Goldman Sachs Group upgraded shares of AmerisourceBergen (NYSE:ABC) from a neutral rating to a buy rating in a research note published on Friday morning, Marketbeat reports.
A number of other research analysts have also recently weighed in on the company. Cowen set a $107.00 price objective on AmerisourceBergen and gave the company a buy rating in a research report on Tuesday, December 12th. Deutsche Bank began coverage on AmerisourceBergen in a research report on Monday, December 4th. They set 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 company a buy rating in a research report on Friday, December 1st. Needham & Company LLC lifted their price objective on AmerisourceBergen from $86.00 to $88.00 and gave the company a buy rating in a research report on Wednesday, November 22nd. Finally, ValuEngine raised AmerisourceBergen from a hold rating to a buy rating in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $93.20.
AmerisourceBergen (NYSE:ABC) opened at $93.17 on Friday. AmerisourceBergen has a 12-month low of $71.90 and a 12-month high of $97.85. 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 $20,318.70, a PE ratio of 15.82, a PEG ratio of 1.61 and a beta of 1.00.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, beating 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 firm 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 business’s quarterly revenue was up 4.2% on a year-over-year basis. sell-side analysts predict that AmerisourceBergen will post 6.07 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 4th. Investors of record on Monday, November 20th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Friday, November 17th. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.37. AmerisourceBergen’s dividend payout ratio (DPR) is 82.16%.
In other AmerisourceBergen news, insider Peyton R. Howell sold 3,243 shares of AmerisourceBergen stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $80.23, for a total value of $260,185.89. Following the sale, the insider now owns 37,135 shares of the company’s stock, valued at approximately $2,979,341.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Tim G. Guttman sold 11,600 shares of AmerisourceBergen stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $79.47, for a total value of $921,852.00. The disclosure for this sale can be found here. Insiders have sold a total of 191,207 shares of company stock worth $15,612,018 in the last three months. 27.40% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake in AmerisourceBergen by 3.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after acquiring an additional 34 shares during the last quarter. Sun Life Financial INC increased its stake in AmerisourceBergen by 15,000.0% in the 2nd quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock worth $114,000 after acquiring an additional 1,200 shares during the last quarter. D.A. Davidson & CO. increased its stake in AmerisourceBergen by 29.0% in the 2nd quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock worth $157,000 after acquiring an additional 375 shares during the last quarter. Intl Fcstone Inc. bought a new stake in AmerisourceBergen in the 2nd quarter worth approximately $201,000. Finally, Pinnacle Associates Ltd. bought a new stake in AmerisourceBergen in the 2nd quarter worth approximately $203,000. 67.94% of the stock is currently owned by institutional investors and hedge funds.
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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.
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