AmerisourceBergen Corp. (ABC) Receives Consensus Rating of “Hold” from Analysts

AmerisourceBergen Corp. (NYSE:ABC) has received a consensus recommendation of “Hold” from the eighteen ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $102.62.

ABC has been the subject of several research reports. Morgan Stanley reduced their target price on shares of AmerisourceBergen from $97.00 to $88.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 3rd. Robert W. Baird reiterated a “neutral” rating and issued a $94.00 target price on shares of AmerisourceBergen in a research note on Friday, July 20th. ValuEngine cut shares of AmerisourceBergen from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Mizuho reiterated a “hold” rating and issued a $90.00 target price on shares of AmerisourceBergen in a research note on Sunday, August 12th. Finally, Zacks Investment Research cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd.

NYSE ABC opened at $85.99 on Tuesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.94 and a quick ratio of 0.51. AmerisourceBergen has a twelve month low of $71.90 and a twelve month high of $106.27. The stock has a market capitalization of $18.33 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.21 and a beta of 1.02.



AmerisourceBergen (NYSE:ABC) last released its earnings results on Thursday, August 2nd. The company reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.08. AmerisourceBergen had a net margin of 0.69% and a return on equity of 48.65%. The business had revenue of $43.14 billion during the quarter, compared to analysts’ expectations of $43.05 billion. During the same quarter last year, the company earned $1.43 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts anticipate that AmerisourceBergen will post 6.48 earnings per share for the current year.

In related news, EVP Kathy H. Gaddes sold 2,652 shares of the stock in a transaction dated Monday, October 22nd. The shares were sold at an average price of $92.96, for a total value of $246,529.92. Following the completion of the transaction, the executive vice president now owns 3,891 shares of the company’s stock, valued at $361,707.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven H. Collis sold 21,350 shares of the stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $81.25, for a total transaction of $1,734,687.50. Following the completion of the transaction, the chief executive officer now directly owns 287,925 shares of the company’s stock, valued at approximately $23,393,906.25. The disclosure for this sale can be found here. Insiders sold 96,048 shares of company stock valued at $8,380,762 in the last three months. Company insiders own 27.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ABC. Verition Fund Management LLC increased its holdings in shares of AmerisourceBergen by 49.3% during the first quarter. Verition Fund Management LLC now owns 5,613 shares of the company’s stock worth $484,000 after buying an additional 1,854 shares in the last quarter. Amalgamated Bank increased its holdings in shares of AmerisourceBergen by 10.9% during the first quarter. Amalgamated Bank now owns 23,317 shares of the company’s stock worth $2,010,000 after buying an additional 2,294 shares in the last quarter. Suntrust Banks Inc. increased its holdings in shares of AmerisourceBergen by 27.3% during the first quarter. Suntrust Banks Inc. now owns 18,634 shares of the company’s stock worth $1,606,000 after buying an additional 3,996 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in shares of AmerisourceBergen during the first quarter worth approximately $527,000. Finally, Brown Advisory Inc. increased its holdings in shares of AmerisourceBergen by 157.8% during the first quarter. Brown Advisory Inc. now owns 147,033 shares of the company’s stock worth $12,675,000 after buying an additional 89,997 shares in the last quarter. 66.22% of the stock is owned by institutional investors.

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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