AmerisourceBergen Corporation (Holding Co) (ABC) Stock Rating Lowered by BidaskClub

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

ABC has been the topic of a number of other reports. Zacks Investment Research raised shares of AmerisourceBergen Corporation (Holding Co) from a “sell” rating to a “hold” rating in a research report on Friday. UBS AG dropped their price objective on shares of AmerisourceBergen Corporation (Holding Co) from $94.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday. TheStreet downgraded shares of AmerisourceBergen Corporation (Holding Co) from a “b” rating to a “c+” rating in a research note on Thursday. Bank of America Corporation downgraded shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $95.76 to $94.00 in a research note on Friday, June 30th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $95.00 price objective on shares of AmerisourceBergen Corporation (Holding Co) in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. AmerisourceBergen Corporation (Holding Co) has an average rating of “Hold” and a consensus price target of $93.64.

Shares of AmerisourceBergen Corporation (NYSE ABC) traded down 1.08% during midday trading on Friday, reaching $80.83. The company had a trading volume of 2,882,893 shares. AmerisourceBergen Corporation has a one year low of $68.38 and a one year high of $97.85. The company has a 50 day moving average of $93.75 and a 200 day moving average of $89.47. The company has a market capitalization of $17.65 billion, a PE ratio of 15.69 and a beta of 0.91.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.06. AmerisourceBergen Corporation (Holding Co) had a net margin of 0.56% and a return on equity of 56.07%. The company had revenue of $38.71 billion for the quarter, compared to analyst estimates of $39.13 billion. During the same period in the prior year, the company posted $1.37 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts predict that AmerisourceBergen Corporation will post $5.87 EPS for the current fiscal year.

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In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 15,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $94.76, for a total value of $1,421,400.00. Following the completion of the transaction, the chairman now owns 253,876 shares of the company’s stock, valued at $24,057,289.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 27.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SRS Capital Advisors Inc. boosted its position in AmerisourceBergen Corporation (Holding Co) by 0.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,235 shares of the company’s stock worth $109,000 after buying an additional 4 shares in the last quarter. Bollard Group LLC boosted its position in AmerisourceBergen Corporation (Holding Co) by 0.4% in the first quarter. Bollard Group LLC now owns 2,912 shares of the company’s stock worth $258,000 after buying an additional 11 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its position in AmerisourceBergen Corporation (Holding Co) by 0.4% in the first quarter. Jaffetilchin Investment Partners LLC now owns 5,106 shares of the company’s stock worth $452,000 after buying an additional 19 shares in the last quarter. Reinhart Partners Inc. boosted its position in AmerisourceBergen Corporation (Holding Co) by 0.6% in the first quarter. Reinhart Partners Inc. now owns 4,040 shares of the company’s stock worth $358,000 after buying an additional 25 shares in the last quarter. Finally, Alpha Windward LLC boosted its position in AmerisourceBergen Corporation (Holding Co) by 1.8% in the first quarter. Alpha Windward LLC now owns 2,148 shares of the company’s stock worth $190,000 after buying an additional 39 shares in the last quarter. 68.82% of the stock is owned by institutional investors and hedge funds.

AmerisourceBergen Corporation (Holding Co) 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.