AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating in a research report issued to clients and investors on Thursday.

Several other equities research analysts have also weighed in on the stock. Zacks Investment Research raised shares of AmerisourceBergen Corporation (Holding Co) from a “sell” rating to a “hold” rating in a report on Friday. UBS AG lowered their target price on shares of AmerisourceBergen Corporation (Holding Co) from $94.00 to $87.00 and set a “neutral” rating on the stock in a report on Friday. BidaskClub lowered shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Credit Suisse Group reaffirmed a “buy” rating and issued a $95.00 target price on shares of AmerisourceBergen Corporation (Holding Co) in a report on Thursday, July 13th. Finally, Bank of America Corporation lowered shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $95.76 to $94.00 in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $93.64.

Shares of AmerisourceBergen Corporation (NYSE ABC) traded down 1.08% during mid-day trading on Thursday, reaching $80.83. 2,882,893 shares of the company traded hands. AmerisourceBergen Corporation has a 52-week low of $68.38 and a 52-week high of $97.85. The stock has a market capitalization of $17.65 billion, a PE ratio of 15.69 and a beta of 0.91. The stock’s 50 day moving average is $93.75 and its 200 day moving average is $89.47.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last posted its earnings results on Thursday, August 3rd. The company reported $1.43 earnings per share 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 analyst estimates of $39.13 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts anticipate that AmerisourceBergen Corporation will post $5.87 earnings per share for the current year.

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In related news, Chairman Steven H. Collis sold 15,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $91.73, for a total transaction of $1,375,950.00. Following the transaction, the chairman now owns 253,876 shares in the company, valued at approximately $23,288,045.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 27.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in AmerisourceBergen Corporation (Holding Co) by 4.0% in the first quarter. Vanguard Group Inc. now owns 15,348,617 shares of the company’s stock worth $1,358,352,000 after buying an additional 587,779 shares during the last quarter. BlackRock Inc. increased its position in AmerisourceBergen Corporation (Holding Co) by 1,139.3% in the first quarter. BlackRock Inc. now owns 12,673,530 shares of the company’s stock worth $1,121,608,000 after buying an additional 11,650,881 shares during the last quarter. Fiduciary Management Inc. WI increased its position in AmerisourceBergen Corporation (Holding Co) by 11.2% in the first quarter. Fiduciary Management Inc. WI now owns 6,151,621 shares of the company’s stock worth $544,418,000 after buying an additional 617,723 shares during the last quarter. JPMorgan Chase & Co. increased its position in AmerisourceBergen Corporation (Holding Co) by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 3,106,108 shares of the company’s stock worth $274,889,000 after buying an additional 293,229 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in AmerisourceBergen Corporation (Holding Co) by 7.6% in the first quarter. Bank of New York Mellon Corp now owns 3,063,289 shares of the company’s stock worth $271,101,000 after buying an additional 216,204 shares during the last quarter. Institutional investors own 68.82% 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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