Citigroup initiated coverage on shares of AmerisourceBergen (NYSE:ABC – Get Rating) in a research note issued to investors on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $185.00 price target on the stock. Citigroup’s price target would indicate a potential upside of 16.10% from the stock’s current price.
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Several other analysts have also weighed in on the company. Robert W. Baird increased their price target on AmerisourceBergen from $199.00 to $201.00 and gave the company an “outperform” rating in a report on Thursday, February 2nd. Evercore ISI restated an “outperform” rating and set a $185.00 price target on shares of AmerisourceBergen in a report on Tuesday, January 31st. UBS Group increased their price target on AmerisourceBergen from $184.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, January 31st. TheStreet downgraded AmerisourceBergen from a “b-” rating to a “c” rating in a research report on Monday, March 6th. Finally, Mizuho upped their price objective on AmerisourceBergen from $162.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AmerisourceBergen currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.46.
AmerisourceBergen Stock Up 0.2 %
Shares of ABC opened at $159.34 on Friday. The stock has a market capitalization of $32.23 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 1.54 and a beta of 0.54. AmerisourceBergen has a 1 year low of $135.14 and a 1 year high of $174.63. The business’s 50 day simple moving average is $157.30 and its 200-day simple moving average is $156.54. The company has a debt-to-equity ratio of 63.30, a current ratio of 0.91 and a quick ratio of 0.53.
AmerisourceBergen (NYSE:ABC – Get Rating) last issued its quarterly earnings data on Wednesday, February 1st. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.09. AmerisourceBergen had a return on equity of 597.57% and a net margin of 0.72%. The business had revenue of $62.85 billion for the quarter, compared to analysts’ expectations of $62.77 billion. During the same period in the prior year, the firm earned $2.58 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities analysts expect that AmerisourceBergen will post 11.61 earnings per share for the current fiscal year.
Insider Transactions at AmerisourceBergen
In other news, EVP Gina Clark sold 1,924 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $156.22, for a total value of $300,567.28. Following the completion of the sale, the executive vice president now directly owns 26,733 shares of the company’s stock, valued at approximately $4,176,229.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Lazarus Krikorian sold 5,711 shares of the stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $155.82, for a total transaction of $889,888.02. Following the completion of the transaction, the chief accounting officer now directly owns 18,732 shares of the company’s stock, valued at approximately $2,918,820.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gina Clark sold 1,924 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $156.22, for a total value of $300,567.28. Following the completion of the sale, the executive vice president now owns 26,733 shares in the company, valued at approximately $4,176,229.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,633 shares of company stock valued at $4,490,081. 20.10% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On AmerisourceBergen
A number of institutional investors and hedge funds have recently modified their holdings of the company. RFP Financial Group LLC acquired a new stake in shares of AmerisourceBergen during the fourth quarter worth $25,000. Boyd Watterson Asset Management LLC OH acquired a new stake in shares of AmerisourceBergen during the fourth quarter valued at about $29,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of AmerisourceBergen during the fourth quarter valued at about $39,000. Iron Horse Wealth Management LLC acquired a new stake in shares of AmerisourceBergen during the fourth quarter valued at about $41,000. Finally, MBM Wealth Consultants LLC acquired a new position in AmerisourceBergen in the fourth quarter worth about $41,000. Institutional investors and hedge funds own 84.79% of the company’s stock.
About AmerisourceBergen
AmerisourceBergen Corp. engages in the provision of pharmaceutical products and business solutions that improve access to care. It operates through the Pharmaceutical Distribution Services and Other segments. The Pharmaceutical Distribution Services segment distributes an offering of brand-name, specialty brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, and long-term care and alternate site pharmacies.
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