AmerisourceBergen Corporation (Holding Co) (ABC) – Research Analysts’ Weekly Ratings Updates

AmerisourceBergen Corporation (Holding Co) (NYSE: ABC) has recently received a number of price target changes and ratings updates:

  • 10/31/2017 – AmerisourceBergen Corporation (Holding Co) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 10/29/2017 – AmerisourceBergen Corporation (Holding Co) was given a new $85.00 price target on by analysts at Jefferies Group LLC. They now have a “hold” rating on the stock.
  • 10/24/2017 – AmerisourceBergen Corporation (Holding Co) was given a new $93.00 price target on by analysts at Needham & Company LLC. They now have a “buy” rating on the stock.
  • 10/24/2017 – AmerisourceBergen Corporation (Holding Co) was given a new $92.00 price target on by analysts at Mizuho. They now have a “hold” rating on the stock.
  • 10/16/2017 – AmerisourceBergen Corporation (Holding Co) was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “AmerisourceBergen is expected to benefit from generics growth. The company has been actively pursuing acquisitions to strengthen its core areas. However, over the last month, AmerisourceBergen has been trading below the broader industry. Also, the company faces headwinds due to the slowdown in hepatitis C revenues and conversion of branded drugs to the lower price generics. Furthermore, a temporary slowdown in PharMEDium's growth is expected to mar the company’s bottom line. AmerisourceBergen expects a moderation in growth in fiscal 2017 due to a challenging healthcare landscape, as both healthcare providers and pharmaceutical manufacturers are facing increasing cost pressures. The company operates in a highly competitive pharmaceutical distribution market.”
  • 10/10/2017 – AmerisourceBergen Corporation (Holding Co) was upgraded by analysts at Cowen and Company from a “market perform” rating to an “outperform” rating.
  • 10/5/2017 – AmerisourceBergen Corporation (Holding Co) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating. They now have a $96.00 price target on the stock, up previously from $89.00.
  • 10/3/2017 – AmerisourceBergen Corporation (Holding Co) was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “AmerisourceBergen had an impressive run on the bourse over the last one month, trading above the broader industry in terms of price performance. The company faces headwinds due to the slowdown in hepatitis C revenues and conversion of branded drugs to the lower price generics. Furthermore, a temporary slowdown in PharMEDium's growth is expected to mar the company’s bottom line. AmerisourceBergen expects a moderation in growth in fiscal 2017 due to a challenging healthcare landscape, as both healthcare providers and pharmaceutical manufacturers are facing increasing cost pressures. The company operates in a highly competitive pharmaceutical distribution and related health care space. Furthermore, the generic industry is facing consolidation of customers and manufacturers, globalization and increasing quality and regulatory challenges. Added to this, AmerisourceBergen’s expensive valuation multiples pose risk owing to Trump’s unclear policy towards brand pricing.”
  • 9/19/2017 – AmerisourceBergen Corporation (Holding Co) is now covered by analysts at Royal Bank Of Canada. They set a “sector perform” rating and a $87.00 price target on the stock.
  • 9/14/2017 – AmerisourceBergen Corporation (Holding Co) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating.
  • 9/10/2017 – AmerisourceBergen Corporation (Holding Co) had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $91.00 price target on the stock.

Shares of AmerisourceBergen Corporation (NYSE ABC) opened at 76.95 on Wednesday. AmerisourceBergen Corporation has a 12 month low of $68.38 and a 12 month high of $97.85. The firm has a market capitalization of $16.86 billion, a price-to-earnings ratio of 20.05 and a beta of 0.96. The stock’s 50 day moving average is $80.92 and its 200 day moving average is $85.91.

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 business had revenue of $38.71 billion for the quarter, compared to analyst estimates of $39.13 billion. During the same period last year, the firm earned $1.37 earnings per share. AmerisourceBergen Corporation (Holding Co)’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts forecast that AmerisourceBergen Corporation will post $5.88 earnings per share for the current fiscal year.

In related news, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $82.78, for a total transaction of $960,248.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Dale Danilewitz sold 2,012 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $85.00, for a total transaction of $171,020.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,728 shares of company stock worth $5,215,143. 27.40% of the stock is owned by insiders.

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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