Robert W. Baird upgraded shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) from a neutral rating to an outperform rating in a research report sent to investors on Thursday morning, Marketbeat reports. They currently have $96.00 target price on the stock, up from their previous target price of $89.00.

A number of other research firms have also recently issued reports on ABC. Jefferies Group LLC set a $95.00 target price on AmerisourceBergen Corporation (Holding Co) and gave the stock a hold rating in a report on Tuesday, August 29th. Needham & Company LLC reiterated a buy rating and set a $91.00 target price on shares of AmerisourceBergen Corporation (Holding Co) in a report on Sunday, September 10th. UBS AG lowered their target price on AmerisourceBergen Corporation (Holding Co) from $94.00 to $87.00 and set a neutral rating for the company in a report on Friday, August 4th. BidaskClub cut AmerisourceBergen Corporation (Holding Co) from a buy rating to a hold rating in a report on Monday, July 24th. Finally, ValuEngine cut AmerisourceBergen Corporation (Holding Co) from a buy rating to a hold rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. AmerisourceBergen Corporation (Holding Co) currently has an average rating of Hold and an average price target of $91.95.

AmerisourceBergen Corporation (NYSE:ABC) opened at 80.48 on Thursday. The stock has a market cap of $17.63 billion, a P/E ratio of 20.97 and a beta of 0.96. AmerisourceBergen Corporation has a 52 week low of $68.38 and a 52 week high of $97.85. The firm has a 50-day moving average price of $80.87 and a 200-day moving average price of $86.82.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last released its earnings results on Thursday, August 3rd. The company reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.06. The firm had revenue of $38.71 billion during the quarter, compared to analysts’ expectations of $39.13 billion. AmerisourceBergen Corporation (Holding Co) had a return on equity of 56.07% and a net margin of 0.56%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 EPS. On average, equities research analysts predict that AmerisourceBergen Corporation will post $5.88 EPS for the current year.

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In other news, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $79.47, for a total value of $921,852.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gina Clark sold 1,273 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $80.94, for a total value of $103,036.62. Following the completion of the transaction, the insider now owns 10,830 shares of the company’s stock, valued at approximately $876,580.20. The disclosure for this sale can be found here. Insiders sold a total of 62,716 shares of company stock valued at $5,044,123 in the last 90 days. 27.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of ABC. BlackRock Inc. grew its holdings in AmerisourceBergen Corporation (Holding Co) by 1,139.3% during the first quarter. BlackRock Inc. now owns 12,673,530 shares of the company’s stock worth $1,121,608,000 after purchasing an additional 11,650,881 shares during the period. FIL Ltd bought a new position in AmerisourceBergen Corporation (Holding Co) during the first quarter worth about $269,043,000. Janus Henderson Group PLC grew its holdings in AmerisourceBergen Corporation (Holding Co) by 660.8% during the second quarter. Janus Henderson Group PLC now owns 2,574,746 shares of the company’s stock worth $243,392,000 after purchasing an additional 2,236,319 shares during the period. Bank of America Corp DE grew its holdings in AmerisourceBergen Corporation (Holding Co) by 97.7% during the first quarter. Bank of America Corp DE now owns 2,482,557 shares of the company’s stock worth $219,707,000 after purchasing an additional 1,227,051 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in AmerisourceBergen Corporation (Holding Co) by 42.9% during the second 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 during the period. Institutional investors and hedge funds own 67.64% 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.

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

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