AmerisourceBergen (NYSE:ABC) Receives New Coverage from Analysts at Deutsche Bank

Deutsche Bank started coverage on shares of AmerisourceBergen (NYSE:ABC) in a research note released on Thursday morning, BenzingaRatingsTable reports. The firm issued a hold rating and a $91.00 price objective on the stock.

ABC has been the subject of several other reports. Zacks Investment Research upgraded shares of AmerisourceBergen from a hold rating to a buy rating and set a $89.00 price target for the company in a research report on Wednesday, June 12th. TheStreet upgraded shares of AmerisourceBergen from a c+ rating to a b rating in a research report on Thursday, August 1st. Argus dropped their target price on shares of AmerisourceBergen from $115.00 to $100.00 and set a buy rating for the company in a report on Monday, June 3rd. Morgan Stanley dropped their target price on shares of AmerisourceBergen from $91.00 to $83.00 and set an equal weight rating for the company in a report on Friday, September 6th. Finally, ValuEngine lowered shares of AmerisourceBergen from a hold rating to a sell rating in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $87.38.

NYSE ABC traded down $0.91 during trading on Thursday, hitting $83.73. 89,619 shares of the company’s stock traded hands, compared to its average volume of 1,158,319. The stock has a fifty day moving average of $86.21 and a two-hundred day moving average of $82.00. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.95 and a quick ratio of 0.56. AmerisourceBergen has a 12-month low of $69.36 and a 12-month high of $94.85. The firm has a market cap of $18.05 billion, a P/E ratio of 12.93, a PEG ratio of 1.54 and a beta of 1.00.



AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.14. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The business had revenue of $45.24 billion during the quarter, compared to analyst estimates of $45.15 billion. During the same period in the prior year, the business posted $1.54 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. As a group, analysts expect that AmerisourceBergen will post 7.05 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, August 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.91%. AmerisourceBergen’s dividend payout ratio is currently 24.65%.

In related news, CEO Steven H. Collis sold 19,905 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $86.89, for a total value of $1,729,545.45. Following the completion of the transaction, the chief executive officer now directly owns 154,484 shares of the company’s stock, valued at $13,423,114.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Steven H. Collis sold 107,826 shares of the stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $86.18, for a total transaction of $9,292,444.68. Following the completion of the transaction, the chairman now directly owns 242,405 shares of the company’s stock, valued at $20,890,462.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,215 shares of company stock valued at $16,240,235. 27.80% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of AmerisourceBergen by 16.8% during the second quarter. Vanguard Group Inc. now owns 18,910,594 shares of the company’s stock valued at $1,612,318,000 after purchasing an additional 2,719,868 shares in the last quarter. Marshall Wace North America L.P. increased its stake in shares of AmerisourceBergen by 318.9% during the first quarter. Marshall Wace North America L.P. now owns 907,474 shares of the company’s stock valued at $72,163,000 after purchasing an additional 690,823 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of AmerisourceBergen by 493.2% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 757,887 shares of the company’s stock valued at $64,617,000 after purchasing an additional 630,123 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of AmerisourceBergen by 1,584.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 490,101 shares of the company’s stock valued at $41,786,000 after purchasing an additional 461,002 shares in the last quarter. Finally, Ceredex Value Advisors LLC increased its stake in shares of AmerisourceBergen by 23.9% during the first quarter. Ceredex Value Advisors LLC now owns 2,135,142 shares of the company’s stock valued at $169,787,000 after purchasing an additional 411,607 shares in the last quarter. 66.10% of the stock is owned by institutional investors.

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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