AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) EVP Peyton R. Howell sold 9,423 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $85.80, for a total transaction of $808,493.40. Following the completion of the sale, the executive vice president now owns 57,412 shares of the company’s stock, valued at approximately $4,925,949.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
AmerisourceBergen Corporation (ABC) opened at $85.99 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.83. The firm has a market cap of $18,731.06, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.49 and a beta of 1.00. AmerisourceBergen Corporation has a 1 year low of $71.90 and a 1 year high of $97.85.
AmerisourceBergen (NYSE:ABC) last issued its earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.01. The firm had revenue of $39.12 billion during the quarter, compared to analyst estimates of $40.10 billion. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $1.30 earnings per share. sell-side analysts expect that AmerisourceBergen Corporation will post 6.07 EPS for the current fiscal year.
Several analysts have recently commented on ABC shares. Jefferies Group set a $95.00 target price on shares of AmerisourceBergen and gave the company a “hold” rating in a report on Tuesday, August 29th. ValuEngine downgraded shares of AmerisourceBergen from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Needham & Company LLC reiterated a “buy” rating and issued a $91.00 target price on shares of AmerisourceBergen in a report on Sunday, September 10th. Morgan Stanley downgraded shares of AmerisourceBergen from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 14th. Finally, Royal Bank Of Canada started coverage on shares of AmerisourceBergen in a report on Tuesday, September 19th. They set a “sector perform” rating and a $87.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $91.95.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of AmerisourceBergen by 2.0% in the second quarter. Vanguard Group Inc. now owns 15,653,245 shares of the company’s stock valued at $1,479,701,000 after acquiring an additional 304,628 shares during the period. JPMorgan Chase & Co. boosted its position in shares of AmerisourceBergen by 107.3% in the third quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock valued at $434,385,000 after acquiring an additional 2,776,287 shares during the period. Franklin Resources Inc. boosted its position in shares of AmerisourceBergen by 23.1% in the second quarter. Franklin Resources Inc. now owns 3,902,289 shares of the company’s stock valued at $368,884,000 after acquiring an additional 731,466 shares during the period. Wells Fargo & Company MN boosted its position in shares of AmerisourceBergen by 11.4% in the third quarter. Wells Fargo & Company MN now owns 3,726,377 shares of the company’s stock valued at $308,358,000 after acquiring an additional 381,936 shares during the period. Finally, FIL Ltd boosted its position in shares of AmerisourceBergen by 14.4% in the second quarter. FIL Ltd now owns 3,477,157 shares of the company’s stock valued at $328,696,000 after acquiring an additional 437,132 shares during the period. Institutional investors own 67.83% of the company’s stock.
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AmerisourceBergen Company Profile
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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