Evercore ISI began coverage on shares of AmerisourceBergen (NYSE:ABC) in a research note issued to investors on Thursday, January 4th, MarketBeat Ratings reports. The firm set an “outperform” rating and a $105.00 price target on the stock. Evercore ISI’s price objective indicates a potential downside of 0.09% from the stock’s current price.

A number of other research analysts have also commented on ABC. Needham & Company LLC reiterated a “buy” rating and set a $91.00 price target on shares of AmerisourceBergen in a report on Sunday, September 10th. Morgan Stanley lowered AmerisourceBergen from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 14th. Royal Bank of Canada initiated coverage on AmerisourceBergen in a report on Tuesday, September 19th. They set a “sector perform” rating and a $87.00 price target for the company. Zacks Investment Research lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Finally, Robert W. Baird upgraded AmerisourceBergen from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $89.00 to $96.00 in a report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $98.39.

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Shares of AmerisourceBergen (NYSE ABC) opened at $105.09 on Thursday. AmerisourceBergen has a 12-month low of $71.90 and a 12-month high of $106.27. The stock has a market capitalization of $23,003.29, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.83.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.01. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The company had revenue of $39.12 billion during the quarter, compared to analyst estimates of $40.10 billion. During the same period in the previous year, the company earned $1.30 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. equities analysts forecast that AmerisourceBergen will post 6.25 EPS for the current fiscal year.

In other AmerisourceBergen news, Director Richard W. Gochnauer sold 2,000 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $96.54, for a total value of $193,080.00. Following the sale, the director now directly owns 12,947 shares in the company, valued at $1,249,903.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tim G. Guttman sold 11,600 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $74.28, for a total value of $861,648.00. Following the completion of the sale, the chief financial officer now owns 40,326 shares in the company, valued at $2,995,415.28. The disclosure for this sale can be found here. Insiders sold 203,823 shares of company stock valued at $17,145,148 over the last 90 days. 27.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in ABC. JPMorgan Chase & Co. grew its holdings in shares of AmerisourceBergen by 107.3% during the third quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock worth $434,385,000 after purchasing an additional 2,776,287 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of AmerisourceBergen by 660.8% during the second quarter. Janus Henderson Group PLC now owns 2,574,746 shares of the company’s stock worth $243,392,000 after purchasing an additional 2,236,319 shares during the last quarter. Harding Loevner LP grew its holdings in shares of AmerisourceBergen by 89.6% during the third quarter. Harding Loevner LP now owns 3,166,794 shares of the company’s stock worth $134,939,000 after purchasing an additional 1,496,761 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of AmerisourceBergen by 42.9% during the second quarter. Wells Fargo & Company MN now owns 3,344,441 shares of the company’s stock worth $316,149,000 after purchasing an additional 1,003,327 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of AmerisourceBergen during the third quarter worth $75,681,000. Hedge funds and other institutional investors own 67.96% of the company’s stock.

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AmerisourceBergen Company Profile

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.

Analyst Recommendations for AmerisourceBergen (NYSE:ABC)

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