AmerisourceBergen Corp. (NYSE:ABC) Receives $89.67 Average Price Target from Analysts

AmerisourceBergen Corp. (NYSE:ABC) has earned a consensus rating of “Hold” from the nine research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $89.80.

A number of research analysts have recently weighed in on ABC shares. ValuEngine downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Argus restated a “buy” rating and issued a $110.00 target price on shares of AmerisourceBergen in a research note on Monday, November 18th. Finally, TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b-” rating in a research note on Friday, December 6th.

Shares of ABC stock opened at $91.06 on Thursday. AmerisourceBergen has a 1-year low of $70.55 and a 1-year high of $94.75. The company has a current ratio of 0.95, a quick ratio of 0.58 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $18.83 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 1.64 and a beta of 0.96. The stock’s fifty day simple moving average is $86.27 and its 200-day simple moving average is $86.00.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.03. AmerisourceBergen had a return on equity of 48.84% and a net margin of 0.48%. The business had revenue of $45.64 billion for the quarter, compared to the consensus estimate of $45.15 billion. During the same quarter in the previous year, the company posted $1.45 earnings per share. AmerisourceBergen’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts predict that AmerisourceBergen will post 7.52 EPS for the current year.

In other AmerisourceBergen news, CEO Steven H. Collis sold 19,905 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $84.42, for a total value of $1,680,380.10. Following the transaction, the chief executive officer now owns 162,027 shares in the company, valued at $13,678,319.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gina Clark sold 10,917 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $88.24, for a total value of $963,316.08. Insiders sold 64,724 shares of company stock worth $5,561,840 in the last 90 days. Corporate insiders own 27.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC boosted its stake in shares of AmerisourceBergen by 8.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,747 shares of the company’s stock worth $658,000 after acquiring an additional 606 shares in the last quarter. Huntington National Bank boosted its stake in shares of AmerisourceBergen by 19.4% during the 4th quarter. Huntington National Bank now owns 34,139 shares of the company’s stock worth $2,902,000 after acquiring an additional 5,558 shares in the last quarter. PGGM Investments boosted its stake in shares of AmerisourceBergen by 555.3% during the 4th quarter. PGGM Investments now owns 262,110 shares of the company’s stock worth $22,285,000 after acquiring an additional 222,110 shares in the last quarter. Wedbush Securities Inc. boosted its stake in shares of AmerisourceBergen by 13.3% during the 4th quarter. Wedbush Securities Inc. now owns 8,835 shares of the company’s stock worth $751,000 after acquiring an additional 1,039 shares in the last quarter. Finally, Occidental Asset Management LLC boosted its stake in shares of AmerisourceBergen by 7.7% during the 4th quarter. Occidental Asset Management LLC now owns 10,113 shares of the company’s stock worth $860,000 after acquiring an additional 720 shares in the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.

AmerisourceBergen Company Profile

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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