AmerisourceBergen Corp. (NYSE:ABC) Director Richard W. Gochnauer sold 2,278 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $101.13, for a total value of $230,374.14. Following the transaction, the director now directly owns 13,225 shares of the company’s stock, valued at $1,337,444.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of AmerisourceBergen Corp. (ABC) traded up $0.13 during trading hours on Thursday, reaching $96.53. 1,654,948 shares of the company’s stock traded hands, compared to its average volume of 2,173,129. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.50 and a current ratio of 0.95. AmerisourceBergen Corp. has a 52 week low of $71.90 and a 52 week high of $106.27. The firm has a market cap of $21,477.04, a P/E ratio of 20.77, a P/E/G ratio of 1.56 and a beta of 1.02.
AmerisourceBergen (NYSE:ABC) last announced its earnings results on Tuesday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.20. AmerisourceBergen had a net margin of 0.66% and a return on equity of 53.65%. The company had revenue of $40.47 billion for the quarter, compared to the consensus estimate of $40.42 billion. During the same period in the previous year, the business earned $1.36 EPS. The company’s revenue was up 6.0% on a year-over-year basis. analysts expect that AmerisourceBergen Corp. will post 6.58 EPS for the current year.
A number of large investors have recently modified their holdings of the stock. BB&T Investment Services Inc. boosted its holdings in AmerisourceBergen by 11.0% in the fourth quarter. BB&T Investment Services Inc. now owns 13,959 shares of the company’s stock worth $1,285,000 after purchasing an additional 1,379 shares in the last quarter. Lake Street Advisors Group LLC bought a new stake in AmerisourceBergen during the fourth quarter valued at about $374,000. MetLife Investment Advisors LLC bought a new stake in AmerisourceBergen during the fourth quarter valued at about $4,585,000. Endurant Capital Management LP boosted its holdings in AmerisourceBergen by 63.7% during the fourth quarter. Endurant Capital Management LP now owns 55,240 shares of the company’s stock valued at $5,072,000 after acquiring an additional 21,500 shares during the period. Finally, HBK Sorce Advisory LLC bought a new stake in AmerisourceBergen during the fourth quarter valued at about $803,000. Hedge funds and other institutional investors own 66.84% of the company’s stock.
Several research firms have recently commented on ABC. Mizuho set a $100.00 target price on AmerisourceBergen and gave the company a “hold” rating in a report on Wednesday, January 24th. Needham & Company LLC upped their target price on AmerisourceBergen from $88.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Zacks Investment Research upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research report on Thursday, January 18th. Evercore ISI initiated coverage on AmerisourceBergen in a research report on Thursday, January 4th. They set an “outperform” rating and a $105.00 price objective for the company. Finally, TheStreet upgraded AmerisourceBergen from a “c” rating to a “b” rating in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $101.17.
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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.
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