AmerisourceBergen Corporation (Holding Co) (ABC) Price Target Raised to $88.00

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) had its target price raised by Needham & Company LLC from $86.00 to $88.00 in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued reports about the stock. Leerink Swann set a $90.00 price target on shares of AmerisourceBergen Corporation (Holding Co) and gave the stock a buy rating in a report on Monday, August 7th. ValuEngine raised shares of AmerisourceBergen Corporation (Holding Co) from a hold rating to a buy rating in a report on Tuesday, October 31st. Robert W. Baird reissued a buy rating and set a $96.00 price target on shares of AmerisourceBergen Corporation (Holding Co) in a report on Monday, November 6th. TheStreet downgraded shares of AmerisourceBergen Corporation (Holding Co) from a b rating to a c+ rating in a report on Thursday, August 3rd. Finally, Morgan Stanley downgraded shares of AmerisourceBergen Corporation (Holding Co) from an overweight rating to an equal weight rating in a report on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $91.14.

Shares of AmerisourceBergen Corporation (NYSE:ABC) opened at $81.23 on Wednesday. AmerisourceBergen Corporation has a twelve month low of $71.90 and a twelve month high of $97.85. The stock has a market cap of $17,835.63, a price-to-earnings ratio of 13.82, a P/E/G ratio of 1.41 and a beta of 0.95. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.83.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.01. AmerisourceBergen Corporation (Holding Co) had a net margin of 0.27% and a return on equity of 56.29%. The firm had revenue of $39.12 billion for the quarter, compared to the consensus estimate of $40.10 billion. During the same period in the prior year, the firm posted $1.30 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. analysts anticipate that AmerisourceBergen Corporation will post 6.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 20th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 17th. This is a boost from AmerisourceBergen Corporation (Holding Co)’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 1.87%. AmerisourceBergen Corporation (Holding Co)’s dividend payout ratio is currently 82.16%.

In other AmerisourceBergen Corporation (Holding Co) news, insider Dale Danilewitz sold 2,012 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were 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 can be accessed through this link. Also, insider Peyton R. Howell sold 3,243 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $80.23, for a total transaction of $260,185.89. Following the completion of the sale, the insider now owns 37,135 shares of the company’s stock, valued at $2,979,341.05. The disclosure for this sale can be found here. Insiders have sold 103,670 shares of company stock valued at $8,067,058 over the last 90 days. 27.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC raised its position in shares of 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 during the last quarter. Sun Life Financial INC raised its position in shares of 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 during the last quarter. D.A. Davidson & CO. raised its position in shares of AmerisourceBergen Corporation (Holding Co) by 29.0% in the second quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock valued at $157,000 after buying an additional 375 shares during the last quarter. Intl Fcstone Inc. acquired a new stake in shares of AmerisourceBergen Corporation (Holding Co) in the second quarter valued at about $201,000. Finally, Pinnacle Associates Ltd. acquired a new stake in shares of AmerisourceBergen Corporation (Holding Co) in the second quarter valued at about $203,000. Institutional investors and hedge funds own 68.50% of the company’s stock.

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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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