AmerisourceBergen (NYSE:ABC) fell 0.1% during trading on Friday . The stock traded as low as $84.66 and last traded at $84.95. 771,288 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 2,075,161 shares. The stock had previously closed at $85.00.
Several brokerages recently commented on ABC. Mizuho set a $100.00 price target on AmerisourceBergen and gave the company a “hold” rating in a research note on Wednesday, January 24th. Needham & Company LLC boosted their price target on AmerisourceBergen from $88.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Zacks Investment Research raised AmerisourceBergen from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a research note on Thursday, January 18th. Bank of America began coverage on AmerisourceBergen in a research note on Tuesday, February 27th. They issued a “buy” rating and a $111.00 price target for the company. Finally, Cowen reissued a “buy” rating and issued a $108.00 price target on shares of AmerisourceBergen in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $103.34.
The company has a market capitalization of $19,660.38, a PE ratio of 18.38, a PEG ratio of 1.34 and a beta of 1.03. 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 announced its earnings results on Tuesday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.20. The firm had revenue of $40.47 billion during the quarter, compared to analysts’ expectations of $40.42 billion. AmerisourceBergen had a return on equity of 53.65% and a net margin of 0.66%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.36 earnings per share. sell-side analysts anticipate that AmerisourceBergen will post 6.58 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 5th. Stockholders of record on Tuesday, February 20th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.52 annualized dividend and a dividend yield of 1.81%. AmerisourceBergen’s dividend payout ratio is 32.76%.
In other news, insider Robert P. Mauch sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $97.94, for a total value of $97,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dale Danilewitz sold 21,500 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $97.30, for a total value of $2,091,950.00. The disclosure for this sale can be found here. Insiders sold 156,809 shares of company stock valued at $14,988,589 over the last three months. 27.30% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of ABC. JPMorgan Chase & Co. boosted its position in shares of AmerisourceBergen by 107.3% in the third 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 period. Vulcan Value Partners LLC raised its stake in shares of AmerisourceBergen by 29.4% in the fourth quarter. Vulcan Value Partners LLC now owns 7,530,523 shares of the company’s stock valued at $691,452,000 after purchasing an additional 1,710,816 shares in the last quarter. Harding Loevner LP raised its stake in shares of AmerisourceBergen by 89.6% in the third quarter. Harding Loevner LP now owns 3,166,794 shares of the company’s stock valued at $134,939,000 after purchasing an additional 1,496,761 shares in the last quarter. Millennium Management LLC raised its stake in shares of AmerisourceBergen by 429.2% in the fourth quarter. Millennium Management LLC now owns 1,507,690 shares of the company’s stock valued at $138,436,000 after purchasing an additional 1,222,806 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of AmerisourceBergen in the third quarter valued at $75,681,000. 67.30% of the stock is owned by institutional investors.
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AmerisourceBergen Company Profile
AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.
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