AmerisourceBergen (NYSE:ABC) Rating Lowered to Sell at ValuEngine

ValuEngine cut shares of AmerisourceBergen (NYSE:ABC) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

ABC has been the topic of several other research reports. TheStreet upgraded shares of AmerisourceBergen from a c+ rating to a b rating in a report on Thursday, August 1st. Guggenheim initiated coverage on shares of AmerisourceBergen in a report on Thursday, April 11th. They issued a buy rating on the stock. Argus dropped their target price on shares of AmerisourceBergen from $115.00 to $100.00 and set a buy rating on the stock in a report on Monday, June 3rd. Zacks Investment Research upgraded shares of AmerisourceBergen from a hold rating to a buy rating and set a $89.00 target price on the stock in a report on Wednesday, June 12th. Finally, Bank of America downgraded shares of AmerisourceBergen from a buy rating to an underperform rating and dropped their target price for the stock from $95.00 to $76.00 in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $88.25.

Shares of ABC opened at $87.45 on Tuesday. The company has a market cap of $18.04 billion, a P/E ratio of 13.47, a PEG ratio of 1.54 and a beta of 0.97. AmerisourceBergen has a one year low of $69.36 and a one year high of $94.85. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 1.40. The stock has a fifty day moving average price of $87.01.

AmerisourceBergen (NYSE:ABC) last announced its earnings results on Thursday, August 1st. The company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.62 by $0.14. The firm had revenue of $45.24 billion for the quarter, compared to the consensus estimate of $45.15 billion. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.54 EPS. As a group, equities research analysts forecast that AmerisourceBergen will post 7.05 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.83%. AmerisourceBergen’s dividend payout ratio is 24.65%.

In other AmerisourceBergen news, Director Richard W. Gochnauer sold 5,500 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.69, for a total value of $443,795.00. Following the sale, the director now directly owns 12,364 shares in the company, valued at approximately $997,651.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 107,826 shares of the firm’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $86.18, for a total transaction of $9,292,444.68. Following the completion of the sale, the chairman now owns 242,405 shares in the company, valued at $20,890,462.90. The disclosure for this sale can be found here. Insiders sold a total of 191,379 shares of company stock worth $16,502,190 over the last 90 days. Company insiders own 27.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of ABC. Boston Partners grew its position in AmerisourceBergen by 222.4% in the 1st quarter. Boston Partners now owns 2,343,027 shares of the company’s stock worth $186,317,000 after purchasing an additional 1,616,201 shares during the last quarter. Marshall Wace North America L.P. boosted its position in shares of AmerisourceBergen by 318.9% during the 1st quarter. Marshall Wace North America L.P. now owns 907,474 shares of the company’s stock valued at $72,163,000 after acquiring an additional 690,823 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in shares of AmerisourceBergen by 1,584.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 490,101 shares of the company’s stock valued at $41,786,000 after acquiring an additional 461,002 shares in the last quarter. Ceredex Value Advisors LLC boosted its position in shares of AmerisourceBergen by 23.9% during the 1st quarter. Ceredex Value Advisors LLC now owns 2,135,142 shares of the company’s stock valued at $169,787,000 after acquiring an additional 411,607 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of AmerisourceBergen by 14.4% during the 1st quarter. Northern Trust Corp now owns 2,433,611 shares of the company’s stock valued at $193,521,000 after acquiring an additional 306,161 shares in the last quarter. Institutional investors own 66.59% of the company’s stock.

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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Analyst Recommendations for AmerisourceBergen (NYSE:ABC)

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