Shares of AmerisourceBergen Co. (NYSE: ABC – Get Rating) received a consensus “moderate buy” recommendation from the fourteen research firms that cover the stock, reports MarketBeat Ratings. Two research analysts rated the stock with a hold recommendation, six gave the company a buy recommendation and one gave the company a strong buy recommendation. The 12-month average price target among analysts who have covered the stock over the past year is $173.55.
A number of research companies have weighed in on ABC. Cowen lowered his price target on AmerisourceBergen shares from $171.00 to $170.00 and set an “outperform” rating on the stock in a Thursday, June 9 research note. Deutsche Bank Aktiengesellschaft upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and raised its share price target from $167.00 to $178.00 in a Tuesday, June 7 research note . Morgan Stanley raised its price target on AmerisourceBergen shares from $175.00 to $176.00 and gave the company an “equal weight” rating in a Monday, August 22 research report. StockNews.com upgraded AmerisourceBergen shares from a “buy” rating to a “strong buy” rating in a Tuesday, Aug. 9 research note. Finally, UBS Group raised its price target on AmerisourceBergen shares from $144.00 to $174.00 and gave the stock a “buy” rating in a Monday, June 13 report.
AmerisourceBergen stock up 0.5%
NYSE ABC shares opened at $140.55 on Friday. AmerisourceBergen has a 52-week low of $113.68 and a 52-week high of $167.19. The company has a quick ratio of 0.55, a current ratio of 0.92 and a debt ratio of 8.96. The company’s 50-day simple moving average is $145.12 and its 200-day simple moving average is $149.25. The company has a market capitalization of $29.13 billion, a price-to-earnings ratio of 16.12, a growth price-to-earnings ratio of 1.55 and a beta of 0.46.
AmerisourceBergen (NYSE:ABC – Get Rating) last released quarterly earnings data on Wednesday, August 3. The company reported EPS of $2.62 for the quarter, beating the consensus estimate of $2.56 by $0.06. AmerisourceBergen had a return on equity of 350.60% and a net margin of 0.78%. The company posted revenue of $60.06 billion in the quarter, versus analyst estimates of $59.03 billion. During the same period of the previous year, the company achieved EPS of $2.16. AmerisourceBergen’s quarterly revenue increased 12.5% year over year. Stock analysts predict AmerisourceBergen will post 11 EPS for the current fiscal year.
AmerisourceBergen Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, August 29. Shareholders of record on Monday August 15 received a dividend of $0.46 per share. This represents a dividend of $1.84 on an annualized basis and a yield of 1.31%. The ex-dividend date was Friday, August 12. AmerisourceBergen’s dividend payout ratio (DPR) is 21.10%.
Insider Trading at AmerisourceBergen
Separately, CEO Steven H. Collis sold 11,480 shares in a trade dated Tuesday, September 13. The stock was sold at an average price of $142.40, for a total transaction of $1,634,752.00. As a result of the transaction, the CEO now owns 205,178 shares of the company, valued at approximately $29,217,347.20. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. Insiders sold a total of 34,440 shares of the company worth $4,924,920 in the past ninety days. Insiders of the company hold 28.40% of the shares of the company.
Institutional investors weigh in on AmerisourceBergen
Several large investors have recently increased or reduced their stake in the company. Federated Hermes Inc. increased its position in AmerisourceBergen by 37.2% in the second quarter. Federated Hermes Inc. now owns 1,868 shares of the company valued at $264,000 after purchasing an additional 506 shares during the period. Brown Advisory Inc. increased its stake in AmerisourceBergen by 6.7% in the second quarter. Brown Advisory Inc. now owns 225,576 shares of the company valued at $31,915,000 after purchasing an additional 14,217 shares during the period. Amundi increased its stake in AmerisourceBergen by 83.9% in the 2nd quarter. Amundi now owns 1,283,724 shares of the company worth $179,118,000 after purchasing an additional 585,778 shares last quarter. Verition Fund Management LLC purchased a new stake in AmerisourceBergen during Q2 for approximately $4,099,000. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in AmerisourceBergen in Q2 valued at approximately $958,000. 64.17% of the shares are held by hedge funds and other institutional investors.
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AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes branded and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment and related services to various healthcare providers, including care hospitals health assets and systems, independent and chain retail pharmacies, mail-order product pharmacies, medical clinics, long-term care pharmacies and alternative locations, and other customers.
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