AmerisourceBergen (ABC) Upgraded at TheStreet

AmerisourceBergen (NYSE:ABC) was upgraded by investment analysts at TheStreet from a “c” rating to a “b” rating in a research report issued to clients and investors on Tuesday.

A number of other analysts have also recently commented on the company. Mizuho set a $92.00 price target on AmerisourceBergen and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Zacks Investment Research upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Cowen upgraded shares of AmerisourceBergen from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 10th. Deutsche Bank started coverage on shares of AmerisourceBergen in a report on Monday, December 4th. They issued a “buy” rating and a $97.00 price objective for the company. Finally, Goldman Sachs Group upgraded shares of AmerisourceBergen from a “neutral” rating to a “buy” rating in a report on Friday, December 15th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. AmerisourceBergen currently has a consensus rating of “Buy” and an average target price of $101.17.

Shares of AmerisourceBergen (NYSE ABC) traded down $0.59 on Tuesday, hitting $93.63. The stock had a trading volume of 237,613 shares, compared to its average volume of 1,749,621. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.48 and a current ratio of 0.95. AmerisourceBergen has a 12-month low of $71.90 and a 12-month high of $106.27. The company has a market cap of $20,700.00, a PE ratio of 21.23, a P/E/G ratio of 1.47 and a beta of 1.02.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.20. AmerisourceBergen had a return on equity of 53.65% and a net margin of 0.66%. The firm had revenue of $40.47 billion for the quarter, compared to analysts’ expectations of $40.42 billion. During the same period in the previous year, the firm posted $1.36 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. sell-side analysts forecast that AmerisourceBergen will post 6.56 EPS for the current fiscal year.

In other AmerisourceBergen news, SVP Lazarus Krikorian sold 16,427 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $84.86, for a total transaction of $1,393,995.22. Following the completion of the sale, the senior vice president now directly owns 23,360 shares in the company, valued at approximately $1,982,329.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Dale Danilewitz sold 1,857 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $74.69, for a total transaction of $138,699.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,934 shares of company stock valued at $18,152,630. Company insiders own 27.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Thrivent Financial For Lutherans grew its position in shares of AmerisourceBergen by 3.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 6,250 shares of the company’s stock valued at $591,000 after acquiring an additional 180 shares during the period. Numeric Investors LLC boosted its holdings in AmerisourceBergen by 45.2% in the 2nd quarter. Numeric Investors LLC now owns 4,500 shares of the company’s stock worth $425,000 after buying an additional 1,400 shares during the period. QS Investors LLC boosted its holdings in AmerisourceBergen by 9.5% in the 2nd quarter. QS Investors LLC now owns 12,610 shares of the company’s stock worth $1,192,000 after buying an additional 1,094 shares during the period. Macquarie Group Ltd. boosted its holdings in AmerisourceBergen by 157.2% in the 2nd quarter. Macquarie Group Ltd. now owns 20,320 shares of the company’s stock worth $1,921,000 after buying an additional 12,420 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of AmerisourceBergen by 48.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 313,320 shares of the company’s stock valued at $29,618,000 after buying an additional 101,751 shares in the last quarter. Institutional investors and hedge funds own 67.57% of the company’s stock.

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About AmerisourceBergen

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 (NYSE:ABC)

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