AmerisourceBergen (NYSE:ABC) had its target price lowered by equities researchers at Argus from $115.00 to $100.00 in a research note issued to investors on Monday, MarketBeat reports. The brokerage presently has a “buy” rating on the stock. Argus’ price objective would suggest a potential upside of 21.64% from the stock’s previous close.

ABC has been the subject of several other research reports. ValuEngine raised AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Zacks Investment Research raised AmerisourceBergen from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, May 14th. Guggenheim began coverage on AmerisourceBergen in a research note on Thursday, April 11th. They set a “buy” rating for the company. Finally, TheStreet lowered AmerisourceBergen from a “b” rating to a “c+” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. AmerisourceBergen presently has a consensus rating of “Hold” and an average target price of $87.89.

Shares of AmerisourceBergen stock traded up $1.84 during trading hours on Monday, reaching $82.21. The company had a trading volume of 1,891,500 shares, compared to its average volume of 1,480,315. AmerisourceBergen has a one year low of $69.36 and a one year high of $94.88. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.95 and a quick ratio of 0.56. The firm has a market capitalization of $16.36 billion, a P/E ratio of 12.67, a PEG ratio of 1.51 and a beta of 0.91.

AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $2.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.15. AmerisourceBergen had a return on equity of 46.24% and a net margin of 0.53%. The firm had revenue of $43.32 billion during the quarter, compared to analyst estimates of $43.44 billion. During the same period last year, the company earned $1.94 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts expect that AmerisourceBergen will post 6.83 earnings per share for the current fiscal year.

In other news, CFO James F. Cleary, Jr. purchased 2,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average price of $77.52 per share, with a total value of $155,040.00. Following the completion of the purchase, the chief financial officer now directly owns 7,306 shares in the company, valued at approximately $566,361.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Dale Danilewitz sold 5,702 shares of AmerisourceBergen stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $77.02, for a total value of $439,168.04. Following the sale, the insider now directly owns 8,416 shares of the company’s stock, valued at approximately $648,200.32. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 2,018 shares of company stock valued at $156,471 and have sold 49,009 shares valued at $3,901,956. Insiders own 27.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc lifted its stake in AmerisourceBergen by 0.4% during the third quarter. Vanguard Group Inc now owns 16,019,657 shares of the company’s stock worth $1,477,332,000 after purchasing an additional 63,935 shares during the last quarter. FMR LLC lifted its stake in AmerisourceBergen by 51.7% during the fourth quarter. FMR LLC now owns 7,263,899 shares of the company’s stock worth $540,434,000 after purchasing an additional 2,474,112 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in AmerisourceBergen by 6,614.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,448,589 shares of the company’s stock worth $46,000 after purchasing an additional 3,397,228 shares during the last quarter. Victory Capital Management Inc. lifted its stake in AmerisourceBergen by 4.9% during the first quarter. Victory Capital Management Inc. now owns 2,523,629 shares of the company’s stock worth $200,679,000 after purchasing an additional 116,808 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in AmerisourceBergen by 14.4% during the first quarter. Northern Trust Corp now owns 2,433,611 shares of the company’s stock worth $193,521,000 after purchasing an additional 306,161 shares during the last quarter. 66.55% 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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Analyst Recommendations for AmerisourceBergen (NYSE:ABC)

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