AmerisourceBergen Corp. (NYSE:ABC) – Equities researchers at Leerink Swann raised their Q3 2018 EPS estimates for AmerisourceBergen in a research note issued to investors on Tuesday. Leerink Swann analyst D. Larsen now expects that the company will earn $1.49 per share for the quarter, up from their previous estimate of $1.48. Leerink Swann has a “Buy” rating and a $105.00 price objective on the stock.
A number of other research analysts also recently issued reports on the stock. Jefferies Group set a $95.00 price target on shares of AmerisourceBergen and gave the stock a “hold” rating in a research report on Wednesday. TheStreet raised shares of AmerisourceBergen from a “c” rating to a “b” rating in a report on Tuesday. Zacks Investment Research raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Thursday. Needham & Company LLC dropped their price objective on shares of AmerisourceBergen from $117.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $112.00 price objective (up previously from $105.00) on shares of AmerisourceBergen in a report on Wednesday. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $101.17.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.20. AmerisourceBergen had a net margin of 0.66% and a return on equity of 53.65%. The company had revenue of $40.47 billion for the quarter, compared to the consensus estimate of $40.42 billion. During the same period last year, the firm posted $1.36 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in ABC. Thrivent Financial For Lutherans increased its stake in AmerisourceBergen by 3.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 6,250 shares of the company’s stock valued at $591,000 after buying an additional 180 shares during the period. Numeric Investors LLC increased its stake in AmerisourceBergen by 45.2% during the 2nd quarter. Numeric Investors LLC now owns 4,500 shares of the company’s stock valued at $425,000 after buying an additional 1,400 shares during the period. QS Investors LLC increased its stake in AmerisourceBergen by 9.5% during the 2nd quarter. QS Investors LLC now owns 12,610 shares of the company’s stock valued at $1,192,000 after buying an additional 1,094 shares during the period. Macquarie Group Ltd. increased its stake in AmerisourceBergen by 157.2% during the 2nd quarter. Macquarie Group Ltd. now owns 20,320 shares of the company’s stock valued at $1,921,000 after buying an additional 12,420 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in AmerisourceBergen by 48.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 313,320 shares of the company’s stock valued at $29,618,000 after buying an additional 101,751 shares during the period. 67.57% of the stock is currently owned by hedge funds and other institutional investors.
In other AmerisourceBergen news, insider Peyton R. Howell sold 17,800 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $89.70, for a total transaction of $1,596,660.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $82.53, for a total transaction of $1,762,015.50. Following the transaction, the chairman now directly owns 287,925 shares in the company, valued at approximately $23,762,450.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 204,934 shares of company stock worth $18,427,430. Corporate insiders own 27.30% of the company’s stock.
The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.70%. AmerisourceBergen’s dividend payout ratio (DPR) is presently 32.76%.
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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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