AmerisourceBergen (ABC) Downgraded by TheStreet to “C+”
Several other research firms have also issued reports on ABC. Zacks Investment Research lowered shares of AmerisourceBergen from a hold rating to a sell rating in a research report on Wednesday, November 28th. Royal Bank of Canada dropped their price target on shares of AmerisourceBergen from $90.00 to $87.00 and set a hold rating on the stock in a research report on Friday, November 30th. Morgan Stanley upped their price target on shares of AmerisourceBergen from $88.00 to $91.00 and gave the stock an equal weight rating in a research report on Monday, December 3rd. ValuEngine lowered shares of AmerisourceBergen from a hold rating to a sell rating in a research report on Monday, February 25th. Finally, UBS Group initiated coverage on shares of AmerisourceBergen in a research report on Thursday, January 17th. They set a buy rating and a $89.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company has an average rating of Hold and an average target price of $88.33.
Shares of ABC stock opened at $79.27 on Tuesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.94. The firm has a market capitalization of $16.73 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.50 and a beta of 1.13. AmerisourceBergen has a 12 month low of $69.36 and a 12 month high of $95.00.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Tuesday, February 19th were issued a $0.40 dividend. The ex-dividend date was Friday, February 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.02%. AmerisourceBergen’s dividend payout ratio is currently 24.65%.
In other AmerisourceBergen news, CEO Steven H. Collis sold 21,350 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $73.96, for a total value of $1,579,046.00. Following the transaction, the chief executive officer now directly owns 155,929 shares in the company, valued at $11,532,508.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John G. Chou sold 6,974 shares of the company’s stock in a transaction on Tuesday, January 15th. The shares were sold at an average price of $76.99, for a total transaction of $536,928.26. Following the completion of the transaction, the insider now owns 58,759 shares in the company, valued at $4,523,855.41. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,862 shares of company stock worth $8,934,873. Corporate insiders own 27.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ABC. Oregon Public Employees Retirement Fund grew its stake in shares of AmerisourceBergen by 6,614.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,448,589 shares of the company’s stock valued at $46,000 after acquiring an additional 3,397,228 shares in the last quarter. FMR LLC grew its stake in shares of AmerisourceBergen by 51.7% in the fourth quarter. FMR LLC now owns 7,263,899 shares of the company’s stock valued at $540,434,000 after acquiring an additional 2,474,112 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of AmerisourceBergen by 396.8% in the fourth quarter. Victory Capital Management Inc. now owns 2,406,821 shares of the company’s stock valued at $179,068,000 after acquiring an additional 1,922,395 shares in the last quarter. Norges Bank acquired a new position in shares of AmerisourceBergen in the fourth quarter valued at about $103,863,000. Finally, Baupost Group LLC MA grew its stake in shares of AmerisourceBergen by 46.8% in the third quarter. Baupost Group LLC MA now owns 2,751,056 shares of the company’s stock valued at $253,702,000 after acquiring an additional 877,491 shares in the last quarter. Institutional investors and hedge funds own 65.68% of the company’s stock.
AmerisourceBergen Company Profile
AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.
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