AmerisourceBergen Corp. (ABC) Insider Sells $285,330.00 in Stock
AmerisourceBergen Corp. (NYSE:ABC) insider Peyton R. Howell sold 3,000 shares of AmerisourceBergen stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $95.11, for a total transaction of $285,330.00. Following the transaction, the insider now directly owns 49,189 shares in the company, valued at approximately $4,678,365.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of AmerisourceBergen Corp. (ABC) opened at $98.14 on Friday. The stock has a market cap of $21,400.00, a P/E ratio of 60.58, a PEG ratio of 1.63 and a beta of 0.99. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.83. AmerisourceBergen Corp. has a 1 year low of $71.90 and a 1 year high of $98.14.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.01. The firm had revenue of $39.12 billion for the quarter, compared to analysts’ expectations of $40.10 billion. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 earnings per share. sell-side analysts expect that AmerisourceBergen Corp. will post 6.14 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Sun Life Financial INC raised its position in shares of AmerisourceBergen by 15,000.0% during the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock valued at $114,000 after buying an additional 1,200 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of AmerisourceBergen by 29.0% during the second quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock valued at $157,000 after buying an additional 375 shares during the last quarter. Intl Fcstone Inc. bought a new stake in shares of AmerisourceBergen during the second quarter valued at approximately $201,000. Coastline Trust Co bought a new stake in shares of AmerisourceBergen during the second quarter valued at approximately $203,000. Finally, Pinnacle Associates Ltd. bought a new stake in AmerisourceBergen in the second quarter worth $203,000. Hedge funds and other institutional investors own 67.83% of the company’s stock.
Several brokerages have weighed in on ABC. Zacks Investment Research downgraded shares of AmerisourceBergen from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Leerink Swann set a $105.00 price target on shares of AmerisourceBergen and gave the company a “buy” rating in a report on Tuesday, January 2nd. Needham & Company LLC lifted their price target on shares of AmerisourceBergen from $86.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, November 22nd. Jefferies Group set a $85.00 price target on shares of AmerisourceBergen and gave the company a “hold” rating in a report on Sunday, October 29th. Finally, Royal Bank of Canada began coverage on shares of AmerisourceBergen in a report on Tuesday, September 19th. They set a “sector perform” rating and a $87.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. AmerisourceBergen has a consensus rating of “Buy” and an average price target of $95.96.
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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