AmerisourceBergen Co. (NYSE:ABC – Get Rating) has been assigned a consensus recommendation of “Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $169.25.
Several analysts recently issued reports on ABC shares. Argus lifted their price target on shares of AmerisourceBergen from $140.00 to $160.00 in a research report on Monday, March 14th. Deutsche Bank Aktiengesellschaft upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and raised their price objective for the company from $167.00 to $178.00 in a research note on Tuesday. StockNews.com upgraded AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 6th. Morgan Stanley dropped their price objective on AmerisourceBergen from $178.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Friday, May 27th. Finally, Mizuho raised their price objective on AmerisourceBergen from $139.00 to $162.00 in a research note on Thursday, May 5th.
Shares of ABC stock opened at $146.42 on Thursday. The company has a market cap of $30.67 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.70 and a beta of 0.45. AmerisourceBergen has a 52 week low of $111.34 and a 52 week high of $167.19. The company has a quick ratio of 0.56, a current ratio of 0.92 and a debt-to-equity ratio of 5.13. The firm has a 50 day moving average of $156.07 and a 200-day moving average of $142.88.
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Monday, May 16th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, May 13th. AmerisourceBergen’s payout ratio is presently 22.44%.
In related news, major shareholder Walgreens Boots Alliance, Inc. sold 6,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $150.00, for a total value of $900,000,000.00. Following the completion of the sale, the insider now owns 52,854,867 shares in the company, valued at approximately $7,928,230,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven H. Collis sold 11,480 shares of the business’s stock in a transaction that occurred on Tuesday, April 12th. The stock was sold at an average price of $162.11, for a total value of $1,861,022.80. Following the completion of the sale, the chief executive officer now owns 205,178 shares of the company’s stock, valued at approximately $33,261,405.58. The disclosure for this sale can be found here. Insiders have sold a total of 6,066,899 shares of company stock valued at $910,384,692 in the last ninety days. Insiders own 28.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Bank of America Corp DE lifted its position in AmerisourceBergen by 47.9% in the first quarter. Bank of America Corp DE now owns 1,546,732 shares of the company’s stock valued at $239,294,000 after purchasing an additional 500,599 shares during the last quarter. Insight Advisors LLC PA bought a new position in shares of AmerisourceBergen during the first quarter valued at approximately $227,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of AmerisourceBergen by 25.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,808 shares of the company’s stock valued at $3,374,000 after acquiring an additional 4,482 shares in the last quarter. Walleye Capital LLC raised its holdings in shares of AmerisourceBergen by 52.9% during the first quarter. Walleye Capital LLC now owns 38,219 shares of the company’s stock valued at $5,913,000 after acquiring an additional 13,225 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its holdings in shares of AmerisourceBergen by 41.8% during the first quarter. Kestra Private Wealth Services LLC now owns 4,590 shares of the company’s stock valued at $710,000 after acquiring an additional 1,354 shares in the last quarter. Hedge funds and other institutional investors own 64.17% of the company’s stock.
AmerisourceBergen Company Profile (Get Rating)
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, 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 alternate site pharmacies, and other customers.
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