AmerisourceBergen Corp. (ABC) Lowered to “Neutral” at Cleveland Research
A number of other research firms have also recently commented on ABC. Avondale Partners upgraded shares of AmerisourceBergen Corp. from a market perform rating to an outperform rating in a research report on Tuesday, October 4th. Deutsche Bank AG upped their price objective on shares of AmerisourceBergen Corp. from $83.00 to $96.00 and gave the company a hold rating in a research report on Wednesday, August 3rd. Credit Suisse Group AG restated a buy rating and issued a $98.00 price objective on shares of AmerisourceBergen Corp. in a research report on Friday, August 26th. Barclays PLC upped their price objective on shares of AmerisourceBergen Corp. from $83.00 to $89.00 and gave the company an equal weight rating in a research report on Wednesday, August 3rd. Finally, Mizuho upped their price objective on shares of AmerisourceBergen Corp. from $80.00 to $90.00 and gave the company a neutral rating in a research report on Thursday, August 11th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $96.61.
Shares of AmerisourceBergen Corp. (NYSE:ABC) traded down 0.16% during mid-day trading on Monday, hitting $79.51. The company’s stock had a trading volume of 157,326 shares. The company has a 50-day moving average price of $84.28 and a 200-day moving average price of $82.94. The stock has a market cap of $17.07 billion, a PE ratio of 10.73 and a beta of 0.75. AmerisourceBergen Corp. has a 1-year low of $73.31 and a 1-year high of $105.81.
AmerisourceBergen Corp. (NYSE:ABC) last issued its earnings results on Tuesday, August 2nd. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.27 by $0.10. The company earned $36.90 billion during the quarter, compared to analysts’ expectations of $36.57 billion. AmerisourceBergen Corp. had a net margin of 1.14% and a return on equity of 83.93%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. Analysts predict that AmerisourceBergen Corp. will post $5.55 EPS for the current fiscal year.
In other AmerisourceBergen Corp. news, Director Henry Wadsworth Mcgee III sold 3,351 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $82.10, for a total value of $275,117.10. Following the sale, the director now owns 10,901 shares in the company, valued at $894,972.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lon R. Greenberg bought 4,000 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was bought at an average price of $88.59 per share, for a total transaction of $354,360.00. Following the transaction, the director now directly owns 9,500 shares of the company’s stock, valued at $841,605. The disclosure for this purchase can be found here. 6.90% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. UBS Asset Management Americas Inc. raised its stake in shares of AmerisourceBergen Corp. by 31.6% in the first quarter. UBS Asset Management Americas Inc. now owns 982,403 shares of the company’s stock worth $85,027,000 after buying an additional 235,800 shares in the last quarter. Smith & Howard Wealth Management LLC raised its stake in shares of AmerisourceBergen Corp. by 32.5% in the first quarter. Smith & Howard Wealth Management LLC now owns 4,827 shares of the company’s stock worth $418,000 after buying an additional 1,184 shares in the last quarter. Pegasus Partners Ltd. bought a new stake in shares of AmerisourceBergen Corp. during the first quarter worth $560,000. BB&T Securities LLC raised its stake in shares of AmerisourceBergen Corp. by 8.7% in the first quarter. BB&T Securities LLC now owns 63,602 shares of the company’s stock worth $5,504,000 after buying an additional 5,069 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its stake in shares of AmerisourceBergen Corp. by 20.4% in the first quarter. OMERS ADMINISTRATION Corp now owns 90,200 shares of the company’s stock worth $7,807,000 after buying an additional 15,300 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.
AmerisourceBergen Corp. Company Profile
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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