AmerisourceBergen (ABC) Lowered to Sell at ValuEngine

ValuEngine downgraded shares of AmerisourceBergen (NYSE:ABC) from a hold rating to a sell rating in a report issued on Tuesday morning.

Several other equities research analysts have also recently weighed in on ABC. Royal Bank of Canada set a $101.00 price target on shares of AmerisourceBergen and gave the stock a hold rating in a research report on Monday, April 2nd. Cowen reaffirmed a buy rating and issued a $108.00 price target on shares of AmerisourceBergen in a research report on Tuesday, February 27th. Barclays lowered their price target on shares of AmerisourceBergen from $104.00 to $95.00 and set an equal weight rating for the company in a research report on Tuesday, March 27th. Argus upped their price target on shares of AmerisourceBergen from $93.96 to $115.00 and gave the stock a buy rating in a research report on Monday, March 5th. Finally, Bank of America assumed coverage on shares of AmerisourceBergen in a research report on Tuesday, February 27th. They issued a buy rating and a $111.00 price target for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $103.07.

Shares of ABC opened at $90.39 on Tuesday. AmerisourceBergen has a fifty-two week low of $71.90 and a fifty-two week high of $106.27. The company has a market capitalization of $20.55 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.42 and a beta of 1.02. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.94 and a quick ratio of 0.48.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Wednesday, May 2nd. The company reported $1.96 earnings per share for the quarter, topping 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 firm had revenue of $41.03 billion during the quarter, compared to analysts’ expectations of $40.56 billion. During the same quarter in the prior year, the company earned $1.77 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. equities analysts expect that AmerisourceBergen will post 6.46 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 4th. Investors of record on Monday, May 21st were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, May 18th. This represents a $1.52 dividend on an annualized basis and a yield of 1.68%. AmerisourceBergen’s payout ratio is 25.85%.

In other AmerisourceBergen news, EVP Robert P. Mauch sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $93.28, for a total transaction of $93,280.00. Following the transaction, the executive vice president now owns 13,123 shares in the company, valued at approximately $1,224,113.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kathy H. Gaddes sold 2,652 shares of the company’s stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $92.03, for a total transaction of $244,063.56. Following the transaction, the insider now owns 3,891 shares in the company, valued at approximately $358,088.73. The disclosure for this sale can be found here. Insiders have sold 116,865 shares of company stock valued at $9,969,043 in the last three months. 27.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of ABC. Hikari Tsushin Inc. acquired a new position in AmerisourceBergen during the 4th quarter valued at approximately $106,000. Delpha Capital Management LLC acquired a new position in AmerisourceBergen during the 4th quarter valued at approximately $137,000. Bronfman E.L. Rothschild L.P. increased its stake in AmerisourceBergen by 54.8% during the 1st 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. Synovus Financial Corp acquired a new position in AmerisourceBergen during the 1st quarter valued at approximately $202,000. Finally, Quadrant Capital Group LLC increased its stake in AmerisourceBergen by 34.9% during the 1st 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 and hedge funds own 66.15% of the company’s stock.

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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Analyst Recommendations for AmerisourceBergen (NYSE:ABC)

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