Analysts’ Weekly Ratings Changes for AmerisourceBergen (ABC)

A number of firms have modified their ratings and price targets on shares of AmerisourceBergen (NYSE: ABC) recently:

  • 12/3/2018 – AmerisourceBergen was given a new $91.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
  • 11/30/2018 – AmerisourceBergen had its price target lowered by analysts at Royal Bank of Canada from $90.00 to $87.00. They now have a “hold” rating on the stock.
  • 11/28/2018 – AmerisourceBergen was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “AmerisourceBergen’s dull performance in the PharMEDium and Lash unit have been a headwind in the last couple of quarters. Contraction in gross and operating margin in the last reported quarter raises concern. The company faces other headwinds like conversion of branded drugs and lower price generics. Cutthroat competition in the MedTech space adds to the woes. On the positive side, businesses like World Courier and Xcenda have been raking in huge profits since quite some time. AmerisourceBergen also continues to gain from its specialty distribution business. Additionally, AmerisourceBergen’s Global Commercialization Services and Animal Health unit saw a strong fourth quarter. A positive guidance for 2019 buoys optimism. The stock has outperformed the industry in a year’s time.”
  • 11/22/2018 – AmerisourceBergen was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “AmerisourceBergen exited the fiscal fourth quarter on a tepid note. While earnings edged past the consensus mark, revenues lagged the same. On the brighter side, businesses like World Courier and Xcenda, exceeded expectations in the quarter. AmerisourceBergen also continues to gain from its specialty distribution business. Additionally, AmerisourceBergen’s Global Commercialization Services and Animal Health unit saw a strong fourth quarter. A positive guidance for 2019 buoys optimism. The stock has outperformed the industry in a year’s time. However, lower PharMEDium and Lash unit sales partially marred segmental operating income in the quarter. Contraction in gross and operating margin raises concern. Earnings in the first quarter of fiscal 2019 are expected to remain down. The company faces headwinds like conversion of branded drugs and lower price generics. Cutthroat competition in the MedTech space adds to the woes.”
  • 11/16/2018 – AmerisourceBergen was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “AmerisourceBergen exited the fiscal fourth quarter on a tepid note. While earnings edged past the consensus mark, revenues lagged the same. However, businesses like World Courier and Xcenda, exceeded expectations in the quarter. AmerisourceBergen also continues to gain from its specialty distribution business. Additionally, AmerisourceBergen’s Global Commercialization Services and Animal Health unit saw a strong fourth quarter. A positive guidance for 2019 buoys optimism. AmerisourceBergen has outperformed the industry in a year’s time. On the flip side, lower PharMEDium and Lash unit sales partially marred segmental operating income in the quarter. Contraction in gross and operating margin raises concern. Earnings in the first quarter of fiscal 2019 are expected to remain down. The company faces headwinds like conversion of branded drugs and lower price generics. Cutthroat competition in the MedTech space adds to the woes.”
  • 11/7/2018 – AmerisourceBergen was given a new $90.00 price target on by analysts at Royal Bank of Canada. They now have a “hold” rating on the stock.

Shares of AmerisourceBergen stock opened at $89.02 on Tuesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.93 and a quick ratio of 0.50. AmerisourceBergen Corp. has a twelve month low of $77.28 and a twelve month high of $106.27. The firm has a market cap of $18.84 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. AmerisourceBergen had a net margin of 0.99% and a return on equity of 45.54%. The firm had revenue of $43.30 billion during the quarter, compared to analysts’ expectations of $43.27 billion. During the same period in the prior year, the company earned $1.33 EPS. The firm’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts expect that AmerisourceBergen Corp. will post 6.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Monday, November 19th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.80%. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, November 16th. AmerisourceBergen’s dividend payout ratio is 24.65%.

In other AmerisourceBergen news, insider John G. Chou sold 6,974 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $86.19, for a total value of $601,089.06. Following the completion of the transaction, the insider now directly owns 56,125 shares of the company’s stock, valued at approximately $4,837,413.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gina Clark sold 29,549 shares of the company’s stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $88.33, for a total transaction of $2,610,063.17. Following the completion of the transaction, the executive vice president now directly owns 45,344 shares of the company’s stock, valued at $4,005,235.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,403 shares of company stock valued at $10,928,342. 27.30% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Hallmark Capital Management Inc. boosted its position in AmerisourceBergen by 0.3% in the 3rd quarter. Hallmark Capital Management Inc. now owns 176,274 shares of the company’s stock valued at $16,256,000 after buying an additional 600 shares during the last quarter. Financial Gravity Wealth Inc. raised its stake in shares of AmerisourceBergen by 93.2% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock valued at $108,000 after purchasing an additional 605 shares in the last quarter. Elmwood Wealth Management Inc. raised its stake in shares of AmerisourceBergen by 8.9% in the 3rd quarter. Elmwood Wealth Management Inc. now owns 7,533 shares of the company’s stock valued at $695,000 after purchasing an additional 618 shares in the last quarter. Parsons Capital Management Inc. RI raised its stake in shares of AmerisourceBergen by 5.7% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 11,609 shares of the company’s stock valued at $990,000 after purchasing an additional 621 shares in the last quarter. Finally, S&T Bank PA raised its stake in shares of AmerisourceBergen by 0.8% in the 3rd quarter. S&T Bank PA now owns 85,177 shares of the company’s stock valued at $7,855,000 after purchasing an additional 667 shares in the last quarter. 64.58% of the stock is owned by institutional investors.

AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.

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