AmerisourceBergen (NYSE:ABC) was downgraded by equities researchers at TheStreet from a “b” rating to a “c+” rating in a note issued to investors on Thursday, November 7th, TheStreetRatingsTable reports.
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A number of other brokerages have also recently issued reports on ABC. ValuEngine cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Deutsche Bank began coverage on shares of AmerisourceBergen in a report on Thursday, September 12th. They set a “hold” rating and a $91.00 price objective for the company. Finally, Morgan Stanley reduced their price objective on shares of AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $88.86.
Shares of NYSE ABC opened at $87.83 on Thursday. The stock has a market capitalization of $18.10 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.49 and a beta of 0.97. The company has a 50-day moving average price of $87.05 and a 200-day moving average price of $85.12. AmerisourceBergen has a 1 year low of $69.36 and a 1 year high of $94.75. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.95 and a quick ratio of 0.58.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.03. The firm had revenue of $45.64 billion during the quarter, compared to analysts’ expectations of $45.15 billion. AmerisourceBergen had a net margin of 0.48% and a return on equity of 48.84%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the company earned $1.45 earnings per share. As a group, equities research analysts anticipate that AmerisourceBergen will post 7.54 earnings per share for the current fiscal year.
In other AmerisourceBergen news, CEO Steven H. Collis sold 19,905 shares of AmerisourceBergen stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $86.89, for a total value of $1,729,545.45. Following the sale, the chief executive officer now owns 154,484 shares of the company’s stock, valued at $13,423,114.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John G. Chou sold 13,997 shares of AmerisourceBergen stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $86.07, for a total transaction of $1,204,721.79. Insiders have sold 109,506 shares of company stock worth $9,293,253 over the last three months. 27.80% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Maverick Capital Ltd. bought a new stake in AmerisourceBergen in the third quarter worth about $4,931,000. Man Group plc raised its position in AmerisourceBergen by 19.3% in the third quarter. Man Group plc now owns 285,674 shares of the company’s stock worth $23,519,000 after acquiring an additional 46,262 shares during the period. Squarepoint Ops LLC raised its position in AmerisourceBergen by 56.8% in the third quarter. Squarepoint Ops LLC now owns 108,689 shares of the company’s stock worth $8,948,000 after acquiring an additional 39,368 shares during the period. Voloridge Investment Management LLC bought a new stake in AmerisourceBergen in the third quarter worth about $1,402,000. Finally, National Pension Service raised its position in AmerisourceBergen by 5.3% in the third quarter. National Pension Service now owns 234,017 shares of the company’s stock worth $19,267,000 after acquiring an additional 11,742 shares during the period. 65.38% of the stock is currently owned by institutional investors and hedge funds.
AmerisourceBergen Company Profile
AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.
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