AmerisourceBergen (NYSE:ABC) Given New $175.00 Price Target at Morgan Stanley

AmerisourceBergen (NYSE:ABCGet Rating) had its price objective decreased by equities researchers at Morgan Stanley from $178.00 to $175.00 in a note issued to investors on Friday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 12.32% from the stock’s current price.

Several other equities research analysts also recently issued reports on ABC. Deutsche Bank Aktiengesellschaft lowered their price target on AmerisourceBergen from $168.00 to $167.00 in a research report on Wednesday. Argus increased their price objective on AmerisourceBergen from $140.00 to $160.00 in a research note on Monday, March 14th. Robert W. Baird boosted their target price on shares of AmerisourceBergen from $179.00 to $187.00 in a research note on Thursday, May 5th. StockNews.com raised shares of AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 6th. Finally, Barclays raised AmerisourceBergen from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $175.00 to $182.00 in a report on Thursday. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $168.29.

ABC opened at $155.80 on Friday. AmerisourceBergen has a 1-year low of $111.34 and a 1-year high of $167.19. The company has a market capitalization of $32.63 billion, a price-to-earnings ratio of 19.00, a price-to-earnings-growth ratio of 1.63 and a beta of 0.45. The business has a 50 day moving average price of $156.56 and a two-hundred day moving average price of $141.13. The company has a debt-to-equity ratio of 5.13, a current ratio of 0.92 and a quick ratio of 0.56.

AmerisourceBergen (NYSE:ABCGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.23. The business had revenue of $57.72 billion for the quarter, compared to analyst estimates of $57.26 billion. AmerisourceBergen had a net margin of 0.75% and a return on equity of 349.46%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.53 earnings per share. Equities analysts expect that AmerisourceBergen will post 10.94 EPS for the current fiscal year.

In related news, EVP Gina Clark sold 43,704 shares of the business’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $153.71, for a total transaction of $6,717,741.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the insider now owns 52,854,867 shares of the company’s stock, valued at approximately $7,928,230,050. The disclosure for this sale can be found here. Insiders sold a total of 6,078,379 shares of company stock worth $912,048,947 over the last 90 days. 28.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Herold Advisors Inc. acquired a new stake in shares of AmerisourceBergen in the 1st quarter valued at approximately $31,000. KB Financial Partners LLC bought a new stake in AmerisourceBergen in the fourth quarter valued at approximately $31,000. Massmutual Trust Co. FSB ADV raised its holdings in AmerisourceBergen by 133.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 210 shares of the company’s stock worth $32,000 after purchasing an additional 120 shares during the last quarter. Gemmer Asset Management LLC acquired a new position in shares of AmerisourceBergen in the 4th quarter worth approximately $33,000. Finally, Cassady Schiller Wealth Management LLC acquired a new stake in shares of AmerisourceBergen during the fourth quarter worth $33,000. 64.17% of the stock is owned by hedge funds and other institutional investors.

About AmerisourceBergen (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.

Featured Stories

Stock Target Advisor logo

Analyst Recommendations for AmerisourceBergen (NYSE:ABC)

Receive News & Ratings for AmerisourceBergen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen and related companies with MarketBeat.com's FREE daily email newsletter.