Zacks Investment Research cut shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) from a hold rating to a sell rating in a research note released on Tuesday.

According to Zacks, “AmerisourceBergen had an impressive run on the bourse over the last one month, trading above the broader industry in terms of price performance. The company faces headwinds due to the slowdown in hepatitis C revenues and conversion of branded drugs to the lower price generics. Furthermore, a temporary slowdown in PharMEDium's growth is expected to mar the company’s bottom line. AmerisourceBergen expects a moderation in growth in fiscal 2017 due to a challenging healthcare landscape, as both healthcare providers and pharmaceutical manufacturers are facing increasing cost pressures. The company operates in a highly competitive pharmaceutical distribution and related health care space. Furthermore, the generic industry is facing consolidation of customers and manufacturers, globalization and increasing quality and regulatory challenges. Added to this, AmerisourceBergen’s expensive valuation multiples pose risk owing to Trump’s unclear policy towards brand pricing.”

Other equities research analysts have also issued reports about the stock. ValuEngine lowered shares of AmerisourceBergen Corporation (Holding Co) from a buy rating to a hold rating in a report on Friday, September 1st. UBS AG lowered their target price on shares of AmerisourceBergen Corporation (Holding Co) from $94.00 to $87.00 and set a neutral rating for the company in a research note on Friday, August 4th. Credit Suisse Group reiterated a buy rating and set a $95.00 target price on shares of AmerisourceBergen Corporation (Holding Co) in a research note on Thursday, July 13th. BidaskClub raised AmerisourceBergen Corporation (Holding Co) from a hold rating to a buy rating in a report on Saturday, June 17th. Finally, Jefferies Group LLC set a $95.00 target price on AmerisourceBergen Corporation (Holding Co) and gave the company a hold rating in a report on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $91.86.

AmerisourceBergen Corporation (NYSE:ABC) opened at 83.5166 on Tuesday. The company has a market cap of $18.30 billion, a PE ratio of 21.7604 and a beta of 0.96. AmerisourceBergen Corporation has a 52 week low of $68.38 and a 52 week high of $97.85. The company has a 50-day moving average price of $80.66 and a 200 day moving average price of $86.92.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.06. AmerisourceBergen Corporation (Holding Co) had a return on equity of 56.07% and a net margin of 0.56%. The business had revenue of $38.71 billion during the quarter, compared to analysts’ expectations of $39.13 billion. During the same quarter last year, the business posted $1.37 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that AmerisourceBergen Corporation will post $5.88 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were issued a dividend of $0.365 per share. The ex-dividend date was Thursday, August 17th. This represents a $1.46 annualized dividend and a dividend yield of 1.76%. AmerisourceBergen Corporation (Holding Co)’s payout ratio is 38.02%.

In other AmerisourceBergen Corporation (Holding Co) news, insider Gina Clark sold 1,273 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $80.94, for a total transaction of $103,036.62. Following the sale, the insider now directly owns 10,830 shares in the company, valued at approximately $876,580.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peyton R. Howell sold 20,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $80.00, for a total value of $1,600,000.00. Following the sale, the insider now owns 57,135 shares in the company, valued at $4,570,800. The disclosure for this sale can be found here. Insiders sold 51,116 shares of company stock valued at $4,083,875 in the last ninety days. Company insiders own 27.40% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Parallel Advisors LLC lifted its stake in AmerisourceBergen Corporation (Holding Co) by 3.2% during the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after purchasing an additional 34 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new stake in AmerisourceBergen Corporation (Holding Co) in the first quarter valued at $105,000. American Beacon Advisors Inc. bought a new stake in AmerisourceBergen Corporation (Holding Co) in the first quarter valued at $108,000. SRS Capital Advisors Inc. lifted its stake in AmerisourceBergen Corporation (Holding Co) 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 last quarter. Finally, Sun Life Financial INC boosted its holdings in shares of AmerisourceBergen Corporation (Holding Co) by 15,000.0% during the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock valued at $114,000 after acquiring an additional 1,200 shares during the period. Institutional investors and hedge funds own 67.64% of the company’s stock.

About AmerisourceBergen Corporation (Holding Co)

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.

Analyst Recommendations for AmerisourceBergen Corporation (Holding Co) (NYSE:ABC)

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