AmerisourceBergen (NYSE:ABC) Upgraded to “B” by TheStreet

TheStreet upgraded shares of AmerisourceBergen (NYSE:ABC) from a c+ rating to a b rating in a research note published on Thursday morning, TheStreetRatingsTable reports.

A number of other research analysts have also weighed in on the company. Guggenheim started coverage on AmerisourceBergen in a research report on Thursday, April 11th. They set a buy rating for the company. ValuEngine upgraded AmerisourceBergen from a sell rating to a hold rating in a research report on Wednesday, May 22nd. Zacks Investment Research upgraded AmerisourceBergen from a hold rating to a buy rating and set a $89.00 price target for the company in a research report on Wednesday, June 12th. Bank of America lowered AmerisourceBergen from a buy rating to an underperform rating and dropped their price target for the stock from $95.00 to $76.00 in a research report on Wednesday, April 10th. Finally, Argus dropped their price target on AmerisourceBergen from $115.00 to $100.00 and set a buy rating for the company in a research report on Monday, June 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $88.33.

Shares of AmerisourceBergen stock traded down $1.26 during trading on Thursday, reaching $90.44. 1,252,666 shares of the stock traded hands, compared to its average volume of 1,077,486. The firm has a market cap of $18.32 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97. The firm’s fifty day moving average price is $86.67. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.95 and a quick ratio of 0.56. AmerisourceBergen has a 52-week low of $69.36 and a 52-week high of $94.85.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.14. The firm had revenue of $45.24 billion during the quarter, compared to analyst estimates of $45.15 billion. AmerisourceBergen had a return on equity of 46.24% and a net margin of 0.53%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.54 earnings per share. On average, sell-side analysts predict that AmerisourceBergen will post 6.96 EPS for the current year.

In other AmerisourceBergen news, insider Dale Danilewitz sold 5,702 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $77.61, for a total value of $442,532.22. Following the completion of the sale, the insider now owns 7,330 shares of the company’s stock, valued at $568,881.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Henry Wadsworth Mcgee III sold 10,585 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $91.97, for a total transaction of $973,502.45. Following the completion of the sale, the director now directly 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 quarter, insiders sold 163,179 shares of company stock valued at $13,907,781. 27.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ABC. Rational Advisors LLC lifted its stake in AmerisourceBergen by 1,627.3% in the first quarter. Rational Advisors LLC now owns 380 shares of the company’s stock worth $30,000 after purchasing an additional 358 shares during the last quarter. Riverview Trust Co raised its stake in shares of AmerisourceBergen by 127.3% during the first quarter. Riverview Trust Co now owns 391 shares of the company’s stock valued at $31,000 after acquiring an additional 219 shares in the last quarter. Trust Co. of Vermont raised its stake in shares of AmerisourceBergen by 963.8% during the first quarter. Trust Co. of Vermont now owns 500 shares of the company’s stock valued at $40,000 after acquiring an additional 453 shares in the last quarter. Financial Gravity Wealth Inc. bought a new stake in shares of AmerisourceBergen during the first quarter valued at approximately $48,000. Finally, Winslow Evans & Crocker Inc. raised its stake in shares of AmerisourceBergen by 212.2% during the second quarter. Winslow Evans & Crocker Inc. now owns 718 shares of the company’s stock valued at $62,000 after acquiring an additional 488 shares in the last quarter. 66.49% of the stock is owned by institutional investors and hedge funds.

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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