AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

According to Zacks, “AmerisourceBergen had an impressive run on the bourse over the last one month, trading above the broader industry in terms of price performance. The company faces headwinds due to the slowdown in hepatitis C revenues and conversion of branded drugs to the lower price generics. Furthermore, a temporary slowdown in PharMEDium's growth is expected to mar the company’s bottom line. AmerisourceBergen expects a moderation in growth in fiscal 2017 due to a challenging healthcare landscape, as both healthcare providers and pharmaceutical manufacturers are facing increasing cost pressures. The company operates in a highly competitive pharmaceutical distribution and related health care space. Furthermore, the generic industry is facing consolidation of customers and manufacturers, globalization and increasing quality and regulatory challenges. Added to this, AmerisourceBergen’s expensive valuation multiples pose risk owing to Trump’s unclear policy towards brand pricing.”

ABC has been the topic of a number of other reports. Bank of America Corporation downgraded shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $95.76 to $94.00 in a research report on Friday, June 30th. Leerink Swann set a $90.00 target price on shares of AmerisourceBergen Corporation (Holding Co) and gave the stock a “buy” rating in a research report on Monday, August 7th. Credit Suisse Group reissued a “buy” rating and set a $95.00 target price on shares of AmerisourceBergen Corporation (Holding Co) in a research report on Thursday, July 13th. Morgan Stanley downgraded shares of AmerisourceBergen Corporation (Holding Co) from an “overweight” rating to an “equal weight” rating in a research note on Thursday, September 14th. Finally, BidaskClub downgraded shares of AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $91.86.

AmerisourceBergen Corporation (NYSE:ABC) traded down 0.47% during trading on Tuesday, reaching $82.91. The company had a trading volume of 694,276 shares. The stock has a 50 day moving average price of $80.58 and a 200 day moving average price of $86.95. AmerisourceBergen Corporation has a 52 week low of $68.38 and a 52 week high of $97.85. The firm has a market capitalization of $18.17 billion, a P/E ratio of 21.60 and a beta of 0.96.

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 Thomson Reuters’ consensus estimate of $1.37 by $0.06. AmerisourceBergen Corporation (Holding Co) had a net margin of 0.56% and a return on equity of 56.07%. The business had revenue of $38.71 billion for the quarter, compared to analysts’ expectations of $39.13 billion. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $1.37 earnings per share. Analysts predict that AmerisourceBergen Corporation will post $5.88 earnings per share for the current year.

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In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 15,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction on Friday, September 1st. The stock was sold at an average price of $79.92, for a total transaction of $1,198,800.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peyton R. Howell sold 20,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $80.00, for a total value of $1,600,000.00. Following the sale, the insider now directly owns 57,135 shares in the company, valued at approximately $4,570,800. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,116 shares of company stock worth $4,083,875. Corporate insiders own 27.40% of the company’s stock.

Several large investors have recently modified their holdings of the company. Parallel Advisors LLC raised its stake in shares of AmerisourceBergen Corporation (Holding Co) by 3.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after buying an additional 34 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in shares of AmerisourceBergen Corporation (Holding Co) in the first quarter valued at $105,000. American Beacon Advisors Inc. acquired a new stake in shares of AmerisourceBergen Corporation (Holding Co) in the first quarter valued at $108,000. SRS Capital Advisors Inc. lifted its holdings in shares of AmerisourceBergen Corporation (Holding Co) by 0.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,235 shares of the company’s stock valued at $109,000 after buying an additional 4 shares during the period. Finally, Sun Life Financial INC lifted its holdings in shares of AmerisourceBergen Corporation (Holding Co) by 15,000.0% in 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 period. 67.64% of the stock is owned by institutional investors.

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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