AmerisourceBergen (ABC) Receives “Hold” Rating from Mizuho
AmerisourceBergen (NYSE:ABC)‘s stock had its “hold” rating reissued by analysts at Mizuho in a research note issued to investors on Sunday. They currently have a $90.00 target price on the stock. Mizuho’s target price would indicate a potential upside of 9.76% from the stock’s previous close.
ABC has been the topic of a number of other reports. Morgan Stanley lowered their price objective on shares of AmerisourceBergen from $97.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 3rd. Robert W. Baird restated a “hold” rating and issued a $89.00 target price on shares of AmerisourceBergen in a report on Friday, August 3rd. Finally, ValuEngine lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, May 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. AmerisourceBergen has a consensus rating of “Hold” and a consensus target price of $101.80.
AmerisourceBergen traded up $0.02, reaching $82.00, during trading hours on Friday, according to Marketbeat.com. The company’s stock had a trading volume of 2,521 shares, compared to its average volume of 1,534,104. The stock has a market cap of $17.74 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.28 and a beta of 1.00. AmerisourceBergen has a fifty-two week low of $71.90 and a fifty-two week high of $106.27. The company has a current ratio of 0.94, a quick ratio of 0.51 and a debt-to-equity ratio of 1.39.
In other news, EVP Dale Danilewitz sold 3,120 shares of the stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $81.67, for a total transaction of $254,810.40. Following the transaction, the executive vice president now directly owns 3,120 shares in the company, valued at approximately $254,810.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kathy H. Gaddes sold 2,652 shares of the stock in a transaction dated Wednesday, June 20th. The stock was sold at an average price of $92.03, for a total transaction of $244,063.56. Following the transaction, the insider now owns 3,891 shares in the company, valued at $358,088.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,682 shares of company stock worth $8,546,719. 27.30% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in ABC. Commonwealth Bank of Australia grew its position in AmerisourceBergen by 13.1% in the second quarter. Commonwealth Bank of Australia now owns 85,889 shares of the company’s stock valued at $7,317,000 after acquiring an additional 9,980 shares in the last quarter. Gabelli Funds LLC grew its position in AmerisourceBergen by 2.6% in the second quarter. Gabelli Funds LLC now owns 180,100 shares of the company’s stock valued at $15,357,000 after acquiring an additional 4,500 shares in the last quarter. Burgundy Asset Management Ltd. grew its position in AmerisourceBergen by 1.0% in the second quarter. Burgundy Asset Management Ltd. now owns 2,742,554 shares of the company’s stock valued at $233,858,000 after acquiring an additional 26,297 shares in the last quarter. Federated Investors Inc. PA grew its position in AmerisourceBergen by 74.4% in the second quarter. Federated Investors Inc. PA now owns 134,531 shares of the company’s stock valued at $11,471,000 after acquiring an additional 57,388 shares in the last quarter. Finally, FMR LLC grew its position in AmerisourceBergen by 8.2% in the second quarter. FMR LLC now owns 4,460,016 shares of the company’s stock valued at $380,305,000 after acquiring an additional 338,690 shares in the last quarter. Institutional investors and hedge funds own 66.68% 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.
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