AmerisourceBergen Corporation (Holding Co) (ABC) Upgraded to Buy by ValuEngine

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Tuesday.

A number of other analysts have also recently weighed in on the stock. Jefferies Group LLC set a $85.00 price target on shares of AmerisourceBergen Corporation (Holding Co) and gave the company a “hold” rating in a report on Sunday. Mizuho set a $92.00 price target on shares of AmerisourceBergen Corporation (Holding Co) and gave the company a “hold” rating in a report on Tuesday, October 24th. Needham & Company LLC set a $93.00 price target on shares of AmerisourceBergen Corporation (Holding Co) and gave the company a “buy” rating in a report on Tuesday, October 24th. Zacks Investment Research upgraded shares of AmerisourceBergen Corporation (Holding Co) from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Finally, Cowen and Company upgraded shares of AmerisourceBergen Corporation (Holding Co) from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $91.13.

AmerisourceBergen Corporation (NYSE ABC) opened at 76.93 on Tuesday. AmerisourceBergen Corporation has a 52 week low of $68.38 and a 52 week high of $97.85. The company has a market cap of $16.86 billion, a P/E ratio of 20.04 and a beta of 0.96. The stock has a 50 day moving average of $81.12 and a 200 day moving average of $85.97.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last released its quarterly earnings results on Thursday, August 3rd. The company reported $1.43 earnings per share for the quarter, beating 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 business had revenue of $38.71 billion for the quarter, compared to analysts’ expectations of $39.13 billion. During the same period last year, the business earned $1.37 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. On average, analysts expect that AmerisourceBergen Corporation will post $5.88 earnings per share for the current year.

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In other AmerisourceBergen Corporation (Holding Co) news, CFO Tim G. Guttman sold 11,600 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $79.47, for a total transaction of $921,852.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $80.94, for a total transaction of $103,036.62. Following the sale, the insider now owns 10,830 shares of the company’s stock, valued at $876,580.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,728 shares of company stock valued at $5,215,143. Company insiders own 27.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bollard Group LLC lifted its stake in AmerisourceBergen Corporation (Holding Co) by 0.4% during the 2nd quarter. Bollard Group LLC now owns 2,924 shares of the company’s stock valued at $276,000 after acquiring an additional 12 shares during the period. Parallel Advisors LLC lifted its stake in AmerisourceBergen Corporation (Holding Co) by 3.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock valued at $104,000 after acquiring an additional 34 shares during the period. Savant Capital LLC lifted its stake in AmerisourceBergen Corporation (Holding Co) by 0.8% during the 2nd quarter. Savant Capital LLC now owns 4,846 shares of the company’s stock valued at $458,000 after acquiring an additional 40 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in AmerisourceBergen Corporation (Holding Co) by 0.4% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 13,975 shares of the company’s stock valued at $1,321,000 after acquiring an additional 50 shares during the period. Finally, Stephens Inc. AR lifted its stake in AmerisourceBergen Corporation (Holding Co) by 1.5% during the 2nd quarter. Stephens Inc. AR now owns 5,141 shares of the company’s stock valued at $486,000 after acquiring an additional 77 shares during the period. Institutional investors and hedge funds own 67.49% 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.

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