AmerisourceBergen Corporation (Holding Co) (ABC) Rating Lowered to Hold at ValuEngine

ValuEngine cut shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) from a buy rating to a hold rating in a research report released on Friday, September 1st.

Other equities analysts have also recently issued research reports about the company. BidaskClub upgraded AmerisourceBergen Corporation (Holding Co) from a hold rating to a buy rating in a report on Saturday, June 17th. Vetr cut AmerisourceBergen Corporation (Holding Co) from a strong-buy rating to a buy rating and set a $97.44 price target on the stock. in a report on Tuesday, May 9th. Credit Suisse Group restated a buy rating and set a $95.00 target price on shares of AmerisourceBergen Corporation (Holding Co) in a report on Thursday, July 13th. Leerink Swann set a $90.00 target price on AmerisourceBergen Corporation (Holding Co) and gave the stock a buy rating in a report on Monday, August 7th. Finally, TheStreet lowered AmerisourceBergen Corporation (Holding Co) from a b rating to a c+ rating in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $92.34.

AmerisourceBergen Corporation (ABC) opened at 81.60 on Friday. The stock has a 50 day moving average of $81.75 and a 200 day moving average of $87.67. The firm has a market cap of $17.88 billion, a PE ratio of 21.26 and a beta of 0.95. AmerisourceBergen Corporation has a one year low of $68.38 and a one year high of $97.85.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last announced its earnings results on Thursday, August 3rd. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.37 by $0.06. The company had revenue of $38.71 billion for the quarter, compared to analysts’ expectations of $39.13 billion. AmerisourceBergen Corporation (Holding Co) had a return on equity of 56.07% and a net margin of 0.56%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.37 earnings per share. On average, equities analysts forecast that AmerisourceBergen Corporation will post $5.88 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st were paid a dividend of $0.365 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $1.46 annualized dividend and a dividend yield of 1.79%. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio is currently 38.02%.

In related news, Chairman Steven H. Collis sold 15,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $79.92, for a total value of $1,198,800.00. Following the completion of the sale, the chairman now directly owns 253,876 shares in the company, valued at approximately $20,289,769.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peyton R. Howell sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $80.00, for a total value of $1,600,000.00. Following the completion of the sale, the insider now owns 57,135 shares of the company’s stock, valued at $4,570,800. The disclosure for this sale can be found here. Insiders have sold a total of 51,273 shares of company stock valued at $4,323,237 over the last quarter. 27.40% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in AmerisourceBergen Corporation (Holding Co) by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 15,653,245 shares of the company’s stock valued at $1,479,701,000 after acquiring an additional 304,628 shares in the last quarter. BlackRock Inc. raised its holdings in AmerisourceBergen Corporation (Holding Co) by 1,139.3% in the 1st quarter. BlackRock Inc. now owns 12,673,530 shares of the company’s stock valued at $1,121,608,000 after acquiring an additional 11,650,881 shares in the last quarter. Fiduciary Management Inc. WI raised its holdings in AmerisourceBergen Corporation (Holding Co) by 11.2% in the 1st quarter. Fiduciary Management Inc. WI now owns 6,151,621 shares of the company’s stock valued at $544,418,000 after acquiring an additional 617,723 shares in the last quarter. Franklin Resources Inc. raised its holdings in AmerisourceBergen Corporation (Holding Co) by 23.1% in the 2nd quarter. Franklin Resources Inc. now owns 3,902,289 shares of the company’s stock valued at $368,884,000 after acquiring an additional 731,466 shares in the last quarter. Finally, FIL Ltd raised its holdings in AmerisourceBergen Corporation (Holding Co) by 14.4% in the 2nd quarter. FIL Ltd now owns 3,477,157 shares of the company’s stock valued at $328,696,000 after acquiring an additional 437,132 shares in the last quarter. 67.67% of the stock is owned by hedge funds and other institutional investors.

About AmerisourceBergen Corporation (Holding Co)

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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Analyst Recommendations for AmerisourceBergen Corporation (Holding Co) (NYSE:ABC)

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