AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) Downgraded to “Hold” at BidaskClub

BidaskClub cut shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) from a buy rating to a hold rating in a research report sent to investors on Monday, July 24th.

Several other brokerages have also recently commented on ABC. Vetr upgraded shares of AmerisourceBergen Corporation (Holding Co) from a buy rating to a strong-buy rating and set a $97.44 price objective for the company in a research note on Tuesday, April 18th. Jefferies Group LLC reiterated a hold rating and issued a $95.00 target price on shares of AmerisourceBergen Corporation (Holding Co) in a research note on Wednesday, June 21st. Credit Suisse Group reiterated a buy rating and issued a $95.00 target price on shares of AmerisourceBergen Corporation (Holding Co) in a research note on Thursday, July 13th. Bank of America Corporation cut shares of AmerisourceBergen Corporation (Holding Co) from a buy rating to a neutral rating and decreased their target price for the company from $95.76 to $94.00 in a research note on Friday, June 30th. Finally, Mizuho boosted their target price on shares of AmerisourceBergen Corporation (Holding Co) from $83.00 to $93.00 and gave the company a neutral rating in a research note on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $93.14.

Shares of AmerisourceBergen Corporation (ABC) opened at 78.60 on Monday. AmerisourceBergen Corporation has a 1-year low of $68.38 and a 1-year high of $97.85. The firm’s 50-day moving average price is $88.60 and its 200 day moving average price is $89.03. The company has a market capitalization of $17.22 billion, a PE ratio of 20.48 and a beta of 0.91.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $1.43 EPS for the quarter, beating the consensus estimate 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 business had revenue of $38.71 billion during the quarter, compared to analysts’ expectations of $39.13 billion. During the same period in the previous year, the business posted $1.37 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts predict that AmerisourceBergen Corporation will post $5.88 EPS for the current fiscal year.

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

In other AmerisourceBergen Corporation (Holding Co) news, insider Gina Clark sold 1,273 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peyton R. Howell sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $80.00, for a total transaction of $1,600,000.00. Following the sale, the insider now directly owns 57,135 shares of the company’s stock, valued at approximately $4,570,800. The disclosure for this sale can be found here. Insiders have sold 51,273 shares of company stock valued at $4,500,387 over the last 90 days. 27.40% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised 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 worth $104,000 after buying an additional 34 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in AmerisourceBergen Corporation (Holding Co) during the first quarter worth about $105,000. Sun Life Financial INC raised 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 worth $114,000 after buying an additional 1,200 shares during the last quarter. American Beacon Advisors Inc. acquired a new stake in AmerisourceBergen Corporation (Holding Co) during the first quarter worth about $108,000. Finally, SRS Capital Advisors Inc. raised 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 worth $109,000 after buying an additional 4 shares during the last quarter. 68.81% of the stock is owned by institutional investors and hedge funds.

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.

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