Shares of AmerisourceBergen Corp. (NYSE:ABC) gapped down before the market opened on Thursday . The stock had previously closed at $96.40, but opened at $89.82. AmerisourceBergen shares last traded at $86.10, with a volume of 5019266 shares traded.
A number of analysts recently commented on the company. ValuEngine lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Thursday, April 12th. Royal Bank of Canada set a $101.00 price target on AmerisourceBergen and gave the stock a “hold” rating in a report on Monday, April 2nd. Barclays dropped their price target on AmerisourceBergen from $104.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 27th. Finally, Argus lifted their price target on AmerisourceBergen from $93.96 to $115.00 and gave the stock a “buy” rating in a report on Monday, March 5th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $103.07.
The company has a market cap of $18.93 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02. The company has a quick ratio of 0.48, a current ratio of 0.94 and a debt-to-equity ratio of 1.38.
AmerisourceBergen (NYSE:ABC) last issued its earnings results on Wednesday, May 2nd. The company reported $1.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.13. The firm had revenue of $41.03 billion for the quarter, compared to analyst estimates of $40.56 billion. AmerisourceBergen had a return on equity of 51.04% and a net margin of 0.57%. The business’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.77 earnings per share. equities analysts forecast that AmerisourceBergen Corp. will post 6.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 4th. Shareholders of record on Monday, May 21st were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, May 18th. This represents a $1.52 annualized dividend and a dividend yield of 1.78%. AmerisourceBergen’s payout ratio is presently 25.85%.
In other news, Chairman Steven H. Collis sold 21,350 shares of AmerisourceBergen stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $84.03, for a total value of $1,794,040.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dale Danilewitz sold 3,121 shares of AmerisourceBergen stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $86.10, for a total value of $268,718.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,865 shares of company stock worth $9,969,043. Corporate insiders own 27.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. River Wealth Advisors LLC grew its position in shares of AmerisourceBergen by 1.6% in the first quarter. River Wealth Advisors LLC now owns 34,764 shares of the company’s stock valued at $2,997,000 after purchasing an additional 561 shares in the last quarter. Meadow Creek Investment Management LLC grew its position in shares of AmerisourceBergen by 2.2% in the fourth quarter. Meadow Creek Investment Management LLC now owns 27,216 shares of the company’s stock valued at $2,499,000 after purchasing an additional 576 shares in the last quarter. State Treasurer State of Michigan grew its position in shares of AmerisourceBergen by 1.3% in the first quarter. State Treasurer State of Michigan now owns 47,884 shares of the company’s stock valued at $4,128,000 after purchasing an additional 600 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its position in shares of AmerisourceBergen by 54.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,698 shares of the company’s stock valued at $146,000 after purchasing an additional 601 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in shares of AmerisourceBergen by 34.9% in the first quarter. Quadrant Capital Group LLC now owns 2,460 shares of the company’s stock valued at $206,000 after purchasing an additional 637 shares in the last quarter. Institutional investors own 66.15% of the company’s stock.
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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