Robert W. Baird set a $99.00 price target on AmerisourceBergen (NYSE:ABC) in a research report released on Friday. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. Zacks Investment Research raised AmerisourceBergen from a sell rating to a hold rating in a research report on Friday, August 4th. Leerink Swann set a $90.00 target price on AmerisourceBergen and gave the stock a buy rating in a research note on Monday, August 7th. Needham & Company LLC increased their target price on AmerisourceBergen from $86.00 to $88.00 and gave the stock a buy rating in a research note on Wednesday, November 22nd. BidaskClub downgraded AmerisourceBergen from a hold rating to a sell rating in a research note on Saturday, August 5th. Finally, Royal Bank Of Canada began coverage on AmerisourceBergen in a research note on Tuesday, September 19th. They set a sector perform rating and a $87.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. AmerisourceBergen currently has an average rating of Buy and an average target price of $91.95.

Shares of AmerisourceBergen (NYSE:ABC) opened at $87.42 on Friday. AmerisourceBergen has a 1 year low of $71.90 and a 1 year high of $97.85. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.48 and a current ratio of 0.91. The firm has a market capitalization of $18,526.06, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00.

AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.01. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The company had revenue of $39.12 billion during the quarter, compared to analysts’ expectations of $40.10 billion. During the same period last year, the firm earned $1.30 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. equities analysts predict that AmerisourceBergen will post 6.06 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 20th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.74%. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, November 17th. AmerisourceBergen’s dividend payout ratio is 82.16%.

In related news, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $74.28, for a total value of $861,648.00. Following the completion of the transaction, the chief financial officer now directly owns 40,326 shares of the company’s stock, valued at approximately $2,995,415.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $76.94, for a total value of $1,642,669.00. Following the completion of the transaction, the chairman now directly owns 260,226 shares of the company’s stock, valued at $20,021,788.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,807 shares of company stock valued at $12,316,290. Company insiders own 27.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its position in AmerisourceBergen by 3.2% during the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after buying an additional 34 shares in the last quarter. Sun Life Financial INC increased its position in AmerisourceBergen by 15,000.0% during the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock worth $114,000 after buying an additional 1,200 shares in the last quarter. D.A. Davidson & CO. increased its position in AmerisourceBergen by 29.0% during the second quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock worth $157,000 after buying an additional 375 shares in the last quarter. Intl Fcstone Inc. purchased a new position in AmerisourceBergen during the second quarter worth $201,000. Finally, Pinnacle Associates Ltd. purchased a new position in AmerisourceBergen during the second quarter worth $203,000. 67.83% of the stock is owned by hedge funds and other institutional investors.

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AmerisourceBergen Company Profile

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 (NYSE:ABC)

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