ValuEngine upgraded shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) from a hold rating to a buy rating in a research report released on Tuesday morning.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of AmerisourceBergen Corporation (Holding Co) from a sell rating to a hold rating in a research report on Friday, August 4th. Leerink Swann set a $90.00 target price on shares of AmerisourceBergen Corporation (Holding Co) and gave the company a buy rating in a research report on Monday, August 7th. Needham & Company LLC set a $93.00 target price on shares of AmerisourceBergen Corporation (Holding Co) and gave the company a buy rating in a research report on Tuesday, October 24th. BidaskClub downgraded shares of AmerisourceBergen Corporation (Holding Co) from a hold rating to a sell rating in a research report on Saturday, August 5th. Finally, TheStreet downgraded shares of AmerisourceBergen Corporation (Holding Co) from a b rating to a c+ rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and an average price target of $91.13.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.01. AmerisourceBergen Corporation (Holding Co) had a net margin of 0.56% and a return on equity of 56.07%. The company had revenue of $39.12 billion during the quarter, compared to analyst estimates of $40.10 billion. During the same quarter last year, the business posted $1.30 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis.

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In other news, Chairman Steven H. Collis sold 15,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $79.92, for a total value of $1,198,800.00. Following the transaction, the chairman now owns 253,876 shares of the company’s stock, valued at approximately $20,289,769.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Tim G. Guttman sold 11,600 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $79.47, for a total transaction of $921,852.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,078 shares of company stock worth $6,857,812. Insiders own 27.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in AmerisourceBergen Corporation (Holding Co) by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 15,653,245 shares of the company’s stock worth $1,479,701,000 after purchasing an additional 304,628 shares in the last quarter. Franklin Resources Inc. boosted its stake in AmerisourceBergen Corporation (Holding Co) by 23.1% in the 2nd quarter. Franklin Resources Inc. now owns 3,902,289 shares of the company’s stock worth $368,884,000 after purchasing an additional 731,466 shares in the last quarter. FIL Ltd boosted its stake in AmerisourceBergen Corporation (Holding Co) by 14.4% in the 2nd quarter. FIL Ltd now owns 3,477,157 shares of the company’s stock worth $328,696,000 after purchasing an additional 437,132 shares in the last quarter. Wells Fargo & Company MN boosted its stake in AmerisourceBergen Corporation (Holding Co) by 42.9% in the 2nd quarter. Wells Fargo & Company MN now owns 3,344,441 shares of the company’s stock worth $316,149,000 after purchasing an additional 1,003,327 shares in the last quarter. Finally, Burgundy Asset Management Ltd. boosted its stake in AmerisourceBergen Corporation (Holding Co) by 3.3% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,649,123 shares of the company’s stock worth $250,422,000 after purchasing an additional 84,163 shares in the last quarter. Institutional investors own 67.49% of the company’s stock.

About AmerisourceBergen Corporation (Holding Co)

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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Analyst Recommendations for AmerisourceBergen Corporation (Holding Co) (NYSE:ABC)

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