AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) Price Target Cut to $86.00 by Analysts at Needham & Company LLC

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) had its price target cut by Needham & Company LLC from $93.00 to $86.00 in a research report sent to investors on Monday, November 6th, Marketbeat.com reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on the company. Leerink Swann set a $90.00 price objective on AmerisourceBergen Corporation (Holding Co) and gave the company a buy rating in a research note on Monday, August 7th. TheStreet lowered AmerisourceBergen Corporation (Holding Co) from a b rating to a c+ rating in a research note on Thursday, August 3rd. BidaskClub lowered AmerisourceBergen Corporation (Holding Co) from a hold rating to a sell rating in a research note on Saturday, August 5th. Jefferies Group LLC set a $85.00 target price on AmerisourceBergen Corporation (Holding Co) and gave the company a hold rating in a report on Sunday, October 29th. Finally, UBS AG reduced their target price on AmerisourceBergen Corporation (Holding Co) from $94.00 to $87.00 and set a neutral rating on the stock in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $90.94.

Shares of AmerisourceBergen Corporation (NYSE ABC) opened at $78.84 on Monday. AmerisourceBergen Corporation has a fifty-two week low of $71.90 and a fifty-two week high of $97.85. The company has a quick ratio of 0.48, a current ratio of 0.91 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $17,274.71, a PE ratio of 13.39, a P/E/G ratio of 1.37 and a beta of 0.95.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last posted its earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.01. The firm had revenue of $39.12 billion during the quarter, compared to analysts’ expectations of $40.10 billion. AmerisourceBergen Corporation (Holding Co) had a return on equity of 55.99% and a net margin of 0.27%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 earnings per share. equities analysts expect that AmerisourceBergen Corporation will post 6.04 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Monday, November 20th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.93%. This is a positive change from AmerisourceBergen Corporation (Holding Co)’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, November 17th. AmerisourceBergen Corporation (Holding Co)’s payout ratio is presently 78.92%.

In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 15,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $79.92, for a total transaction of $1,198,800.00. Following the completion of the transaction, the chairman now owns 253,876 shares in the company, valued at approximately $20,289,769.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dale Danilewitz sold 2,012 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $85.00, for a total value of $171,020.00. The disclosure for this sale can be found here. Insiders sold a total of 99,211 shares of company stock valued at $7,717,919 over the last ninety days. 27.40% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. First Merchants Corp grew its position in AmerisourceBergen Corporation (Holding Co) by 160.5% in the third quarter. First Merchants Corp now owns 27,342 shares of the company’s stock worth $2,262,000 after acquiring an additional 16,848 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in AmerisourceBergen Corporation (Holding Co) by 23.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,459 shares of the company’s stock valued at $369,000 after buying an additional 842 shares during the period. Wedge Capital Management L L P NC boosted its position in AmerisourceBergen Corporation (Holding Co) by 17.3% during the third quarter. Wedge Capital Management L L P NC now owns 494,216 shares of the company’s stock valued at $40,896,000 after buying an additional 72,743 shares during the period. Achmea Investment Management B.V. boosted its position in AmerisourceBergen Corporation (Holding Co) by 7.8% during the second quarter. Achmea Investment Management B.V. now owns 29,338 shares of the company’s stock valued at $2,770,000 after buying an additional 2,123 shares during the period. Finally, Burgundy Asset Management Ltd. boosted its holdings in shares of AmerisourceBergen Corporation (Holding Co) by 3.3% during the second quarter. Burgundy Asset Management Ltd. now owns 2,649,123 shares of the company’s stock worth $250,422,000 after purchasing an additional 84,163 shares during the period. Institutional investors own 66.84% 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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