Jefferies Group LLC Analysts Give AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) a $95.00 Price Target

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) has been assigned a $95.00 price objective by investment analysts at Jefferies Group LLC in a research report issued to clients and investors on Tuesday, August 29th. The brokerage currently has a “hold” rating on the stock. Jefferies Group LLC’s target price suggests a potential upside of 16.42% from the stock’s current price.

Several other equities research analysts have also recently issued reports on ABC. Leerink Swann set a $90.00 target price on AmerisourceBergen Corporation (Holding Co) and gave the stock a “buy” rating in a research note on Monday, August 7th. TheStreet cut AmerisourceBergen Corporation (Holding Co) from a “b” rating to a “c+” rating in a research note on Thursday, August 3rd. BidaskClub cut AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. UBS AG dropped their price objective on AmerisourceBergen Corporation (Holding Co) from $94.00 to $87.00 and set a “neutral” rating for the company in a research note on Friday, August 4th. Finally, Zacks Investment Research raised AmerisourceBergen Corporation (Holding Co) from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $92.34.

AmerisourceBergen Corporation (NYSE:ABC) traded up 1.13% during trading on Tuesday, hitting $81.60. The stock had a trading volume of 2,732,342 shares. AmerisourceBergen Corporation has a 12 month low of $68.38 and a 12 month high of $97.85. The company has a market cap of $17.88 billion, a PE ratio of 21.26 and a beta of 0.95. The company’s 50 day moving average is $81.75 and its 200-day moving average is $87.67.

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

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In other news, insider Gina Clark sold 1,273 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $80.94, for a total transaction of $103,036.62. Following the transaction, the insider now owns 10,830 shares of the company’s stock, valued at $876,580.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 15,000 shares of the firm’s 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 directly owns 253,876 shares in the company, valued at approximately $20,289,769.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,273 shares of company stock worth $4,323,237. 27.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased its stake in shares of AmerisourceBergen Corporation (Holding Co) by 3.2% during the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock valued at $104,000 after acquiring an additional 34 shares during the period. Point72 Asia Hong Kong Ltd acquired a new position in AmerisourceBergen Corporation (Holding Co) in the first quarter worth approximately $105,000. American Beacon Advisors Inc. acquired a new position in AmerisourceBergen Corporation (Holding Co) in the first quarter worth approximately $108,000. SRS Capital Advisors Inc. grew 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 during the last quarter. Finally, Sun Life Financial INC grew its position in AmerisourceBergen Corporation (Holding Co) by 15,000.0% in the second 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 67.67% 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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