AmerisourceBergen Corp. (ABC) Receives $92.14 Average PT from Analysts
AmerisourceBergen Corp. (NYSE:ABC) has received a consensus recommendation of “Hold” from the nineteen analysts that are currently covering the firm. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $92.14.
ABC has been the subject of a number of research analyst reports. TheStreet downgraded AmerisourceBergen Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, November 2nd. Zacks Investment Research downgraded AmerisourceBergen Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 25th. Leerink Swann reiterated a “buy” rating and issued a $100.00 target price on shares of AmerisourceBergen Corp. in a report on Friday, October 7th. Avondale Partners upgraded AmerisourceBergen Corp. from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 4th. Finally, Morgan Stanley reiterated a “hold” rating and issued a $89.00 target price on shares of AmerisourceBergen Corp. in a report on Monday, September 12th.
Shares of AmerisourceBergen Corp. (NYSE:ABC) opened at 79.21 on Wednesday. The company has a market cap of $17.43 billion, a PE ratio of 12.53 and a beta of 0.80. AmerisourceBergen Corp. has a 52 week low of $68.38 and a 52 week high of $105.81. The stock’s 50 day moving average price is $78.31 and its 200-day moving average price is $81.21.
AmerisourceBergen Corp. (NYSE:ABC) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.07. AmerisourceBergen Corp. had a return on equity of 68.70% and a net margin of 0.97%. The company earned $37.60 billion during the quarter, compared to the consensus estimate of $37.97 billion. During the same period last year, the company earned $1.21 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. Analysts expect that AmerisourceBergen Corp. will post $5.74 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Shareholders of record on Monday, November 21st will be given a $0.365 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $1.46 annualized dividend and a yield of 1.84%. This is a boost from AmerisourceBergen Corp.’s previous quarterly dividend of $0.34. AmerisourceBergen Corp.’s payout ratio is currently 23.03%.
In other AmerisourceBergen Corp. news, Chairman Steven H. Collis sold 15,000 shares of the business’s stock in a transaction on Monday, October 17th. The stock was sold at an average price of $79.59, for a total value of $1,193,850.00. Following the sale, the chairman now directly owns 231,252 shares in the company, valued at $18,405,346.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kathy H. Gaddes sold 681 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $88.15, for a total value of $60,030.15. Following the completion of the sale, the insider now owns 1,022 shares in the company, valued at $90,089.30. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Integrated Wealth Management raised 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 during the last quarter. Acrospire Investment Management LLC raised its stake in shares of AmerisourceBergen Corp. by 8.3% in the second quarter. Acrospire Investment Management LLC now owns 1,300 shares of the company’s stock valued at $103,000 after buying an additional 100 shares during the last quarter. IFP Advisors Inc raised its stake in shares of AmerisourceBergen Corp. by 12.0% in the second quarter. IFP Advisors Inc now owns 1,374 shares of the company’s stock valued at $109,000 after buying an additional 147 shares during the last quarter. Apriem Advisors raised its stake in shares of 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 last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of AmerisourceBergen Corp. during the second quarter valued at about $119,000. Hedge funds and other institutional investors own 65.96% 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.
Receive News & Stock Ratings for AmerisourceBergen Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen Corp. and related stocks with our FREE daily email newsletter.