AmerisourceBergen (NYSE:ABC) Upgraded by TheStreet to B-

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TheStreet upgraded shares of AmerisourceBergen (NYSE:ABC) from a c+ rating to a b- rating in a research note published on Friday, TheStreetRatingsTable reports.

Other analysts also recently issued reports about the company. ValuEngine downgraded AmerisourceBergen from a hold rating to a sell rating in a research report on Friday, November 1st. Deutsche Bank initiated coverage on AmerisourceBergen in a research note on Thursday, September 12th. They set a hold rating and a $91.00 price target for the company. Argus reiterated a buy rating and issued a $110.00 price objective on shares of AmerisourceBergen in a research report on Monday, November 18th. Finally, Morgan Stanley lowered their price objective on shares of AmerisourceBergen from $91.00 to $83.00 and set an equal weight rating on the stock in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $88.86.

Shares of AmerisourceBergen stock opened at $86.39 on Friday. The company has a 50-day moving average of $87.30 and a two-hundred day moving average of $85.45. AmerisourceBergen has a 12-month low of $69.36 and a 12-month high of $94.75. The company has a current ratio of 0.95, a quick ratio of 0.58 and a debt-to-equity ratio of 1.45. The stock has a market cap of $18.17 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 1.49 and a beta of 0.97.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.03. The business had revenue of $45.64 billion for the quarter, compared to analyst estimates of $45.15 billion. AmerisourceBergen had a return on equity of 48.84% and a net margin of 0.48%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.45 EPS. On average, sell-side analysts forecast that AmerisourceBergen will post 7.54 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.85%. The ex-dividend date was Friday, November 15th. AmerisourceBergen’s dividend payout ratio (DPR) is 22.57%.

In other AmerisourceBergen news, CEO Steven H. Collis sold 19,905 shares of AmerisourceBergen stock in a transaction on Monday, October 7th. The shares were sold at an average price of $82.12, for a total value of $1,634,598.60. Following the transaction, the chief executive officer now owns 154,484 shares in the company, valued at approximately $12,686,226.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John G. Chou sold 13,997 shares of AmerisourceBergen stock in a transaction on Monday, October 7th. The shares were sold at an average price of $81.48, for a total transaction of $1,140,475.56. Following the completion of the transaction, the executive vice president now owns 65,782 shares in the company, valued at approximately $5,359,917.36. The disclosure for this sale can be found here. Insiders sold a total of 86,521 shares of company stock valued at $7,319,222 in the last 90 days. 27.80% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of ABC. Motco purchased a new position in shares of AmerisourceBergen in the 2nd quarter worth about $26,000. Pathstone Family Office LLC increased its position in AmerisourceBergen by 67.7% during the 2nd quarter. Pathstone Family Office LLC now owns 312 shares of the company’s stock worth $27,000 after purchasing an additional 126 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in AmerisourceBergen in the third quarter valued at approximately $27,000. Transamerica Financial Advisors Inc. purchased a new position in AmerisourceBergen in the second quarter valued at approximately $38,000. Finally, Citizens Financial Group Inc RI lifted its position in AmerisourceBergen by 316.5% during the second quarter. Citizens Financial Group Inc RI now owns 454 shares of the company’s stock valued at $39,000 after buying an additional 345 shares in the last quarter. 66.77% of the stock is currently owned by institutional investors and hedge funds.

About AmerisourceBergen

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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