Credit Suisse Group restated their outperform rating on shares of AmerisourceBergen (NYSE:ABC) in a research report report published on Wednesday, February 7th, MarketBeat Ratings reports. The brokerage currently has a $112.00 price objective on the stock, up from their previous price objective of $105.00. The analysts noted that the move was a valuation call.
Several other equities analysts have also commented on ABC. Needham & Company LLC increased their target price on shares of AmerisourceBergen from $86.00 to $88.00 and gave the company a buy rating in a report on Wednesday, November 22nd. Mizuho set a $100.00 target price on shares of AmerisourceBergen and gave the company a hold rating in a report on Wednesday, January 24th. Robert W. Baird reaffirmed a buy rating and set a $96.00 target price on shares of AmerisourceBergen in a report on Monday, November 6th. Zacks Investment Research lowered shares of AmerisourceBergen from a buy rating to a hold rating in a report on Monday, January 15th. Finally, ValuEngine raised shares of 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, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $101.17.
Shares of AmerisourceBergen (NYSE ABC) traded down $1.29 during trading hours on Wednesday, hitting $96.48. 2,057,746 shares of the stock were exchanged, compared to its average volume of 2,124,323. The company has a market cap of $21,480.00, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02. AmerisourceBergen has a 1 year low of $71.90 and a 1 year high of $106.27. The company has a quick ratio of 0.50, a current ratio of 0.95 and a debt-to-equity ratio of 1.61.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $1.55 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.20. The firm had revenue of $40.47 billion for the quarter, compared to analyst estimates of $40.42 billion. AmerisourceBergen had a net margin of 0.66% and a return on equity of 53.65%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 EPS. research analysts forecast that AmerisourceBergen will post 6.58 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 5th. Stockholders of record on Tuesday, February 20th will be given a $0.38 dividend. The ex-dividend date is Friday, February 16th. This represents a $1.52 annualized dividend and a dividend yield of 1.58%. AmerisourceBergen’s dividend payout ratio is 34.47%.
In related news, insider John G. Chou sold 15,937 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $82.42, for a total value of $1,313,527.54. Following the completion of the transaction, the insider now directly owns 67,226 shares in the company, valued at approximately $5,540,766.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dale Danilewitz sold 4,459 shares of the stock in a transaction dated Monday, November 20th. The stock was 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. Over the last quarter, insiders sold 203,077 shares of company stock valued at $18,288,730. 27.30% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in ABC. Delpha Capital Management LLC bought a new stake in AmerisourceBergen during the 4th quarter valued at about $137,000. Vantage Investment Advisors LLC bought a new stake in AmerisourceBergen during the 4th quarter valued at about $156,000. Intl Fcstone Inc. bought a new stake in AmerisourceBergen during the 2nd quarter valued at about $201,000. TRUE Private Wealth Advisors bought a new stake in AmerisourceBergen during the 4th quarter valued at about $203,000. Finally, Zeke Capital Advisors LLC bought a new stake in AmerisourceBergen during the 3rd quarter valued at about $210,000. Institutional investors and hedge funds own 66.84% of the company’s stock.
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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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