AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) had its price objective raised by equities researchers at Needham & Company LLC from $86.00 to $88.00 in a research report issued on Wednesday. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 10.75% from the stock’s previous close.

Several other analysts also recently issued reports on ABC. UBS AG decreased their price target on AmerisourceBergen Corporation (Holding Co) from $94.00 to $87.00 and set a “neutral” rating for the company in a research note on Friday, August 4th. Zacks Investment Research upgraded AmerisourceBergen Corporation (Holding Co) from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. TheStreet downgraded AmerisourceBergen Corporation (Holding Co) from a “b” rating to a “c+” rating in a research note on Thursday, August 3rd. BidaskClub downgraded AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Leerink Swann set a $90.00 price target on AmerisourceBergen Corporation (Holding Co) and gave the stock a “buy” rating in a research note on Monday, August 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. AmerisourceBergen Corporation (Holding Co) currently has a consensus rating of “Hold” and an average target price of $91.14.

AmerisourceBergen Corporation (ABC) opened at $79.46 on Wednesday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.91 and a quick ratio of 0.48. AmerisourceBergen Corporation has a 52 week low of $71.90 and a 52 week high of $97.85. The company has a market capitalization of $16,972.34, a PE ratio of 13.15, a price-to-earnings-growth ratio of 1.35 and a beta of 0.95.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last released its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.01. The company had revenue of $39.12 billion during the quarter, compared to the consensus estimate of $40.10 billion. AmerisourceBergen Corporation (Holding Co) had a return on equity of 55.99% and a net margin of 0.27%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 EPS. equities research analysts forecast that AmerisourceBergen Corporation will post 6.04 EPS for the current fiscal year.

WARNING: “AmerisourceBergen Corporation (Holding Co) (ABC) PT Raised to $88.00” was posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this article on another site, it was stolen and republished in violation of US & international copyright legislation. The correct version of this article can be viewed at https://theolympiareport.com/2017/11/22/amerisourcebergen-corporation-holding-co-abc-pt-raised-to-88-00.html.

In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $79.92, for a total value of $1,198,800.00. Following the completion of the transaction, the chairman now owns 253,876 shares of the company’s stock, valued at approximately $20,289,769.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Tim G. Guttman sold 11,600 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $79.47, for a total value of $921,852.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,670 shares of company stock valued at $8,067,058. 27.40% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. First Merchants Corp raised its holdings in AmerisourceBergen Corporation (Holding Co) by 160.5% in the 3rd quarter. First Merchants Corp now owns 27,342 shares of the company’s stock valued at $2,262,000 after acquiring an additional 16,848 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in AmerisourceBergen Corporation (Holding Co) by 23.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,459 shares of the company’s stock valued at $369,000 after acquiring an additional 842 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in AmerisourceBergen Corporation (Holding Co) by 17.3% in the 3rd quarter. Wedge Capital Management L L P NC now owns 494,216 shares of the company’s stock valued at $40,896,000 after acquiring an additional 72,743 shares in the last quarter. Achmea Investment Management B.V. raised its holdings in AmerisourceBergen Corporation (Holding Co) by 7.8% in the 2nd quarter. Achmea Investment Management B.V. now owns 29,338 shares of the company’s stock valued at $2,770,000 after acquiring an additional 2,123 shares in the last quarter. Finally, Burgundy Asset Management Ltd. raised its holdings in AmerisourceBergen Corporation (Holding Co) by 3.3% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,649,123 shares of the company’s stock valued at $250,422,000 after acquiring an additional 84,163 shares in the last quarter. 68.50% of the stock is owned by hedge funds and other institutional investors.

About AmerisourceBergen Corporation (Holding Co)

AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.

Analyst Recommendations for AmerisourceBergen Corporation (Holding Co) (NYSE:ABC)

Receive News & Ratings for AmerisourceBergen Corporation (Holding Co) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen Corporation (Holding Co) and related companies with Analyst Ratings Network's FREE daily email newsletter.