AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) Upgraded to “Outperform” at Robert W. Baird

Robert W. Baird upgraded shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) from a neutral rating to an outperform rating in a research note published on Thursday, October 5th, MarketBeat.com reports. Robert W. Baird currently has $96.00 price target on the stock, up from their previous price target of $89.00.

ABC has been the topic of several other research reports. Zacks Investment Research downgraded AmerisourceBergen Corporation (Holding Co) from a hold rating to a sell rating in a research note on Monday, July 10th. Bank of America Corporation cut shares of AmerisourceBergen Corporation (Holding Co) from a buy rating to a neutral rating and lowered their target price for the company from $95.76 to $94.00 in a report on Friday, June 30th. Leerink Swann set a $90.00 target price on shares of AmerisourceBergen Corporation (Holding Co) and gave the company a buy rating in a report on Monday, August 7th. Credit Suisse Group reissued a buy rating and set a $95.00 target price on shares of AmerisourceBergen Corporation (Holding Co) in a report on Thursday, July 13th. Finally, Morgan Stanley cut shares of AmerisourceBergen Corporation (Holding Co) from an overweight rating to an equal weight rating in a report on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. AmerisourceBergen Corporation (Holding Co) presently has a consensus rating of Hold and a consensus price target of $91.95.

Shares of AmerisourceBergen Corporation (NYSE ABC) opened at 79.00 on Thursday. The company has a market capitalization of $17.31 billion, a PE ratio of 20.58 and a beta of 0.96. The firm has a 50-day moving average price of $81.13 and a 200-day moving average price of $86.56. AmerisourceBergen Corporation has a 1-year low of $68.38 and a 1-year high of $97.85.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.37 by $0.06. AmerisourceBergen Corporation (Holding Co) had a return on equity of 56.07% and a net margin of 0.56%. The business had revenue of $38.71 billion for the quarter, compared to the consensus estimate of $39.13 billion. During the same quarter in the prior year, the business earned $1.37 earnings per share. AmerisourceBergen Corporation (Holding Co)’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts anticipate that AmerisourceBergen Corporation will post $5.88 earnings per share for the current year.

WARNING: “AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) Upgraded to “Outperform” at Robert W. Baird” was originally reported by BBNS and is the property of of BBNS. If you are reading this news story on another domain, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this news story can be viewed at https://baseballnewssource.com/markets/amerisourcebergen-corporation-holding-co-abc-raised-to-outperform-at-robert-w-baird/1698206.html.

In related news, insider Peyton R. Howell sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $80.00, for a total value of $1,600,000.00. Following the sale, the insider now owns 57,135 shares in the company, valued at $4,570,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $79.47, for a total transaction of $921,852.00. The disclosure for this sale can be found here. Insiders have sold 64,728 shares of company stock valued at $5,215,143 in the last ninety days. Insiders own 27.40% of the company’s stock.

Several institutional investors have recently modified their holdings of ABC. Parallel Advisors LLC boosted its stake in shares of AmerisourceBergen Corporation (Holding Co) by 3.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after acquiring an additional 34 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new position in shares of AmerisourceBergen Corporation (Holding Co) during the 1st quarter worth $105,000. American Beacon Advisors Inc. purchased a new position in shares of AmerisourceBergen Corporation (Holding Co) during the 1st quarter valued at $108,000. SRS Capital Advisors Inc. increased its holdings in shares of AmerisourceBergen Corporation (Holding Co) by 0.3% in the 1st quarter. SRS Capital Advisors Inc. now owns 1,235 shares of the company’s stock worth $109,000 after buying an additional 4 shares during the last quarter. Finally, Sun Life Financial INC increased its holdings in shares of AmerisourceBergen Corporation (Holding Co) by 15,000.0% in the 2nd quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock worth $114,000 after buying an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 67.69% of the company’s stock.

AmerisourceBergen Corporation (Holding Co) Company Profile

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)

Receive News & Ratings for AmerisourceBergen Corporation (Holding Co) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen Corporation (Holding Co) and related companies with our FREE daily email newsletter.

 


Latest News

Houston Astros Relying on Justin Verlander to Save Their Season
Houston Astros Relying on Justin Verlander to Save Their Season
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Aaron Judge and Gary Sanchez Have Break Out Games
Aaron Judge and Gary Sanchez Have Break Out Games
Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends
PED Use Cost Alex Rodriguez Millions and His Reputation
PED Use Cost Alex Rodriguez Millions and His Reputation
Yankees to Send Masahiro Tanaka Against Astros in Game 1
Yankees to Send Masahiro Tanaka Against Astros in Game 1


Leave a Reply

 
© 2006-2017 BBNS.