AmerisourceBergen (NYSE:ABC – Get Rating) had its target price increased by stock analysts at Robert W. Baird from $195.00 to $199.00 in a note issued to investors on Wednesday, The Fly reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 20.68% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. TheStreet downgraded AmerisourceBergen from a “b-” rating to a “c” rating in a research report on Tuesday, November 29th. Bank of America raised AmerisourceBergen from a “neutral” rating to a “buy” rating and upped their target price for the company from $160.00 to $169.00 in a research report on Tuesday, October 11th. StockNews.com assumed coverage on AmerisourceBergen in a research report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Cowen cut their target price on AmerisourceBergen from $170.00 to $169.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 18th. Finally, Cowen cut their target price on AmerisourceBergen from $170.00 to $169.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 18th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $176.25.
AmerisourceBergen Stock Performance
Shares of ABC stock opened at $164.90 on Wednesday. The business’s fifty day simple moving average is $165.02 and its 200-day simple moving average is $151.61. The company has a market cap of $33.92 billion, a PE ratio of 20.51, a PEG ratio of 1.67 and a beta of 0.55. The company has a current ratio of 0.91, a quick ratio of 0.55 and a debt-to-equity ratio of 64.99. AmerisourceBergen has a 12-month low of $127.94 and a 12-month high of $174.63.
Insider Transactions at AmerisourceBergen
In related news, CAO Lazarus Krikorian sold 2,218 shares of the firm’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $169.24, for a total value of $375,374.32. Following the transaction, the chief accounting officer now directly owns 20,007 shares of the company’s stock, valued at approximately $3,385,984.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other AmerisourceBergen news, EVP Gina Clark sold 392 shares of the stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $166.30, for a total value of $65,189.60. Following the completion of the sale, the executive vice president now owns 28,657 shares in the company, valued at approximately $4,765,659.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lazarus Krikorian sold 2,218 shares of the firm’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $169.24, for a total transaction of $375,374.32. Following the sale, the chief accounting officer now owns 20,007 shares of the company’s stock, valued at approximately $3,385,984.68. The disclosure for this sale can be found here. Insiders have sold a total of 19,269,033 shares of company stock valued at $3,042,164,927 in the last ninety days. 28.80% of the stock is currently owned by corporate insiders.
Institutional Trading of AmerisourceBergen
Hedge funds and other institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC acquired a new stake in shares of AmerisourceBergen during the 2nd quarter worth approximately $29,000. EverSource Wealth Advisors LLC boosted its position in shares of AmerisourceBergen by 1,078.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock worth $35,000 after purchasing an additional 205 shares during the period. MV Capital Management Inc. boosted its position in shares of AmerisourceBergen by 420.0% during the 2nd quarter. MV Capital Management Inc. now owns 260 shares of the company’s stock worth $37,000 after purchasing an additional 210 shares during the period. Hanseatic Management Services Inc. boosted its position in shares of AmerisourceBergen by 73.7% during the 3rd quarter. Hanseatic Management Services Inc. now owns 264 shares of the company’s stock worth $36,000 after purchasing an additional 112 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of AmerisourceBergen by 63.6% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 265 shares of the company’s stock worth $44,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 84.79% of the company’s stock.
AmerisourceBergen Company Profile
AmerisourceBergen Corporation sources and distributes pharmaceutical products. Its U.S. Healthcare Solutions segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to 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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