AmerisourceBergen Corp. (NYSE:ABC) Receives Average Rating of “Hold” from Analysts
AmerisourceBergen Corp. (NYSE:ABC) has earned an average recommendation of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $87.38.
ABC has been the subject of a number of research analyst reports. Deutsche Bank initiated coverage on AmerisourceBergen in a research note on Thursday. They issued a “hold” rating and a $91.00 target price for the company. Morgan Stanley lowered their target price on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, September 6th. Zacks Investment Research upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research note on Wednesday, June 12th. TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. Finally, ValuEngine cut AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th.
NYSE ABC traded down $1.15 on Friday, hitting $83.49. The company’s stock had a trading volume of 62,355 shares, compared to its average volume of 1,158,319. AmerisourceBergen has a 52-week low of $69.36 and a 52-week high of $94.85. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. The company’s 50-day simple moving average is $86.21 and its 200 day simple moving average is $82.00. The firm has a market cap of $18.05 billion, a P/E ratio of 12.85, a PEG ratio of 1.54 and a beta of 1.00.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Friday, August 16th. AmerisourceBergen’s payout ratio is presently 24.65%.
In other AmerisourceBergen news, CEO Steven H. Collis sold 19,905 shares of AmerisourceBergen stock in a transaction on Monday, September 9th. The stock was sold at an average price of $86.89, for a total transaction of $1,729,545.45. Following the completion of the transaction, the chief executive officer now owns 154,484 shares in the company, valued at $13,423,114.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Henry Wadsworth Mcgee III sold 10,585 shares of AmerisourceBergen stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $91.97, for a total value of $973,502.45. Following the transaction, the director now owns 24,510 shares of the company’s stock, valued at approximately $2,254,184.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 186,215 shares of company stock valued at $16,240,235. 27.80% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in ABC. Vanguard Group Inc. raised its stake in AmerisourceBergen by 16.8% during the second quarter. Vanguard Group Inc. now owns 18,910,594 shares of the company’s stock valued at $1,612,318,000 after buying an additional 2,719,868 shares during the last quarter. Marshall Wace North America L.P. increased its holdings in shares of AmerisourceBergen by 318.9% in the 1st quarter. Marshall Wace North America L.P. now owns 907,474 shares of the company’s stock worth $72,163,000 after purchasing an additional 690,823 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in shares of AmerisourceBergen by 493.2% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 757,887 shares of the company’s stock worth $64,617,000 after purchasing an additional 630,123 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of AmerisourceBergen by 1,584.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 490,101 shares of the company’s stock worth $41,786,000 after purchasing an additional 461,002 shares in the last quarter. Finally, Ceredex Value Advisors LLC increased its holdings in shares of AmerisourceBergen by 23.9% in the 1st quarter. Ceredex Value Advisors LLC now owns 2,135,142 shares of the company’s stock worth $169,787,000 after purchasing an additional 411,607 shares in the last quarter. Institutional investors and hedge funds own 66.10% of the company’s stock.
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.
Featured Article: How are dividend achievers different from dividend aristocrats?
Receive News & Ratings for AmerisourceBergen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen and related companies with MarketBeat.com's FREE daily email newsletter.