Jefferies Group LLC Analysts Give AmerisourceBergen Corporation (Holding Co) (ABC) a $85.00 Price Target

Jefferies Group LLC set a $85.00 price target on AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) in a research note published on Sunday. The firm currently has a hold rating on the stock.

A number of other research firms also recently commented on ABC. Needham & Company LLC reissued a buy rating and issued a $91.00 target price on shares of AmerisourceBergen Corporation (Holding Co) in a report on Sunday, September 10th. Mizuho set a $92.00 target price on AmerisourceBergen Corporation (Holding Co) and gave the company a hold rating in a report on Tuesday, October 24th. UBS AG reduced their target price on AmerisourceBergen Corporation (Holding Co) from $94.00 to $87.00 and set a neutral rating for the company in a report on Friday, August 4th. BidaskClub downgraded AmerisourceBergen Corporation (Holding Co) from a buy rating to a hold rating in a report on Monday, July 24th. Finally, ValuEngine downgraded AmerisourceBergen Corporation (Holding Co) from a buy rating to a hold rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $91.13.

AmerisourceBergen Corporation (ABC) opened at 76.95 on Friday. The firm’s 50-day moving average is $80.92 and its 200-day moving average is $85.91. AmerisourceBergen Corporation has a 52-week low of $68.38 and a 52-week high of $97.85. The firm has a market capitalization of $16.86 billion, a PE ratio of 20.05 and a beta of 0.96.

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

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In related news, insider Dale Danilewitz sold 2,012 shares of AmerisourceBergen Corporation (Holding Co) 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Peyton R. Howell sold 20,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $80.00, for a total value of $1,600,000.00. Following the sale, the insider now owns 57,135 shares of the company’s stock, valued at approximately $4,570,800. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,728 shares of company stock valued at $5,215,143. 27.40% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of ABC. Wellington Management Group LLP increased its position in AmerisourceBergen Corporation (Holding Co) by 2.4% during the 1st quarter. Wellington Management Group LLP now owns 104,347 shares of the company’s stock worth $9,235,000 after purchasing an additional 2,479 shares in the last quarter. Teachers Advisors LLC increased its position in AmerisourceBergen Corporation (Holding Co) by 4.3% during the 1st quarter. Teachers Advisors LLC now owns 377,689 shares of the company’s stock worth $33,425,000 after purchasing an additional 15,466 shares in the last quarter. Thrivent Financial For Lutherans increased its position in AmerisourceBergen Corporation (Holding Co) by 4.8% during the 1st quarter. Thrivent Financial For Lutherans now owns 6,070 shares of the company’s stock worth $537,000 after purchasing an additional 280 shares in the last quarter. Dimensional Fund Advisors LP increased its position in AmerisourceBergen Corporation (Holding Co) by 17.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 678,949 shares of the company’s stock worth $60,088,000 after purchasing an additional 100,190 shares in the last quarter. Finally, Canyon Capital Advisors LLC purchased a new stake in AmerisourceBergen Corporation (Holding Co) during the 1st quarter worth about $16,348,000. Hedge funds and other institutional investors 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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