AmerisourceBergen (NYSE:ABC) has been assigned a $90.00 price objective by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday. The brokerage presently has a “hold” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 0.93% from the stock’s current price.
ABC has been the subject of a number of other research reports. Zacks Investment Research cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Robert W. Baird cut shares of AmerisourceBergen from an “outperform” rating to a “neutral” rating in a report on Friday, July 20th. ValuEngine cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Finally, Mizuho reaffirmed a “neutral” rating on shares of AmerisourceBergen in a report on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $101.07.
NYSE ABC opened at $89.17 on Wednesday. The firm has a market capitalization of $18.17 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 1.23 and a beta of 0.97. AmerisourceBergen has a 12-month low of $74.05 and a 12-month high of $106.27. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.93 and a quick ratio of 0.51.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.01. The business had revenue of $43.30 billion during the quarter, compared to analysts’ expectations of $43.27 billion. AmerisourceBergen had a net margin of 0.99% and a return on equity of 45.54%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $1.33 earnings per share. As a group, equities analysts anticipate that AmerisourceBergen will post 6.8 earnings per share for the current year.
In related news, insider Kathy H. Gaddes sold 2,652 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $87.71, for a total transaction of $232,606.92. Following the completion of the transaction, the insider now owns 3,891 shares of the company’s stock, valued at $341,279.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John G. Chou sold 6,974 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $83.94, for a total transaction of $585,397.56. Following the transaction, the executive vice president now directly owns 56,126 shares of the company’s stock, valued at approximately $4,711,216.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,928 shares of company stock valued at $8,332,406. 27.30% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of the stock. Capital Wealth Planning LLC grew its position in AmerisourceBergen by 412.1% during the second quarter. Capital Wealth Planning LLC now owns 12,577 shares of the company’s stock valued at $1,072,000 after buying an additional 10,121 shares during the period. Sio Capital Management LLC acquired a new stake in AmerisourceBergen during the second quarter valued at $1,180,000. Intrepid Capital Management Inc. grew its position in AmerisourceBergen by 7.1% during the second quarter. Intrepid Capital Management Inc. now owns 157,485 shares of the company’s stock valued at $13,429,000 after buying an additional 10,495 shares during the period. Toronto Dominion Bank grew its position in AmerisourceBergen by 14.8% during the second quarter. Toronto Dominion Bank now owns 132,971 shares of the company’s stock valued at $11,337,000 after buying an additional 17,141 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in AmerisourceBergen by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 849,688 shares of the company’s stock valued at $72,459,000 after buying an additional 23,216 shares during the period. 66.19% 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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