Deutsche Bank started coverage on shares of AmerisourceBergen (NYSE:ABC) in a research report report published on Monday, Marketbeat reports. The brokerage issued a buy rating and a $97.00 price objective on the stock.
A number of other equities analysts have also commented on the stock. Morgan Stanley lowered 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 target on shares of AmerisourceBergen and gave the company a hold rating in a research report on Tuesday, October 24th. Zacks Investment Research lowered shares of AmerisourceBergen from a hold rating to a sell rating in a research report on Tuesday, October 3rd. ValuEngine lowered shares of AmerisourceBergen from a buy rating to a hold rating in a research report on Friday, September 1st. Finally, Cowen upgraded 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, seven have given a buy rating and one has given a strong buy rating to the company. AmerisourceBergen has a consensus rating of Buy and an average price target of $91.95.
Shares of AmerisourceBergen (NYSE:ABC) opened at $85.99 on Monday. The firm has a market cap of $19,064.73, a PE ratio of 14.84, a P/E/G ratio of 1.52 and a beta of 1.00. AmerisourceBergen has a 52 week low of $71.90 and a 52 week high of $97.85. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.91 and a quick ratio of 0.48.
The business also recently announced a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 20th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.77%. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, November 17th. AmerisourceBergen’s dividend payout ratio is presently 82.16%.
In other news, CFO Tim G. Guttman sold 11,600 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $74.28, for a total transaction of $861,648.00. Following the transaction, the chief financial officer now directly owns 40,326 shares in the company, valued at $2,995,415.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Steven H. Collis sold 21,350 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $76.94, for a total transaction of $1,642,669.00. Following the transaction, the chairman now owns 260,226 shares in the company, valued at $20,021,788.44. The disclosure for this sale can be found here. Insiders have sold 165,407 shares of company stock worth $13,310,758 over the last quarter. 27.40% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in ABC. Parallel Advisors LLC raised its stake in shares of AmerisourceBergen by 3.2% during the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after buying an additional 34 shares during the last quarter. Sun Life Financial INC raised its stake in shares of AmerisourceBergen by 15,000.0% during the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock worth $114,000 after buying an additional 1,200 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of AmerisourceBergen by 29.0% during the second quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock worth $157,000 after buying an additional 375 shares during the last quarter. Intl Fcstone Inc. bought a new stake in shares of AmerisourceBergen during the second quarter worth approximately $201,000. Finally, Pinnacle Associates Ltd. bought a new stake in shares of AmerisourceBergen during the second quarter worth approximately $203,000. Institutional investors own 67.83% of the company’s stock.
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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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