Leerink Swann set a $105.00 target price on AmerisourceBergen (NYSE:ABC) in a research note published on Tuesday, January 2nd. The brokerage currently has a buy rating on the stock. Leerink Swann also issued estimates for AmerisourceBergen’s Q1 2018 earnings at $1.34 EPS, Q2 2018 earnings at $1.75 EPS, Q3 2018 earnings at $1.48 EPS, Q4 2018 earnings at $1.57 EPS, FY2018 earnings at $6.15 EPS, Q1 2019 earnings at $1.45 EPS, Q2 2019 earnings at $1.97 EPS, Q3 2019 earnings at $1.61 EPS, Q4 2019 earnings at $1.68 EPS, FY2019 earnings at $6.70 EPS and FY2020 earnings at $7.25 EPS.
A number of other analysts also recently issued reports on ABC. 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. Needham & Company LLC boosted their target price on AmerisourceBergen from $86.00 to $88.00 and gave the company a buy rating in a research report on Wednesday, November 22nd. Royal Bank of Canada assumed coverage on AmerisourceBergen in a research report on Tuesday, September 19th. They issued a sector perform rating and a $87.00 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. Finally, ValuEngine raised AmerisourceBergen from a hold rating to a buy rating in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $95.96.
AmerisourceBergen (NYSE:ABC) opened at $98.14 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 $98.14. The company has a market capitalization of $21,400.00, a P/E ratio of 60.58, a P/E/G ratio of 1.63 and a beta of 0.99.
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 6.14 earnings per share for the current year.
In other AmerisourceBergen news, Chairman Steven H. Collis sold 21,350 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $76.94, for a total transaction of $1,642,669.00. Following the transaction, the chairman now owns 260,226 shares in the company, valued at $20,021,788.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $74.28, for a total value of $861,648.00. Following the completion of the transaction, the chief financial officer now owns 40,326 shares in the company, valued at approximately $2,995,415.28. The disclosure for this sale can be found here. Insiders sold 203,823 shares of company stock worth $17,145,148 over the last three months. Corporate insiders own 27.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of ABC. Sun Life Financial INC grew its stake in AmerisourceBergen by 15,000.0% during the 2nd 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 in the last quarter. D.A. Davidson & CO. grew its stake in AmerisourceBergen by 29.0% during the 2nd quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock worth $157,000 after purchasing an additional 375 shares in the last quarter. Intl Fcstone Inc. acquired a new position in AmerisourceBergen during the 2nd quarter worth $201,000. Pinnacle Associates Ltd. purchased a new stake in AmerisourceBergen during the 2nd quarter worth about $203,000. Finally, Coastline Trust Co purchased a new stake in AmerisourceBergen during the 2nd quarter worth about $203,000. 67.83% of the stock is 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.
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