Trading Report: The Analysts give average Rating of “Hold” to AmerisourceBergen Corp. (ABC)

The Analysts give average Rating of “Hold” to AmerisourceBergen Corp. (ABC)

Shares of AmerisourceBergen Corp. (NYSE:ABC) have been assigned a consensus rating of “Hold” from the nineteen ratings firms that are covering the firm. Ten equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $95.32.

Several research firms have recently commented on ABC. Cleveland Research downgraded shares of AmerisourceBergen Corp. from a “buy” rating to a “neutral” rating in a research note on Monday. Leerink Swann reiterated a “buy” rating and set a $100.00 price objective on shares of AmerisourceBergen Corp. in a research note on Friday, October 7th. Avondale Partners upgraded shares of AmerisourceBergen Corp. from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 4th. Morgan Stanley reiterated a “hold” rating and set a $89.00 price objective on shares of AmerisourceBergen Corp. in a research note on Monday, September 12th. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $98.00 price objective on shares of AmerisourceBergen Corp. in a research note on Friday, August 26th.

In other news, Director Henry Wadsworth Mcgee III sold 3,351 shares of AmerisourceBergen Corp. stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $82.10, for a total value of $275,117.10. Following the sale, the director now owns 10,901 shares in the company, valued at $894,972.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gina Clark sold 2,247 shares of AmerisourceBergen Corp. stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $89.50, for a total transaction of $201,106.50. Following the completion of the sale, the insider now owns 9,436 shares in the company, valued at approximately $844,522. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in ABC. Creative Planning raised its stake in shares of AmerisourceBergen Corp. by 88.2% in the third quarter. Creative Planning now owns 16,976 shares of the company’s stock valued at $1,371,000 after buying an additional 7,955 shares during the period. Advisory Services Network LLC raised its stake in shares of AmerisourceBergen Corp. by 10.0% in the third quarter. Advisory Services Network LLC now owns 4,750 shares of the company’s stock valued at $384,000 after buying an additional 430 shares during the period. Triangle Securities Wealth Management raised its stake in shares of AmerisourceBergen Corp. by 9.5% in the third quarter. Triangle Securities Wealth Management now owns 7,340 shares of the company’s stock valued at $593,000 after buying an additional 635 shares during the period. Eqis Capital Management Inc. raised its stake in shares of AmerisourceBergen Corp. by 16.3% in the third quarter. Eqis Capital Management Inc. now owns 9,125 shares of the company’s stock valued at $737,000 after buying an additional 1,277 shares during the period. Finally, West Oak Capital LLC raised its stake in shares of AmerisourceBergen Corp. by 0.6% in the third quarter. West Oak Capital LLC now owns 20,195 shares of the company’s stock valued at $1,631,000 after buying an additional 115 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Shares of AmerisourceBergen Corp. (NYSE:ABC) traded up 1.099% on Wednesday, reaching $80.485. 1,182,335 shares of the company traded hands. The stock has a market capitalization of $17.28 billion, a price-to-earnings ratio of 10.857 and a beta of 0.74. AmerisourceBergen Corp. has a 1-year low of $73.31 and a 1-year high of $105.81. The company has a 50-day moving average of $84.02 and a 200-day moving average of $82.91.

AmerisourceBergen Corp. (NYSE:ABC) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.10. AmerisourceBergen Corp. had a net margin of 1.14% and a return on equity of 83.93%. The business earned $36.90 billion during the quarter, compared to the consensus estimate of $36.57 billion. During the same period in the previous year, the firm posted $1.20 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts anticipate that AmerisourceBergen Corp. will post $5.55 earnings per share for the current fiscal year.

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