Cowen Analysts Give AmerisourceBergen (ABC) a $107.00 Price Target

Cowen set a $107.00 price target on AmerisourceBergen (NYSE:ABC) in a report issued on Tuesday. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently issued reports on the company. Deutsche Bank assumed coverage on AmerisourceBergen in a research note on Monday, December 4th. They issued a buy rating and a $97.00 price objective on the stock. Robert W. Baird set a $99.00 price objective on AmerisourceBergen and gave the stock a buy rating in a research note on Friday, December 1st. Needham & Company LLC lifted their price objective on AmerisourceBergen from $86.00 to $88.00 and gave the stock a buy rating in a research note on Wednesday, November 22nd. ValuEngine raised AmerisourceBergen from a hold rating to a buy rating in a research note on Tuesday, October 31st. Finally, Jefferies Group set a $85.00 price objective on AmerisourceBergen and gave the stock a hold rating in a research note on Sunday, October 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $93.20.

AmerisourceBergen (ABC) opened at $93.17 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.91 and a debt-to-equity ratio of 1.83. AmerisourceBergen has a twelve month low of $71.90 and a twelve month high of $97.85. The company has a market capitalization of $19,295.90, a P/E ratio of 15.02, a P/E/G ratio of 1.53 and a beta of 1.00.

AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.01. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The company had revenue of $39.12 billion for the quarter, compared to analysts’ expectations of $40.10 billion. During the same period in the previous year, the firm earned $1.30 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. analysts anticipate that AmerisourceBergen will post 6.07 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 20th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 17th. This represents a $1.52 annualized dividend and a dividend yield of 1.63%. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.37. AmerisourceBergen’s payout ratio is currently 82.16%.

In other news, insider Dale Danilewitz sold 1,857 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $74.69, for a total transaction of $138,699.33. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert P. Mauch sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $90.00, for a total value of $270,000.00. Following the transaction, the executive vice president now directly owns 14,531 shares in the company, valued at approximately $1,307,790. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,207 shares of company stock worth $15,612,018. Corporate insiders own 27.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in ABC. JPMorgan Chase & Co. grew its position in AmerisourceBergen by 107.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock valued at $434,385,000 after acquiring an additional 2,776,287 shares during the last quarter. Janus Henderson Group PLC grew its position in AmerisourceBergen by 660.8% in the 2nd quarter. Janus Henderson Group PLC now owns 2,574,746 shares of the company’s stock valued at $243,392,000 after acquiring an additional 2,236,319 shares during the last quarter. Harding Loevner LP grew its position in AmerisourceBergen by 89.6% in the 3rd quarter. Harding Loevner LP now owns 3,166,794 shares of the company’s stock valued at $134,939,000 after acquiring an additional 1,496,761 shares during the last quarter. Wells Fargo & Company MN grew its position in AmerisourceBergen by 42.9% in the 2nd quarter. Wells Fargo & Company MN now owns 3,344,441 shares of the company’s stock valued at $316,149,000 after acquiring an additional 1,003,327 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in AmerisourceBergen in the 3rd quarter valued at $75,681,000. 67.94% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for AmerisourceBergen (NYSE:ABC)

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