AmerisourceBergen (NYSE:ABC) Given “Buy” Rating at Argus

Argus reaffirmed their buy rating on shares of AmerisourceBergen (NYSE:ABC) in a report released on Monday morning, 24/7 WallStreet reports. They currently have a $110.00 target price on the stock.

ABC has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price objective on shares of AmerisourceBergen from $95.00 to $91.00 and set a neutral rating on the stock in a research report on Friday, November 8th. Deutsche Bank began coverage on shares of AmerisourceBergen in a research note on Thursday, September 12th. They issued a hold rating and a $91.00 target price for the company. ValuEngine cut shares of AmerisourceBergen from a hold rating to a sell rating in a research note on Friday, November 1st. Royal Bank of Canada reiterated a sector performer rating on shares of AmerisourceBergen in a research note on Tuesday, November 12th. Finally, TheStreet cut shares of AmerisourceBergen from a b rating to a c+ rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $88.89.

Shares of AmerisourceBergen stock traded up $0.04 on Monday, reaching $87.81. The stock had a trading volume of 640,865 shares, compared to its average volume of 1,368,053. The company has a 50 day moving average price of $85.08 and a 200 day moving average price of $84.32. The company has a quick ratio of 0.58, a current ratio of 0.95 and a debt-to-equity ratio of 1.35. AmerisourceBergen has a 1 year low of $69.36 and a 1 year high of $94.75. The stock has a market capitalization of $18.35 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.46 and a beta of 0.98.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.03. AmerisourceBergen had a net margin of 0.48% and a return on equity of 48.84%. The firm 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 firm earned $1.45 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts forecast that AmerisourceBergen will post 7.54 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Friday, November 15th. AmerisourceBergen’s dividend payout ratio (DPR) is presently 22.57%.

In other AmerisourceBergen news, EVP John G. Chou sold 13,997 shares of AmerisourceBergen stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $86.07, for a total transaction of $1,204,721.79. Also, CEO Steven H. Collis sold 19,905 shares of AmerisourceBergen stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $86.89, for a total transaction of $1,729,545.45. Following the sale, the chief executive officer now owns 154,484 shares of the company’s stock, valued at $13,423,114.76. The disclosure for this sale can be found here. Insiders sold a total of 109,506 shares of company stock valued at $9,293,253 over the last quarter. 27.80% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Motco acquired a new stake in AmerisourceBergen during the 2nd quarter valued at approximately $26,000. Pathstone Family Office LLC increased its holdings in shares of AmerisourceBergen by 67.7% during the 2nd quarter. Pathstone Family Office LLC now owns 312 shares of the company’s stock valued at $27,000 after purchasing an additional 126 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of AmerisourceBergen during the 3rd quarter valued at approximately $27,000. Transamerica Financial Advisors Inc. purchased a new position in shares of AmerisourceBergen during the 2nd quarter valued at approximately $38,000. Finally, Citizens Financial Group Inc RI increased its holdings in shares of AmerisourceBergen by 316.5% during the 2nd quarter. Citizens Financial Group Inc RI now owns 454 shares of the company’s stock valued at $39,000 after purchasing an additional 345 shares in the last quarter. Institutional investors and hedge funds own 65.96% 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.

Featured Story: Arbitrage

Analyst Recommendations for AmerisourceBergen (NYSE:ABC)

Receive News & Ratings for AmerisourceBergen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen and related companies with MarketBeat.com's FREE daily email newsletter.