AmerisourceBergen (ABC) Given a $99.00 Price Target by Robert W. Baird Analysts

AmerisourceBergen (NYSE:ABC) received a $99.00 price target from investment analysts at Robert W. Baird in a research report issued to clients and investors on Friday. The firm presently has a “buy” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 16.54% from the company’s current price.

Several other equities research analysts also recently issued reports on the stock. Morgan Stanley downgraded shares of AmerisourceBergen from an “overweight” rating to an “equal weight” rating in a research report on Thursday, September 14th. Mizuho set a $92.00 price objective on shares of AmerisourceBergen and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Zacks Investment Research downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. ValuEngine downgraded shares of AmerisourceBergen from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Cowen raised shares of AmerisourceBergen from a “market perform” rating to an “outperform” rating in a research report on Tuesday, October 10th. 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 issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $91.44.

Shares of AmerisourceBergen (NYSE:ABC) opened at $84.95 on Friday. 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 has a 12-month low of $71.90 and a 12-month high of $97.85. The stock has a market cap of $18,497.71, a price-to-earnings ratio of 14.40, a PEG ratio of 1.47 and a beta of 0.99.

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

In related news, insider Dale Danilewitz sold 2,012 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $85.00, for a total value of $171,020.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peyton R. Howell sold 3,243 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 37,135 shares of the company’s stock, valued at approximately $2,979,341.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,670 shares of company stock valued at $7,038,258. 27.40% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in ABC. Vanguard Group Inc. grew its position in shares of AmerisourceBergen by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 15,653,245 shares of the company’s stock valued at $1,479,701,000 after acquiring an additional 304,628 shares during the period. JPMorgan Chase & Co. grew its position in shares of AmerisourceBergen by 107.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock valued at $434,385,000 after acquiring an additional 2,776,287 shares during the period. Franklin Resources Inc. grew its position in shares of AmerisourceBergen by 23.1% in the 2nd quarter. Franklin Resources Inc. now owns 3,902,289 shares of the company’s stock valued at $368,884,000 after acquiring an additional 731,466 shares during the period. Wells Fargo & Company MN grew its position in shares of AmerisourceBergen by 11.4% in the 3rd quarter. Wells Fargo & Company MN now owns 3,726,377 shares of the company’s stock valued at $308,358,000 after acquiring an additional 381,936 shares during the period. Finally, FIL Ltd grew its position in shares of AmerisourceBergen by 14.4% in the 2nd quarter. FIL Ltd now owns 3,477,157 shares of the company’s stock valued at $328,696,000 after acquiring an additional 437,132 shares during the period. 68.22% of the stock is owned by institutional investors and hedge funds.

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AmerisourceBergen 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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