Several other brokerages also recently commented on ABC. Cowen raised AmerisourceBergen from a market perform rating to an outperform rating in a report on Tuesday, October 10th. Zacks Investment Research raised AmerisourceBergen from a sell rating to a hold rating in a report on Monday, October 16th. Needham & Company LLC set a $93.00 target price on AmerisourceBergen and gave the stock a buy rating in a report on Tuesday, October 24th. Mizuho set a $92.00 target price on AmerisourceBergen and gave the stock a hold rating in a report on Tuesday, October 24th. Finally, ValuEngine raised AmerisourceBergen from a hold rating to a buy rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. AmerisourceBergen presently has a consensus rating of Buy and an average price target of $101.17.
AmerisourceBergen (NYSE:ABC) traded up $0.29 during midday trading on Wednesday, reaching $94.51. The company’s stock had a trading volume of 201,588 shares, compared to its average volume of 1,749,621. The company has a quick ratio of 0.48, a current ratio of 0.95 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $20,700.00, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 1.47 and a beta of 1.02. AmerisourceBergen has a 12 month low of $71.90 and a 12 month high of $106.27.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 5th. Shareholders of record on Tuesday, February 20th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.61%. AmerisourceBergen’s dividend payout ratio is 34.47%.
In other AmerisourceBergen news, insider Dale Danilewitz sold 1,857 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Lazarus Krikorian sold 16,427 shares of the company’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 sale, the senior vice president now owns 23,360 shares of the company’s stock, valued at approximately $1,982,329.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,934 shares of company stock worth $18,152,630. Company insiders own 27.30% of the company’s stock.
Several institutional investors have recently modified their holdings of ABC. Vantage Investment Advisors LLC bought a new stake in shares of AmerisourceBergen during the 4th quarter valued at $156,000. Intl Fcstone Inc. bought a new stake in shares of AmerisourceBergen during the 2nd quarter valued at $201,000. TRUE Private Wealth Advisors bought a new stake in shares of AmerisourceBergen during the 4th quarter valued at $203,000. Zeke Capital Advisors LLC bought a new stake in shares of AmerisourceBergen during the 3rd quarter valued at $210,000. Finally, IBM Retirement Fund bought a new stake in shares of AmerisourceBergen during the 4th quarter valued at $216,000. Institutional investors own 67.57% of the company’s stock.
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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