A number of other research analysts have also recently commented on ABC. Robert W. Baird restated a neutral rating and issued a $94.00 price target on shares of AmerisourceBergen in a report on Friday, July 20th. Mizuho restated a hold rating and issued a $90.00 price target on shares of AmerisourceBergen in a report on Sunday, August 12th. ValuEngine cut shares of AmerisourceBergen from a hold rating to a sell rating in a report on Wednesday, September 12th. Finally, Zacks Investment Research cut shares of AmerisourceBergen from a hold rating to a sell rating in a report on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $101.07.
ABC stock traded down $0.31 during mid-day trading on Wednesday, reaching $88.86. 1,129,156 shares of the stock traded hands, compared to its average volume of 1,534,960. The company has a quick ratio of 0.51, a current ratio of 0.93 and a debt-to-equity ratio of 1.36. AmerisourceBergen has a one year low of $74.05 and a one year high of $106.27. The stock has a market capitalization of $18.72 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 1.29 and a beta of 0.97.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 19th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 16th. This is a boost from AmerisourceBergen’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.80%. AmerisourceBergen’s dividend payout ratio is presently 23.42%.
In related news, insider Kathy H. Gaddes sold 2,652 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $87.71, for a total value of $232,606.92. Following the completion of the sale, the insider now directly owns 3,891 shares of the company’s stock, valued at $341,279.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steven H. Collis sold 21,350 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $88.33, for a total transaction of $1,885,845.50. Following the completion of the sale, the chief executive officer now directly owns 287,925 shares of the company’s stock, valued at $25,432,415.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,928 shares of company stock valued at $8,332,406. 27.30% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board lifted its stake in AmerisourceBergen by 90.4% in the third quarter. Canada Pension Plan Investment Board now owns 460,239 shares of the company’s stock worth $42,443,000 after acquiring an additional 218,500 shares during the period. FMR LLC lifted its stake in AmerisourceBergen by 7.4% in the third quarter. FMR LLC now owns 4,789,787 shares of the company’s stock worth $441,714,000 after acquiring an additional 329,771 shares during the period. American International Group Inc. lifted its stake in AmerisourceBergen by 5.3% in the third quarter. American International Group Inc. now owns 58,945 shares of the company’s stock worth $5,436,000 after acquiring an additional 2,957 shares during the period. BlackRock Inc. lifted its stake in AmerisourceBergen by 4.3% in the third quarter. BlackRock Inc. now owns 13,324,749 shares of the company’s stock worth $1,228,809,000 after acquiring an additional 548,296 shares during the period. Finally, Martingale Asset Management L P lifted its position in shares of AmerisourceBergen by 210.6% during the third quarter. Martingale Asset Management L P now owns 18,226 shares of the company’s stock valued at $1,681,000 after buying an additional 12,358 shares during the last quarter. 66.19% of the stock is owned by institutional investors.
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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