AmerisourceBergen (ABC) Downgraded by ValuEngine to “Sell”

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ValuEngine lowered shares of AmerisourceBergen (NYSE:ABC) from a hold rating to a sell rating in a report published on Monday morning.

A number of other research analysts have also recently weighed in on the company. Zacks Investment Research cut AmerisourceBergen from a hold rating to a sell rating in a research report on Wednesday, October 3rd. Mizuho restated a neutral rating on shares of AmerisourceBergen in a research report on Wednesday, September 19th. Morgan Stanley raised their price target on AmerisourceBergen from $88.00 to $91.00 and gave the company an equal weight rating in a research report on Monday, December 3rd. Royal Bank of Canada set a $90.00 price target on AmerisourceBergen and gave the company a hold rating in a research report on Wednesday, November 7th. Finally, Barclays restated a hold rating and issued a $84.00 price target on shares of AmerisourceBergen in a research report on Sunday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. AmerisourceBergen presently has an average rating of Hold and an average price target of $99.83.

Shares of ABC stock traded down $0.48 during mid-day trading on Monday, reaching $75.52. The stock had a trading volume of 7,578 shares, compared to its average volume of 1,335,820. AmerisourceBergen has a 12-month low of $69.36 and a 12-month high of $106.27. The stock has a market cap of $16.17 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.22 and a beta of 1.08. The company has a quick ratio of 0.50, a current ratio of 0.93 and a debt-to-equity ratio of 1.48.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.01. AmerisourceBergen had a return on equity of 45.54% and a net margin of 0.99%. The business had revenue of $43.30 billion during the quarter, compared to analysts’ expectations of $43.27 billion. During the same quarter last year, the business posted $1.33 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, sell-side analysts anticipate that AmerisourceBergen will post 6.81 earnings per share for the current year.

In related news, EVP Gina Clark sold 29,549 shares of AmerisourceBergen stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $88.33, for a total transaction of $2,610,063.17. Following the completion of the sale, the executive vice president now owns 45,344 shares in the company, valued at approximately $4,005,235.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kathy H. Gaddes sold 2,652 shares of the firm’s stock in a transaction dated Monday, October 22nd. The stock was sold at an average price of $92.96, for a total value of $246,529.92. Following the completion of the sale, the executive vice president now directly owns 3,891 shares in the company, valued at $361,707.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,101 shares of company stock valued at $12,142,506. 27.30% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. boosted its stake in AmerisourceBergen by 140.9% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,142 shares of the company’s stock worth $105,000 after buying an additional 668 shares during the last quarter. Financial Gravity Wealth Inc. lifted its stake in shares of AmerisourceBergen by 93.2% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock valued at $108,000 after purchasing an additional 605 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of AmerisourceBergen in the 3rd quarter valued at about $120,000. Centaurus Financial Inc. acquired a new position in shares of AmerisourceBergen in the 2nd quarter valued at about $129,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of AmerisourceBergen in the 3rd quarter valued at about $130,000. 65.87% of the stock is currently owned by hedge funds and other institutional investors.

AmerisourceBergen Company Profile

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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Analyst Recommendations for AmerisourceBergen (NYSE:ABC)

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