ValuEngine upgraded shares of AmerisourceBergen (NYSE:ABC) from a sell rating to a hold rating in a report released on Wednesday, ValuEngine reports.

ABC has been the topic of several other research reports. TheStreet cut AmerisourceBergen from a b rating to a c+ rating in a research note on Tuesday, March 19th. Zacks Investment Research cut AmerisourceBergen from a hold rating to a sell rating in a research note on Thursday, March 14th. Guggenheim initiated coverage on AmerisourceBergen in a research note on Thursday, April 11th. They issued a buy rating on the stock. Bank of America cut AmerisourceBergen from a buy rating to an underperform rating and cut their price target for the stock from $95.00 to $76.00 in a research note on Wednesday, April 10th. Finally, Wolfe Research initiated coverage on AmerisourceBergen in a research note on Tuesday, April 2nd. They issued a market perform rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. AmerisourceBergen currently has an average rating of Hold and a consensus target price of $86.38.

NYSE:ABC opened at $81.80 on Wednesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.56 and a current ratio of 0.95. AmerisourceBergen has a one year low of $69.36 and a one year high of $94.88. The stock has a market capitalization of $16.93 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 1.57 and a beta of 1.07.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Thursday, May 2nd. The company reported $2.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.15. AmerisourceBergen had a return on equity of 46.24% and a net margin of 0.53%. The business had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $43.44 billion. During the same quarter in the previous year, the firm posted $1.94 earnings per share. The company’s revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts predict that AmerisourceBergen will post 6.81 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, May 17th. AmerisourceBergen’s dividend payout ratio is currently 24.65%.

In related news, CEO Steven H. Collis sold 21,344 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $83.62, for a total value of $1,784,785.28. Following the completion of the sale, the chief executive officer now directly owns 155,923 shares of the company’s stock, valued at $13,038,281.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Dale Danilewitz sold 543 shares of the business’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $86.30, for a total value of $46,860.90. Following the completion of the sale, the executive vice president now directly owns 2,714 shares of the company’s stock, valued at $234,218.20. The disclosure for this sale can be found here. Over the last three months, insiders purchased 2,018 shares of company stock valued at $156,471 and sold 45,586 shares valued at $3,679,443. 27.80% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in ABC. Acima Private Wealth LLC bought a new stake in AmerisourceBergen in the fourth quarter valued at about $26,000. Rational Advisors LLC increased its holdings in AmerisourceBergen by 1,627.3% in the first quarter. Rational Advisors LLC now owns 380 shares of the company’s stock valued at $30,000 after buying an additional 358 shares during the last quarter. Riverview Trust Co increased its holdings in AmerisourceBergen by 127.3% in the first quarter. Riverview Trust Co now owns 391 shares of the company’s stock valued at $31,000 after buying an additional 219 shares during the last quarter. Private Capital Group LLC grew its holdings in shares of AmerisourceBergen by 201.3% during the fourth quarter. Private Capital Group LLC now owns 482 shares of the company’s stock valued at $36,000 after purchasing an additional 322 shares during the last quarter. Finally, JNBA Financial Advisors bought a new position in shares of AmerisourceBergen during the fourth quarter valued at approximately $37,000. 65.71% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for AmerisourceBergen (NYSE:ABC)

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