AmerisourceBergen Corporation (Holding Co)’s (NYSE:ABC) Buy Rating Reiterated at Credit Suisse Group

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC)‘s stock had its “buy” rating reiterated by equities researchers at Credit Suisse Group in a note issued to investors on Thursday, July 13th. They currently have a $95.00 price objective on the stock. Credit Suisse Group’s price target suggests a potential upside of 18.26% from the stock’s current price.

Several other research firms also recently weighed in on ABC. Bank of America Corporation downgraded shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $95.76 to $94.00 in a research report on Friday, June 30th. Jefferies Group LLC reiterated a “hold” rating and issued a $95.00 price target on shares of AmerisourceBergen Corporation (Holding Co) in a research report on Wednesday, June 21st. Zacks Investment Research downgraded shares of AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. BidaskClub upgraded shares of AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Mizuho raised their price objective on shares of AmerisourceBergen Corporation (Holding Co) from $83.00 to $93.00 and gave the company a “neutral” rating in a research report on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $93.14.

Shares of AmerisourceBergen Corporation (NYSE ABC) opened at 80.33 on Thursday. The company has a market capitalization of $17.54 billion, a price-to-earnings ratio of 15.59 and a beta of 0.91. The stock has a 50 day moving average price of $92.96 and a 200-day moving average price of $89.37. AmerisourceBergen Corporation has a one year low of $68.38 and a one year high of $97.85.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last released its quarterly earnings results on Thursday, August 3rd. The company reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.06. AmerisourceBergen Corporation (Holding Co) had a net margin of 0.56% and a return on equity of 56.07%. The business had revenue of $38.71 billion for the quarter, compared to the consensus estimate of $39.13 billion. During the same period last year, the firm earned $1.37 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts expect that AmerisourceBergen Corporation will post $5.88 EPS for the current year.

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In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 15,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $94.76, for a total value of $1,421,400.00. Following the completion of the transaction, the chairman now directly owns 253,876 shares of the company’s stock, valued at approximately $24,057,289.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 27.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its position in AmerisourceBergen Corporation (Holding Co) by 3.2% in the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after buying an additional 34 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new position in AmerisourceBergen Corporation (Holding Co) during the first quarter worth approximately $105,000. American Beacon Advisors Inc. purchased a new position in AmerisourceBergen Corporation (Holding Co) during the first quarter worth approximately $108,000. SRS Capital Advisors Inc. boosted its position in AmerisourceBergen Corporation (Holding Co) by 0.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,235 shares of the company’s stock worth $109,000 after buying an additional 4 shares in the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in AmerisourceBergen Corporation (Holding Co) during the first quarter worth approximately $143,000. 68.87% of the stock is owned by hedge funds and other institutional investors.

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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