AmerisourceBergen (NYSE:ABC) Rating Lowered to Sell at ValuEngine

AmerisourceBergen (NYSE:ABC) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday, ValuEngine reports.

Several other brokerages have also recently issued reports on ABC. TheStreet raised shares of AmerisourceBergen from a “c+” rating to a “b” rating in a report on Thursday, August 1st. Guggenheim began coverage on shares of AmerisourceBergen in a report on Thursday, April 11th. They set a “buy” rating for the company. Zacks Investment Research raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Wednesday, June 12th. Argus cut their price objective on shares of AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a report on Monday, June 3rd. Finally, Bank of America cut shares of AmerisourceBergen from a “buy” rating to an “underperform” rating and cut their price objective for the company from $95.00 to $76.00 in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $88.25.

Shares of AmerisourceBergen stock traded down $4.59 during trading on Tuesday, hitting $84.11. 4,447,696 shares of the company’s stock were exchanged, compared to its average volume of 1,445,988. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 1.40. The firm’s 50-day simple moving average is $86.93. AmerisourceBergen has a 52-week low of $69.36 and a 52-week high of $94.85. The company has a market cap of $17.64 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.63 and a beta of 0.97.

AmerisourceBergen (NYSE:ABC) last issued its earnings results on Thursday, August 1st. The company reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.14. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The firm had revenue of $45.24 billion during the quarter, compared to analysts’ expectations of $45.15 billion. During the same quarter last year, the company posted $1.54 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts forecast that AmerisourceBergen will post 7.01 EPS for the current year.

In other news, insider Dale Danilewitz sold 543 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $81.16, for a total transaction of $44,069.88. Following the completion of the sale, the insider now owns 1,085 shares of the company’s stock, valued at $88,058.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Chou sold 13,997 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.58, for a total transaction of $1,253,851.26. Following the sale, the insider now directly owns 65,782 shares of the company’s stock, valued at approximately $5,892,751.56. The disclosure for this sale can be found here. Insiders sold 191,379 shares of company stock valued at $16,502,190 in the last ninety days. 27.80% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Rational Advisors LLC boosted its holdings in AmerisourceBergen by 1,627.3% in the 1st quarter. Rational Advisors LLC now owns 380 shares of the company’s stock valued at $30,000 after purchasing an additional 358 shares during the last quarter. Riverview Trust Co lifted its holdings in shares of AmerisourceBergen by 127.3% in the 1st quarter. Riverview Trust Co now owns 391 shares of the company’s stock worth $31,000 after acquiring an additional 219 shares during the last quarter. Trust Co. of Vermont lifted its holdings in shares of AmerisourceBergen by 963.8% in the 1st quarter. Trust Co. of Vermont now owns 500 shares of the company’s stock worth $40,000 after acquiring an additional 453 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new position in shares of AmerisourceBergen in the 1st quarter worth approximately $48,000. Finally, Winslow Evans & Crocker Inc. lifted its holdings in shares of AmerisourceBergen by 212.2% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 718 shares of the company’s stock worth $62,000 after acquiring an additional 488 shares during the last quarter. 66.59% 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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