AmerisourceBergen (NYSE:ABC) had its price objective lifted by Needham & Company LLC from $88.00 to $108.00 in a report published on Tuesday, January 23rd, Marketbeat reports. Needham & Company LLC currently has a buy rating on the stock.
Several other equities analysts have also recently commented on ABC. Jefferies Group set a $85.00 target price on shares of AmerisourceBergen and gave the stock a hold rating in a research report on Sunday, October 29th. Robert W. Baird set a $99.00 target price on shares of AmerisourceBergen and gave the stock a buy rating in a research report on Friday, December 1st. Zacks Investment Research cut shares of AmerisourceBergen from a buy rating to a hold rating in a report on Friday, January 5th. Evercore ISI started coverage on shares of AmerisourceBergen in a report on Thursday, January 4th. They issued an outperform rating and a $105.00 price target on the stock. Finally, ValuEngine raised shares of AmerisourceBergen from a hold rating to a buy rating in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AmerisourceBergen currently has an average rating of Buy and an average price target of $101.17.
Shares of AmerisourceBergen (NYSE:ABC) traded down $1.37 during midday trading on Tuesday, reaching $96.40. 3,976,852 shares of the company traded hands, compared to its average volume of 2,150,000. AmerisourceBergen has a twelve month low of $71.90 and a twelve month high of $106.27. The company has a market cap of $21,180.00, a PE ratio of 21.86, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.50 and a current ratio of 0.95.
AmerisourceBergen (NYSE:ABC) last posted its earnings results on Tuesday, February 6th. The company reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.20. AmerisourceBergen had a net margin of 0.66% and a return on equity of 53.65%. The firm had revenue of $40.47 billion for the quarter, compared to analysts’ expectations of $40.42 billion. During the same quarter last year, the firm earned $1.36 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. equities analysts predict that AmerisourceBergen will post 6.58 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 5th. Investors of record on Tuesday, February 20th will be paid a $0.38 dividend. The ex-dividend date is Friday, February 16th. This represents a $1.52 dividend on an annualized basis and a yield of 1.58%. AmerisourceBergen’s dividend payout ratio is 34.47%.
In other news, SVP Lazarus Krikorian sold 16,427 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $84.86, for a total transaction of $1,393,995.22. Following the completion of the transaction, the senior vice president now directly owns 23,360 shares in the company, valued at approximately $1,982,329.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dale Danilewitz sold 4,459 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $78.30, for a total transaction of $349,139.70. The disclosure for this sale can be found here. Insiders sold a total of 205,355 shares of company stock valued at $18,519,104 over the last quarter. 27.30% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC lifted its holdings in shares of AmerisourceBergen by 2.4% during the 2nd quarter. Advisory Services Network LLC now owns 4,367 shares of the company’s stock worth $413,000 after acquiring an additional 101 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of AmerisourceBergen by 3.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 6,250 shares of the company’s stock worth $591,000 after acquiring an additional 180 shares during the last quarter. Linscomb & Williams Inc. lifted its holdings in shares of AmerisourceBergen by 2.5% during the 2nd quarter. Linscomb & Williams Inc. now owns 12,486 shares of the company’s stock worth $1,180,000 after acquiring an additional 299 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of 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 acquiring an additional 375 shares during the last quarter. Finally, Westover Capital Advisors LLC lifted its stake in AmerisourceBergen by 2.8% in the second quarter. Westover Capital Advisors LLC now owns 14,875 shares of the company’s stock worth $1,406,000 after purchasing an additional 408 shares during the last quarter. Hedge funds and other institutional investors own 66.84% of the company’s stock.
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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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