AmerisourceBergen (ABC) Now Covered by Analysts at Deutsche Bank
Several other equities analysts have also issued reports on ABC. Robert W. Baird set a $99.00 price target on AmerisourceBergen and gave the company a buy rating in a research note on Friday. Leerink Swann set a $90.00 price target on AmerisourceBergen and gave the company a buy rating in a research note on Monday, August 7th. Needham & Company LLC boosted their price target on AmerisourceBergen from $86.00 to $88.00 and gave the company a buy rating in a research note on Wednesday, November 22nd. Jefferies Group set a $85.00 price target on AmerisourceBergen and gave the company a hold rating in a research note on Sunday, October 29th. Finally, Royal Bank Of Canada began coverage on AmerisourceBergen in a research note on Tuesday, September 19th. They issued a sector perform rating and a $87.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. AmerisourceBergen has a consensus rating of Buy and a consensus price target of $91.95.
AmerisourceBergen (NYSE ABC) traded up $2.47 during trading on Monday, hitting $87.42. The company had a trading volume of 2,132,500 shares, compared to its average volume of 1,797,251. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.48 and a current ratio of 0.91. The firm has a market capitalization of $18,730.00, a price-to-earnings ratio of 14.42, a P/E/G ratio of 1.47 and a beta of 0.99. AmerisourceBergen has a one year low of $71.90 and a one year high of $97.85.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 20th were issued a dividend of $0.38 per share. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, November 17th. This represents a $1.52 annualized dividend and a dividend yield of 1.74%. AmerisourceBergen’s payout ratio is currently 93.83%.
In other news, CFO Tim G. Guttman sold 11,600 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $79.47, for a total transaction of $921,852.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven H. Collis sold 21,350 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $76.94, for a total value of $1,642,669.00. Following the sale, the chairman now owns 260,226 shares of the company’s stock, valued at approximately $20,021,788.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,807 shares of company stock valued at $12,316,290. Corporate insiders own 27.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in AmerisourceBergen by 2.0% during the second quarter. Vanguard Group Inc. now owns 15,653,245 shares of the company’s stock worth $1,479,701,000 after buying an additional 304,628 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in AmerisourceBergen by 107.3% during the third quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock worth $434,385,000 after buying an additional 2,776,287 shares in the last quarter. Franklin Resources Inc. grew its holdings in AmerisourceBergen by 23.1% during the second quarter. Franklin Resources Inc. now owns 3,902,289 shares of the company’s stock worth $368,884,000 after buying an additional 731,466 shares in the last quarter. Wells Fargo & Company MN grew its holdings in AmerisourceBergen by 11.4% during the third quarter. Wells Fargo & Company MN now owns 3,726,377 shares of the company’s stock worth $308,358,000 after buying an additional 381,936 shares in the last quarter. Finally, FIL Ltd grew its holdings in AmerisourceBergen by 14.4% during the second quarter. FIL Ltd now owns 3,477,157 shares of the company’s stock worth $328,696,000 after buying an additional 437,132 shares in the last quarter. Institutional investors and hedge funds own 67.83% of the company’s stock.
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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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