Investment Analysts’ Recent Ratings Updates for AmerisourceBergen (ABC)

Several analysts have recently updated their ratings and price targets for AmerisourceBergen (NYSE: ABC):

  • 1/20/2023 – AmerisourceBergen was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
  • 1/12/2023 – AmerisourceBergen was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
  • 1/12/2023 – AmerisourceBergen had its price target raised by analysts at Argus from $170.00 to $190.00. They now have a “buy” rating on the stock.
  • 1/11/2023 – AmerisourceBergen had its price target raised by analysts at Robert W. Baird from $195.00 to $199.00. They now have an “outperform” rating on the stock.
  • 11/29/2022 – AmerisourceBergen was downgraded by analysts at TheStreet from a “b-” rating to a “c” rating.

AmerisourceBergen Stock Performance

AmerisourceBergen stock traded up $0.04 during midday trading on Wednesday, reaching $161.47. 259,810 shares of the stock traded hands, compared to its average volume of 1,288,588. The company has a current ratio of 0.91, a quick ratio of 0.55 and a debt-to-equity ratio of 64.99. The firm has a fifty day moving average price of $165.96 and a two-hundred day moving average price of $152.87. The firm has a market cap of $33.21 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.63 and a beta of 0.55. AmerisourceBergen Co. has a fifty-two week low of $129.10 and a fifty-two week high of $174.63.

AmerisourceBergen (NYSE:ABCGet Rating) last posted its earnings results on Thursday, November 3rd. The company reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.02. The firm had revenue of $61.17 billion during the quarter, compared to analyst estimates of $60.56 billion. AmerisourceBergen had a net margin of 0.71% and a return on equity of 444.46%. AmerisourceBergen’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.39 EPS. On average, equities research analysts forecast that AmerisourceBergen Co. will post 11.5 earnings per share for the current year.

AmerisourceBergen Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 28th. Stockholders of record on Monday, November 14th were paid a $0.485 dividend. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.46. This represents a $1.94 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Thursday, November 10th. AmerisourceBergen’s dividend payout ratio is currently 24.13%.

Insider Transactions at AmerisourceBergen

In other news, EVP Gina Clark sold 392 shares of the company’s stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $166.30, for a total value of $65,189.60. Following the completion of the sale, the executive vice president now directly owns 28,657 shares of the company’s stock, valued at approximately $4,765,659.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 13,234,153 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $154.60, for a total value of $2,046,000,053.80. Following the sale, the insider now directly owns 39,629,714 shares in the company, valued at approximately $6,126,753,784.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gina Clark sold 392 shares of the business’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $166.30, for a total transaction of $65,189.60. Following the completion of the sale, the executive vice president now owns 28,657 shares in the company, valued at $4,765,659.10. The disclosure for this sale can be found here. In the last three months, insiders sold 19,279,532 shares of company stock valued at $3,043,889,702. Company insiders own 28.80% of the company’s stock.

Institutional Trading of AmerisourceBergen

Hedge funds and other institutional investors have recently made changes to their positions in the business. RFP Financial Group LLC bought a new stake in shares of AmerisourceBergen in the 4th quarter worth approximately $25,000. Crewe Advisors LLC acquired a new stake in shares of AmerisourceBergen during the second quarter valued at approximately $29,000. Boyd Watterson Asset Management LLC OH acquired a new stake in shares of AmerisourceBergen during the fourth quarter valued at approximately $29,000. Hanseatic Management Services Inc. raised its holdings in shares of AmerisourceBergen by 73.7% during the third quarter. Hanseatic Management Services Inc. now owns 264 shares of the company’s stock valued at $36,000 after acquiring an additional 112 shares during the period. Finally, MV Capital Management Inc. raised its holdings in shares of AmerisourceBergen by 420.0% during the second quarter. MV Capital Management Inc. now owns 260 shares of the company’s stock valued at $37,000 after acquiring an additional 210 shares during the period. 84.79% of the stock is currently owned by institutional investors.

AmerisourceBergen Corp. engages in the provision of pharmaceutical products and business solutions that improve access to care. It operates through the Pharmaceutical Distribution Services and Other segments. The Pharmaceutical Distribution Services segment distributes an offering of brand-name, specialty brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, and long-term care and alternate site pharmacies.

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