AmerisourceBergen (ABC) Reaches New 1-Year High at $99.00
Shares of AmerisourceBergen Corp. (NYSE:ABC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $99.00 and last traded at $99.00, with a volume of 1469300 shares. The stock had previously closed at $98.14.
A number of analysts have recently issued reports on ABC shares. Mizuho set a $92.00 price target on shares of AmerisourceBergen and gave the stock a “hold” rating in a report on Tuesday, October 24th. Zacks Investment Research downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Cowen upgraded shares of AmerisourceBergen from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 10th. Robert W. Baird upgraded shares of AmerisourceBergen from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $89.00 to $96.00 in a report on Thursday, October 5th. Finally, Deutsche Bank assumed coverage on shares of AmerisourceBergen in a report on Monday, December 4th. They issued a “buy” rating and a $97.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $95.96.
The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.48 and a current ratio of 0.91. The company has a market cap of $21,710.00, a price-to-earnings ratio of 61.45, a price-to-earnings-growth ratio of 1.68 and a beta of 0.99.
In other AmerisourceBergen news, Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $76.94, for a total value of $1,642,669.00. Following the completion of the transaction, the chairman now owns 260,226 shares of the company’s stock, valued at approximately $20,021,788.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $74.28, for a total transaction of $861,648.00. Following the completion of the transaction, the chief financial officer now directly owns 40,326 shares of the company’s stock, valued at approximately $2,995,415.28. The disclosure for this sale can be found here. Insiders sold a total of 203,823 shares of company stock valued at $17,145,148 in the last three months. 27.40% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in ABC. Sun Life Financial INC lifted its position in shares of AmerisourceBergen by 15,000.0% during the 2nd quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock worth $114,000 after purchasing an additional 1,200 shares during the last quarter. D.A. Davidson & CO. lifted its position in shares of AmerisourceBergen by 29.0% during the 2nd quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock worth $157,000 after purchasing an additional 375 shares during the last quarter. Intl Fcstone Inc. purchased a new stake in shares of AmerisourceBergen during the 2nd quarter worth $201,000. Zeke Capital Advisors LLC purchased a new stake in shares of AmerisourceBergen during the 3rd quarter worth $210,000. Finally, Roberts Glore & Co. Inc. IL purchased a new stake in shares of AmerisourceBergen during the 3rd quarter worth $219,000. 67.83% of the stock is owned by institutional investors and hedge funds.
AmerisourceBergen Company Profile
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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