Leerink Swann Analysts Give AmerisourceBergen Corporation (Holding Co) (ABC) a $90.00 Price Target

Leerink Swann set a $90.00 price objective on AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) in a report issued on Monday, August 7th. The firm currently has a buy rating on the stock.

A number of other analysts also recently commented on the stock. Vetr upgraded shares of AmerisourceBergen Corporation (Holding Co) from a buy rating to a strong-buy rating and set a $97.44 price target on the stock in a research report on Tuesday, April 18th. Mizuho boosted their price target on shares of AmerisourceBergen Corporation (Holding Co) from $83.00 to $93.00 and gave the stock a neutral rating in a research report on Tuesday, May 30th. BidaskClub upgraded shares of AmerisourceBergen Corporation (Holding Co) from a hold rating to a buy rating in a research report on Saturday, June 17th. Jefferies Group LLC started coverage on shares of AmerisourceBergen Corporation (Holding Co) in a research report on Wednesday, May 17th. They set a hold rating and a $95.00 price target on the stock. Finally, Credit Suisse Group restated a buy rating and set a $95.00 price target on shares of AmerisourceBergen Corporation (Holding Co) in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $93.14.

AmerisourceBergen Corporation (NYSE:ABC) opened at 78.60 on Monday. The firm has a market capitalization of $17.22 billion, a price-to-earnings ratio of 20.48 and a beta of 0.91. AmerisourceBergen Corporation has a 52 week low of $68.38 and a 52 week high of $97.85. The stock’s 50 day moving average is $88.60 and its 200-day moving average is $89.03.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last released its quarterly earnings results on Thursday, August 3rd. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. AmerisourceBergen Corporation (Holding Co) had a net margin of 0.56% and a return on equity of 56.07%. The company had revenue of $38.71 billion for the quarter, compared to the consensus estimate of $39.13 billion. During the same period in the previous year, the firm earned $1.37 EPS. AmerisourceBergen Corporation (Holding Co)’s revenue was up 4.9% on a year-over-year basis. On average, equities research analysts expect that AmerisourceBergen Corporation will post $5.88 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be paid a $0.365 dividend. The ex-dividend date is Thursday, August 17th. This represents a $1.46 annualized dividend and a dividend yield of 1.86%. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio is currently 38.02%.

In other news, Chairman Steven H. Collis sold 15,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $94.76, for a total value of $1,421,400.00. Following the transaction, the chairman now directly owns 253,876 shares of the company’s stock, valued at $24,057,289.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gina Clark sold 1,273 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $80.94, for a total transaction of $103,036.62. Following the completion of the transaction, the insider now directly owns 10,830 shares in the company, valued at $876,580.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,273 shares of company stock worth $4,500,387. 27.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in 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 buying an additional 34 shares in the last quarter. Point72 Asia Hong Kong Ltd bought a new stake in AmerisourceBergen Corporation (Holding Co) during the first quarter valued at approximately $105,000. American Beacon Advisors Inc. bought a new stake in AmerisourceBergen Corporation (Holding Co) during the first quarter valued at approximately $108,000. SRS Capital Advisors Inc. boosted its stake in AmerisourceBergen Corporation (Holding Co) by 0.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,235 shares of the company’s stock valued at $109,000 after buying an additional 4 shares in the last quarter. Finally, Sun Life Financial INC boosted its stake in AmerisourceBergen Corporation (Holding Co) by 15,000.0% in the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock valued at $114,000 after buying an additional 1,200 shares in the last quarter. 68.81% of the stock is currently owned by institutional investors and hedge funds.

About AmerisourceBergen Corporation (Holding Co)

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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