Shares of AmerisourceBergen Corp. (NYSE:ABC) have received a consensus recommendation of “Hold” from the twenty ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $103.07.
Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of AmerisourceBergen from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Barclays lowered their price target on shares of AmerisourceBergen from $104.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 27th. ValuEngine raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. Argus upped their price target on shares of AmerisourceBergen from $93.96 to $115.00 and gave the company a “buy” rating in a report on Monday, March 5th. Finally, Bank of America assumed coverage on shares of AmerisourceBergen in a report on Tuesday, February 27th. They issued a “buy” rating and a $111.00 price target on the stock.
NYSE:ABC traded up $0.29 during mid-day trading on Tuesday, hitting $93.50. The company’s stock had a trading volume of 1,031,188 shares, compared to its average volume of 1,203,183. AmerisourceBergen has a 1 year low of $71.90 and a 1 year high of $106.27. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.48 and a current ratio of 0.94. The firm has a market cap of $20.49 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 1.42 and a beta of 1.02.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Wednesday, May 2nd. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.83 by $0.13. AmerisourceBergen had a net margin of 0.57% and a return on equity of 51.04%. The company had revenue of $41.03 billion for the quarter, compared to analyst estimates of $40.56 billion. During the same period in the prior year, the company earned $1.77 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. equities research analysts predict that AmerisourceBergen will post 6.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 4th. Stockholders of record on Monday, May 21st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Friday, May 18th. AmerisourceBergen’s payout ratio is currently 25.85%.
In other news, insider Dale Danilewitz sold 3,121 shares of the stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $86.10, for a total transaction of $268,718.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kathy H. Gaddes sold 2,652 shares of the stock in a transaction dated Wednesday, June 20th. The stock was sold at an average price of $92.03, for a total transaction of $244,063.56. Following the sale, the insider now directly owns 3,891 shares in the company, valued at $358,088.73. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,865 shares of company stock worth $9,969,043. Corporate insiders own 27.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. River Wealth Advisors LLC raised its position in shares of AmerisourceBergen by 1.6% during the 1st quarter. River Wealth Advisors LLC now owns 34,764 shares of the company’s stock worth $2,997,000 after purchasing an additional 561 shares during the last quarter. Meadow Creek Investment Management LLC raised its holdings in AmerisourceBergen by 2.2% in the 4th quarter. Meadow Creek Investment Management LLC now owns 27,216 shares of the company’s stock valued at $2,499,000 after acquiring an additional 576 shares during the last quarter. State Treasurer State of Michigan raised its holdings in AmerisourceBergen by 1.3% in the 1st quarter. State Treasurer State of Michigan now owns 47,884 shares of the company’s stock valued at $4,128,000 after acquiring an additional 600 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in AmerisourceBergen by 54.8% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,698 shares of the company’s stock valued at $146,000 after acquiring an additional 601 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in AmerisourceBergen by 34.9% in the 1st quarter. Quadrant Capital Group LLC now owns 2,460 shares of the company’s stock valued at $206,000 after acquiring an additional 637 shares during the last quarter. 66.14% of the stock is currently owned by institutional investors and hedge funds.
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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