AmerisourceBergen Corp. (ABC) Shares Down 1.6%
AmerisourceBergen Corp. (NYSE:ABC)’s share price fell 1.6% during mid-day trading on Thursday . The stock traded as low as $86.94 and last traded at $86.96, with a volume of 1,275,972 shares trading hands. The stock had previously closed at $88.39.
Several brokerages recently issued reports on ABC. Leerink Swann reiterated a “buy” rating on shares of AmerisourceBergen Corp. in a research report on Wednesday, August 3rd. Barclays PLC upped their price target on AmerisourceBergen Corp. from $83.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 3rd. Citigroup Inc. upped their price target on AmerisourceBergen Corp. from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Deutsche Bank AG upped their price target on AmerisourceBergen Corp. from $83.00 to $96.00 and gave the stock a “hold” rating in a research report on Wednesday, August 3rd. Finally, FBR & Co upped their price target on AmerisourceBergen Corp. from $84.00 to $90.00 and gave the stock a “mkt perform” rating in a research report on Wednesday, August 3rd. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $97.77.
The stock has a market cap of $18.41 billion and a PE ratio of 11.57. The company’s 50-day moving average price is $86.97 and its 200 day moving average price is $83.69.
AmerisourceBergen Corp. (NYSE:ABC) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.37 EPS for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.10. The business had revenue of $36.90 billion for the quarter, compared to the consensus estimate of $36.57 billion. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 earnings per share. On average, equities research analysts predict that AmerisourceBergen Corp. will post $5.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Monday, August 22nd will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $1.36 dividend on an annualized basis and a yield of 1.59%.
In other AmerisourceBergen Corp. news, Director Lon R. Greenberg purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The shares were acquired at an average cost of $88.59 per share, for a total transaction of $354,360.00. Following the completion of the acquisition, the director now owns 9,500 shares of the company’s stock, valued at approximately $841,605. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gina Clark sold 2,247 shares of AmerisourceBergen Corp. stock in a transaction on Friday, August 5th. The stock was sold at an average price of $89.50, for a total value of $201,106.50. Following the sale, the insider now owns 9,436 shares in the company, valued at $844,522. The disclosure for this sale can be found here.
A number of hedge funds have modified their holdings of ABC. Calvert Investment Management Inc. raised its stake in shares of AmerisourceBergen Corp. by 21.8% in the fourth quarter. Calvert Investment Management Inc. now owns 10,359 shares of the company’s stock worth $1,074,000 after buying an additional 1,851 shares during the period. Trexquant Investment LP raised its stake in shares of AmerisourceBergen Corp. by 409.1% in the fourth quarter. Trexquant Investment LP now owns 11,200 shares of the company’s stock valued at $1,162,000 after buying an additional 9,000 shares during the last quarter. Finally, I.G. Investment Management LTD. raised its stake in shares of AmerisourceBergen Corp. by 26.2% in the fourth quarter. I.G. Investment Management LTD. now owns 30,328 shares of the company’s stock valued at $3,145,000 after buying an additional 6,296 shares during the last quarter.
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company operates through two segments: Pharmaceutical Distribution and Other. The Company also provides data and other services to its manufacturing customers. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers.
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