Shares of AmerisourceBergen Corp. (NYSE:ABC) have received an average recommendation of “Buy” from the twenty-one research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $103.34.
Several analysts have recently weighed in on the company. Barclays assumed coverage on AmerisourceBergen in a research report on Thursday, March 8th. They set an “equal weight” rating and a $104.00 target price for the company. Argus lifted their target price on AmerisourceBergen from $93.96 to $115.00 and gave the stock a “buy” rating in a research report on Monday, March 5th. Cowen reiterated a “buy” rating and set a $108.00 target price on shares of AmerisourceBergen in a research report on Tuesday, February 27th. Bank of America assumed coverage on AmerisourceBergen in a research report on Tuesday, February 27th. They set a “buy” rating and a $111.00 target price for the company. Finally, Jefferies Group set a $95.00 target price on AmerisourceBergen and gave the stock a “hold” rating in a research report on Wednesday, February 7th.
AmerisourceBergen (NYSE:ABC) traded down $1.87 during midday trading on Friday, reaching $98.73. 446,337 shares of the company’s stock traded hands, compared to its average volume of 2,072,810. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.95 and a quick ratio of 0.50. The stock has a market capitalization of $22,100.00, a price-to-earnings ratio of 56.40, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. AmerisourceBergen has a 52 week low of $71.90 and a 52 week high of $106.27.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.35 by $0.20. The company had revenue of $40.47 billion during 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%. AmerisourceBergen’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 earnings per share. research analysts anticipate that AmerisourceBergen will post 6.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 5th. Investors of record on Tuesday, February 20th were issued a $0.38 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.52 annualized dividend and a dividend yield of 1.54%. AmerisourceBergen’s payout ratio is currently 86.86%.
In related news, insider Dale Danilewitz sold 21,500 shares of AmerisourceBergen stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $97.30, for a total value of $2,091,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert P. Mauch sold 1,000 shares of AmerisourceBergen stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $97.94, for a total value of $97,940.00. The disclosure for this sale can be found here. Insiders sold 177,609 shares of company stock valued at $16,855,249 over the last 90 days. 27.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB raised its holdings in shares of AmerisourceBergen by 4.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 35,139 shares of the company’s stock valued at $3,226,000 after acquiring an additional 1,637 shares in the last quarter. Handelsbanken Fonder AB bought a new stake in shares of AmerisourceBergen in the fourth quarter valued at about $2,938,000. Envestnet Asset Management Inc. raised its holdings in shares of AmerisourceBergen by 48.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 210,889 shares of the company’s stock valued at $19,363,000 after acquiring an additional 68,412 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in AmerisourceBergen by 2.5% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 88,122 shares of the company’s stock worth $8,091,000 after purchasing an additional 2,139 shares in the last quarter. Finally, Hikari Tsushin Inc. bought a new position in AmerisourceBergen in the fourth quarter worth about $106,000. Hedge funds and other institutional investors own 67.33% 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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