Company LLC assumed coverage on AmerisourceBergen Corp. in a report on Tuesday, April 4th. They issued a buy rating and a $99.00 price target on the stock. Leerink Swann raised AmerisourceBergen Corp. from a market perform rating to an outperform rating and set a $95.00 price target on the stock in a report on Tuesday, January 17th. Mizuho downgraded shares of AmerisourceBergen Corp. from a buy rating to a neutral rating and set a $83.00 target price on the stock. in a research note on Tuesday, January 3rd. Zacks Investment Research raised shares of AmerisourceBergen Corp. from a hold rating to a buy rating and set a $95.00 target price on the stock in a research note on Tuesday, January 17th. Finally, Credit Suisse Group AG reissued a buy rating on shares of AmerisourceBergen Corp. in a research note on Sunday, February 5th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $94.00.
Shares of AmerisourceBergen Corp. (NYSE:ABC) traded up 3.07% during trading on Tuesday, hitting $89.35. The stock had a trading volume of 1,158,304 shares. The firm has a market cap of $19.51 billion, a P/E ratio of 17.34 and a beta of 0.82. The firm’s 50-day moving average is $85.68 and its 200-day moving average is $84.02. AmerisourceBergen Corp. has a one year low of $68.38 and a one year high of $94.50.
AmerisourceBergen Corp. (NYSE:ABC) last announced its earnings results on Thursday, May 4th. The company reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.09. AmerisourceBergen Corp. had a return on equity of 62.44% and a net margin of 0.91%. The firm had revenue of $37.15 billion for the quarter, compared to analysts’ expectations of $38.07 billion. During the same quarter in the previous year, the company earned $1.68 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts forecast that AmerisourceBergen Corp. will post $5.87 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 5th. Stockholders of record on Monday, May 22nd will be given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, May 18th. AmerisourceBergen Corp.’s dividend payout ratio is currently 24.37%.
In related news, insider Gina Clark sold 12,000 shares of the stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $89.03, for a total value of $1,068,360.00. Following the completion of the transaction, the insider now owns 12,103 shares of the company’s stock, valued at $1,077,530.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 15,000 shares of the stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $88.35, for a total transaction of $1,325,250.00. Following the completion of the transaction, the chairman now directly owns 253,876 shares of the company’s stock, valued at approximately $22,429,944.60. The disclosure for this sale can be found here. Insiders have sold 51,958 shares of company stock valued at $4,537,753 in the last ninety days. 27.40% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Integrated Wealth Management boosted its stake in shares of AmerisourceBergen Corp. by 16.5% in the third quarter. Integrated Wealth Management now owns 1,265 shares of the company’s stock valued at $102,000 after buying an additional 179 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in shares of AmerisourceBergen Corp. during the first quarter valued at $105,000. American Beacon Advisors Inc. bought a new stake in AmerisourceBergen Corp. during the first quarter valued at approximately $108,000. SRS Capital Advisors Inc. boosted its stake in AmerisourceBergen Corp. by 0.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,235 shares of the company’s stock valued at $109,000 after buying an additional 4 shares during the period. Finally, Apriem Advisors boosted its stake in AmerisourceBergen Corp. by 460.0% in the third quarter. Apriem Advisors now owns 1,400 shares of the company’s stock valued at $113,000 after buying an additional 1,150 shares during the period. 69.11% of the stock is currently owned by hedge funds and other institutional investors.
About AmerisourceBergen Corp.
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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