Zacks Investment Research downgraded shares of AmerisourceBergen (NYSE:ABC) from a buy rating to a hold rating in a research note published on Monday morning.

According to Zacks, “AmerisourceBergen has been trading below the broader industry over the last year. However, the company is expected to benefit from generics growth. AmerisourceBergen has been actively pursuing acquisitions to strengthen its core areas. Acquisition of H.D. Smith, the largest independent wholesaler in the United States, is worthy of mention. Solid performance in the Pharmaceutical Distribution Segment is a positive. Strong sales in the oncology unit have enhanced AmerisourceBergen Drug Corporation (ABDC) sales. On the flip side, AmerisourceBergen faces headwinds due to the slowdown in hepatitis C revenues and conversion of branded drugs to the lower price generics. Furthermore, a temporary slowdown in PharMEDium's growth is expected to mar the company’s bottom line. Cutthroat competition in niche space also adds to the woes.”

Several other equities analysts have also weighed in on the stock. Evercore ISI assumed coverage on shares of AmerisourceBergen in a research report on Thursday, January 4th. They issued an outperform rating and a $105.00 price objective on the stock. Leerink Swann set a $105.00 price objective on shares of AmerisourceBergen and gave the company a buy rating in a research report on Tuesday, January 2nd. Goldman Sachs Group raised shares of AmerisourceBergen from a neutral rating to a buy rating in a research report on Friday, December 15th. Cowen set a $107.00 price objective on shares of AmerisourceBergen and gave the company a buy rating in a research report on Tuesday, December 12th. Finally, Deutsche Bank assumed coverage on shares of AmerisourceBergen in a research report on Monday, December 4th. They issued a buy rating and a $97.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. AmerisourceBergen currently has an average rating of Buy and a consensus target price of $96.39.

Shares of AmerisourceBergen (ABC) traded down $0.44 on Monday, hitting $100.86. 1,895,800 shares of the stock traded hands, compared to its average volume of 1,480,208. The company has a market capitalization of $22,000.00, a price-to-earnings ratio of 62.26, a PEG ratio of 1.71 and a beta of 0.99. AmerisourceBergen has a 52 week low of $71.90 and a 52 week high of $101.85. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.91 and a quick ratio of 0.48.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.01. The company had revenue of $39.12 billion for the quarter, compared to analyst estimates of $40.10 billion. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 earnings per share. sell-side analysts expect that AmerisourceBergen will post 6.24 EPS for the current year.

In related news, Chairman Steven H. Collis sold 21,350 shares of the company’s stock in a transaction dated 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 transaction, the chairman now directly owns 260,226 shares in the company, valued at $20,021,788.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard W. Gochnauer sold 2,000 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $96.54, for a total transaction of $193,080.00. Following the completion of the transaction, the director now owns 12,947 shares in the company, valued at $1,249,903.38. The disclosure for this sale can be found here. Insiders sold 203,823 shares of company stock worth $17,145,148 over the last 90 days. 27.40% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in ABC. State of Alaska Department of Revenue grew its stake in AmerisourceBergen by 16.3% during the fourth quarter. State of Alaska Department of Revenue now owns 24,848 shares of the company’s stock worth $2,280,000 after buying an additional 3,480 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in AmerisourceBergen during the fourth quarter worth about $350,000. Cardinal Capital Management Inc. grew its stake in AmerisourceBergen by 16.9% during the fourth quarter. Cardinal Capital Management Inc. now owns 158,880 shares of the company’s stock worth $14,588,000 after buying an additional 22,960 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in AmerisourceBergen by 45.1% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 52,794 shares of the company’s stock worth $4,848,000 after buying an additional 16,400 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in AmerisourceBergen by 0.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 600,568 shares of the company’s stock worth $55,145,000 after buying an additional 1,616 shares in the last quarter. Institutional investors and hedge funds own 67.83% of the company’s stock.

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About AmerisourceBergen

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.

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