AmerisourceBergen Corporation (Holding Co) (ABC) Given New $88.00 Price Target at Needham & Company LLC

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) had its price objective raised by Needham & Company LLC from $86.00 to $88.00 in a research report released on Wednesday morning. The brokerage currently has a buy rating on the stock.

Several other analysts have also commented on ABC. UBS Group AG dropped their target price on AmerisourceBergen Corporation (Holding Co) from $94.00 to $87.00 and set a neutral rating on the stock in a report on Friday, August 4th. Zacks Investment Research raised AmerisourceBergen Corporation (Holding Co) from a sell rating to a hold rating in a report on Friday, August 4th. TheStreet lowered AmerisourceBergen Corporation (Holding Co) from a b rating to a c+ rating in a report on Thursday, August 3rd. BidaskClub lowered AmerisourceBergen Corporation (Holding Co) from a hold rating to a sell rating in a report on Saturday, August 5th. Finally, 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $91.14.

Shares of AmerisourceBergen Corporation (NYSE ABC) traded up $1.94 during mid-day trading on Wednesday, hitting $81.40. The stock had a trading volume of 1,927,000 shares, compared to its average volume of 1,795,651. The company has a quick ratio of 0.48, a current ratio of 0.91 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $17,410.56, a price-to-earnings ratio of 13.49, a PEG ratio of 1.38 and a beta of 0.95. AmerisourceBergen Corporation has a fifty-two week low of $71.90 and a fifty-two week high of $97.85.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last posted its earnings results on Thursday, November 2nd. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.32 by $0.01. The firm had revenue of $39.12 billion for the quarter, compared to analyst estimates of $40.10 billion. AmerisourceBergen Corporation (Holding Co) had a return on equity of 55.99% and a net margin of 0.27%. AmerisourceBergen Corporation (Holding Co)’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $1.30 earnings per share. equities analysts expect that AmerisourceBergen Corporation will post 6.04 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 20th will be issued a $0.38 dividend. This is a positive change from AmerisourceBergen Corporation (Holding Co)’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, November 17th. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio (DPR) is presently 82.16%.

In other AmerisourceBergen Corporation (Holding Co) news, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $74.28, for a total value of $861,648.00. Following the sale, the chief financial officer now directly owns 40,326 shares of the company’s stock, valued at $2,995,415.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dale Danilewitz sold 1,857 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $74.69, for a total value of $138,699.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,670 shares of company stock worth $8,067,058. 27.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in shares of AmerisourceBergen Corporation (Holding Co) by 3.2% in the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock valued at $104,000 after acquiring an additional 34 shares in the last quarter. Savant Capital LLC lifted its position in shares of AmerisourceBergen Corporation (Holding Co) by 0.8% in the second quarter. Savant Capital LLC now owns 4,846 shares of the company’s stock valued at $458,000 after acquiring an additional 40 shares in the last quarter. Stephens Inc. AR lifted its position in shares of AmerisourceBergen Corporation (Holding Co) by 1.5% in the second quarter. Stephens Inc. AR now owns 5,141 shares of the company’s stock valued at $486,000 after acquiring an additional 77 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of AmerisourceBergen Corporation (Holding Co) by 0.7% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,329 shares of the company’s stock valued at $1,165,000 after acquiring an additional 80 shares in the last quarter. Finally, Cadence Bank NA lifted its position in shares of AmerisourceBergen Corporation (Holding Co) by 3.6% in the second quarter. Cadence Bank NA now owns 2,555 shares of the company’s stock valued at $241,000 after acquiring an additional 88 shares in the last quarter. Institutional investors and hedge funds own 68.50% of the company’s stock.

AmerisourceBergen Corporation (Holding Co) 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.

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

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