ABC has been the topic of a number of other research reports. Mizuho set a $100.00 price target on shares of AmerisourceBergen and gave the stock a hold rating in a report on Wednesday, January 24th. Needham & Company LLC lifted their price target on shares of AmerisourceBergen from $88.00 to $108.00 and gave the stock a buy rating in a report on Tuesday, January 23rd. Zacks Investment Research upgraded shares of AmerisourceBergen from a hold rating to a buy rating and set a $111.00 price target on the stock in a report on Thursday, January 18th. Evercore ISI began coverage on shares of AmerisourceBergen in a report on Thursday, January 4th. They set an outperform rating and a $105.00 price target on the stock. Finally, Leerink Swann set a $105.00 price target on shares of AmerisourceBergen and gave the stock a buy rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. AmerisourceBergen has an average rating of Buy and an average target price of $101.17.
Shares of AmerisourceBergen (ABC) traded up $0.29 during trading on Tuesday, reaching $94.51. 201,588 shares of the company’s stock were exchanged, compared to its average volume of 1,749,621. AmerisourceBergen has a 1 year low of $71.90 and a 1 year high of $106.27. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.95 and a quick ratio of 0.48. The firm has a market capitalization of $20,700.00, a price-to-earnings ratio of 21.39, a P/E/G ratio of 1.47 and a beta of 1.02.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 5th. Investors of record on Tuesday, February 20th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.61%. AmerisourceBergen’s payout ratio is 34.47%.
In related news, insider Dale Danilewitz sold 1,857 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $74.69, for a total value of $138,699.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 21,350 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $98.58, for a total transaction of $2,104,683.00. Following the completion of the transaction, the chairman now owns 287,925 shares in the company, valued at approximately $28,383,646.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 201,934 shares of company stock worth $18,152,630. 27.30% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in ABC. Thrivent Financial For Lutherans increased its stake in AmerisourceBergen by 3.0% in the second quarter. Thrivent Financial For Lutherans now owns 6,250 shares of the company’s stock valued at $591,000 after purchasing an additional 180 shares in the last quarter. Numeric Investors LLC increased its stake in AmerisourceBergen by 45.2% in the second quarter. Numeric Investors LLC now owns 4,500 shares of the company’s stock valued at $425,000 after purchasing an additional 1,400 shares in the last quarter. QS Investors LLC increased its stake in AmerisourceBergen by 9.5% in the second quarter. QS Investors LLC now owns 12,610 shares of the company’s stock valued at $1,192,000 after purchasing an additional 1,094 shares in the last quarter. Macquarie Group Ltd. increased its stake in AmerisourceBergen by 157.2% in the second quarter. Macquarie Group Ltd. now owns 20,320 shares of the company’s stock valued at $1,921,000 after purchasing an additional 12,420 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in AmerisourceBergen by 48.1% in the second quarter. The Manufacturers Life Insurance Company now owns 313,320 shares of the company’s stock valued at $29,618,000 after purchasing an additional 101,751 shares in the last quarter. Institutional investors and hedge funds own 67.57% 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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