AmerisourceBergen (NYSE:ABC) had its target price raised by Morgan Stanley from $88.00 to $91.00 in a report issued on Monday morning. The brokerage currently has an equal weight rating on the stock.

A number of other equities analysts have also recently issued reports on ABC. ValuEngine upgraded shares of AmerisourceBergen from a sell rating to a hold rating in a research note on Wednesday, August 15th. Mizuho restated a hold rating and issued a $90.00 price objective on shares of AmerisourceBergen in a research note on Sunday, August 12th. Zacks Investment Research upgraded shares of AmerisourceBergen from a sell rating to a hold rating in a research note on Thursday, November 22nd. Finally, Royal Bank of Canada set a $90.00 price objective on shares of AmerisourceBergen and gave the company a hold rating in a research note on Wednesday, November 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $101.36.

Shares of AmerisourceBergen stock opened at $85.98 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.93 and a debt-to-equity ratio of 1.48. AmerisourceBergen has a fifty-two week low of $77.28 and a fifty-two week high of $106.27. The firm has a market capitalization of $18.57 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 1.40 and a beta of 0.94.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.01. AmerisourceBergen had a net margin of 0.99% and a return on equity of 45.54%. The firm had revenue of $43.30 billion during the quarter, compared to the consensus estimate of $43.27 billion. During the same period in the prior year, the firm earned $1.33 EPS. The business’s revenue was up 10.7% on a year-over-year basis. On average, equities research analysts expect that AmerisourceBergen will post 6.81 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Monday, November 19th were paid a $0.40 dividend. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, November 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.86%. AmerisourceBergen’s dividend payout ratio is currently 24.65%.

In related news, Chairman Steven H. Collis sold 21,350 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $93.09, for a total transaction of $1,987,471.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lazarus Krikorian sold 20,276 shares of the stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $90.37, for a total transaction of $1,832,342.12. Following the sale, the insider now owns 28,419 shares of the company’s stock, valued at approximately $2,568,225.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 142,753 shares of company stock valued at $12,826,784. Corporate insiders own 27.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of AmerisourceBergen by 140.9% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,142 shares of the company’s stock worth $105,000 after purchasing an additional 668 shares in the last quarter. Financial Gravity Wealth Inc. increased its position in shares of AmerisourceBergen by 93.2% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock worth $108,000 after purchasing an additional 605 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of AmerisourceBergen during the 3rd quarter worth about $120,000. Centaurus Financial Inc. acquired a new stake in shares of AmerisourceBergen during the 2nd quarter worth about $129,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of AmerisourceBergen during the 3rd quarter worth about $130,000. Institutional investors and hedge funds own 64.58% of the company’s stock.

About AmerisourceBergen

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.

Further Reading: Quiet Period

Analyst Recommendations for AmerisourceBergen (NYSE:ABC)

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