AmerisourceBergen Corp. (ABC) Given Consensus Recommendation of “Hold” by Analysts

AmerisourceBergen Corp. (NYSE:ABC) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $86.00.

A number of equities research analysts have recently commented on ABC shares. Zacks Investment Research raised AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. TheStreet cut AmerisourceBergen from a “b” rating to a “c+” rating in a research note on Tuesday, March 19th. ValuEngine raised AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Thursday, January 31st. Finally, UBS Group initiated coverage on AmerisourceBergen in a research report on Thursday, January 17th. They set a “buy” rating and a $89.00 price objective on the stock.

In related news, Chairman Steven H. Collis sold 21,350 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $80.72, for a total transaction of $1,723,372.00. Following the sale, the chairman now directly owns 155,929 shares of the company’s stock, valued at $12,586,588.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dale Danilewitz sold 5,703 shares of the stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $86.80, for a total value of $495,020.40. Following the sale, the insider now directly owns 8,960 shares in the company, valued at $777,728. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 2,018 shares of company stock worth $156,471 and have sold 87,790 shares worth $7,302,538. Company insiders own 27.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Clarus Wealth Advisors lifted its holdings in AmerisourceBergen by 12.2% in the fourth quarter. Clarus Wealth Advisors now owns 1,308 shares of the company’s stock valued at $97,000 after acquiring an additional 142 shares during the period. Iowa State Bank lifted its holdings in AmerisourceBergen by 1.3% in the first quarter. Iowa State Bank now owns 10,963 shares of the company’s stock valued at $872,000 after acquiring an additional 144 shares during the period. Lenox Wealth Management Inc. lifted its holdings in AmerisourceBergen by 2.0% in the fourth quarter. Lenox Wealth Management Inc. now owns 8,379 shares of the company’s stock valued at $623,000 after acquiring an additional 163 shares during the period. Strategic Wealth Partners Ltd. lifted its holdings in AmerisourceBergen by 5.4% in the third quarter. Strategic Wealth Partners Ltd. now owns 3,201 shares of the company’s stock valued at $295,000 after acquiring an additional 164 shares during the period. Finally, AE Wealth Management LLC lifted its holdings in AmerisourceBergen by 5.3% in the fourth quarter. AE Wealth Management LLC now owns 3,541 shares of the company’s stock valued at $263,000 after acquiring an additional 179 shares during the period. 66.50% of the stock is currently owned by institutional investors.

Shares of NYSE ABC traded down $0.48 during trading on Tuesday, reaching $75.63. The company had a trading volume of 177,506 shares, compared to its average volume of 1,460,921. AmerisourceBergen has a 12-month low of $69.36 and a 12-month high of $95.00. The stock has a market cap of $16.18 billion, a P/E ratio of 11.65, a P/E/G ratio of 1.38 and a beta of 1.12. The company has a current ratio of 0.94, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43.

AmerisourceBergen (NYSE:ABC) last released its earnings results on Thursday, January 31st. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.10. AmerisourceBergen had a return on equity of 44.53% and a net margin of 0.69%. The firm had revenue of $45.39 billion for the quarter, compared to analysts’ expectations of $43.52 billion. As a group, analysts forecast that AmerisourceBergen will post 6.75 earnings per share for the current fiscal year.

About AmerisourceBergen

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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Analyst Recommendations for AmerisourceBergen (NYSE:ABC)

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