Deutsche Bank initiated coverage on shares of AmerisourceBergen (NYSE:ABC) in a research note published on Thursday morning, BenzingaRatingsTable reports. The firm issued a hold rating and a $91.00 target price on the stock.
A number of other equities research analysts also recently issued reports on the stock. TheStreet upgraded shares of AmerisourceBergen from a c+ rating to a b rating in a research note on Thursday, August 1st. Morgan Stanley reduced their price objective on shares of AmerisourceBergen from $91.00 to $83.00 and set an equal weight rating on the stock in a research note on Friday, September 6th. Argus reduced their price objective on shares of AmerisourceBergen from $115.00 to $100.00 and set a buy rating on the stock in a research note on Monday, June 3rd. ValuEngine downgraded shares of AmerisourceBergen from a hold rating to a sell rating in a research note on Tuesday, August 6th. Finally, Zacks Investment Research upgraded shares of AmerisourceBergen from a hold rating to a buy rating and set a $89.00 price objective on the stock in a research note on Wednesday, June 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $87.38.
Shares of AmerisourceBergen stock opened at $83.42 on Thursday. The company has a market capitalization of $17.79 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.52 and a beta of 1.00. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 1.40. AmerisourceBergen has a 12-month low of $69.36 and a 12-month high of $94.85. The firm’s 50-day moving average price is $86.15 and its two-hundred day moving average price is $81.99.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were paid a $0.40 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.92%. AmerisourceBergen’s payout ratio is currently 24.65%.
In other news, Chairman Steven H. Collis sold 107,826 shares of the firm’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $86.18, for a total value of $9,292,444.68. Following the sale, the chairman now directly owns 242,405 shares in the company, valued at approximately $20,890,462.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Steven H. Collis sold 19,905 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $89.58, for a total transaction of $1,783,089.90. Following the completion of the sale, the chief executive officer now owns 154,484 shares in the company, valued at $13,838,676.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,215 shares of company stock worth $16,240,235. 27.80% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Motco acquired a new stake in shares of AmerisourceBergen in the 2nd quarter valued at approximately $26,000. Pathstone Family Office LLC boosted its stake in shares of AmerisourceBergen by 67.7% in the 2nd quarter. Pathstone Family Office LLC now owns 312 shares of the company’s stock valued at $27,000 after purchasing an additional 126 shares in the last quarter. Rational Advisors LLC raised its holdings in AmerisourceBergen by 1,627.3% in the 1st quarter. Rational Advisors LLC now owns 380 shares of the company’s stock valued at $30,000 after buying an additional 358 shares during the last quarter. Transamerica Financial Advisors Inc. bought a new position in AmerisourceBergen in the 2nd quarter valued at approximately $38,000. Finally, Citizens Financial Group Inc RI raised its holdings in AmerisourceBergen by 316.5% in the 2nd quarter. Citizens Financial Group Inc RI now owns 454 shares of the company’s stock valued at $39,000 after buying an additional 345 shares during the last quarter. Institutional investors own 65.95% of the company’s stock.
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, outsourced compounded sterile preparations, 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 other alternate site pharmacies, and other customers.
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