AmerisourceBergen (ABC) Given a $107.00 Price Target at Cowen
A number of other equities analysts have also recently issued reports on ABC. Robert W. Baird set a $99.00 target price on AmerisourceBergen and gave the stock a buy rating in a report on Friday, December 1st. Jefferies Group set a $85.00 target price on AmerisourceBergen and gave the stock a hold rating in a report on Sunday, October 29th. Needham & Company LLC upped their target price on AmerisourceBergen from $86.00 to $88.00 and gave the stock a buy rating in a report on Wednesday, November 22nd. Royal Bank of Canada began coverage on AmerisourceBergen in a report on Tuesday, September 19th. They issued a sector perform rating and a $87.00 target price for the company. Finally, Deutsche Bank began coverage on AmerisourceBergen in a report on Monday, December 4th. They issued a buy rating and a $97.00 target price for the company. 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 issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $93.20.
AmerisourceBergen (ABC) opened at $87.82 on Tuesday. AmerisourceBergen has a fifty-two week low of $71.90 and a fifty-two week high of $97.85. 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 company has a market capitalization of $18,922.97, a price-to-earnings ratio of 14.73, a PEG ratio of 1.50 and a beta of 1.00.
The business also recently declared a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 20th were paid a $0.38 dividend. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, November 17th. This represents a $1.52 annualized dividend and a dividend yield of 1.73%. AmerisourceBergen’s dividend payout ratio is presently 82.16%.
In other news, insider Dale Danilewitz sold 2,012 shares of the stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $85.00, for a total value of $171,020.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard W. Gochnauer sold 2,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $85.00, for a total value of $170,000.00. Following the completion of the sale, the director now directly owns 12,947 shares of the company’s stock, valued at approximately $1,100,495. The disclosure for this sale can be found here. In the last three months, insiders sold 168,407 shares of company stock valued at $13,569,358. Insiders own 27.40% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Parallel Advisors LLC boosted its holdings in AmerisourceBergen by 3.2% in the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after acquiring an additional 34 shares in the last quarter. Sun Life Financial INC raised its stake in shares of AmerisourceBergen by 15,000.0% in the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock worth $114,000 after purchasing an additional 1,200 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of AmerisourceBergen by 29.0% in the second quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock worth $157,000 after purchasing an additional 375 shares during the last quarter. Intl Fcstone Inc. purchased a new stake in shares of AmerisourceBergen during the second quarter valued at approximately $201,000. Finally, Pinnacle Associates Ltd. purchased a new stake in shares of AmerisourceBergen during the second quarter valued at approximately $203,000. 67.94% of the stock is owned by institutional investors.
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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