AmerisourceBergen Corporation (Holding Co) (ABC) Shares Gap Down to $80.69

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) shares gapped down before the market opened on Friday . The stock had previously closed at $79.06, but opened at $80.69. AmerisourceBergen Corporation (Holding Co) shares last traded at $80.61, with a volume of 795,701 shares traded.

Several research analysts have commented on ABC shares. Morgan Stanley downgraded AmerisourceBergen Corporation (Holding Co) from an “overweight” rating to an “equal weight” rating in a report on Thursday. Mizuho lifted their target price on AmerisourceBergen Corporation (Holding Co) from $83.00 to $93.00 and gave the stock a “neutral” rating in a report on Tuesday, May 30th. BidaskClub raised AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. ValuEngine downgraded AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $95.00 price objective on shares of AmerisourceBergen Corporation (Holding Co) in a research report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. AmerisourceBergen Corporation (Holding Co) has an average rating of “Hold” and an average price target of $92.34.

The company’s 50 day moving average price is $81.75 and its 200 day moving average price is $87.67. The stock has a market capitalization of $17.88 billion, a price-to-earnings ratio of 21.26 and a beta of 0.95.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last posted its earnings results 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 during the quarter, compared to analyst estimates of $39.13 billion. During the same period in the prior year, the business posted $1.37 earnings per share. AmerisourceBergen Corporation (Holding Co)’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate that AmerisourceBergen Corporation will post $5.88 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were paid a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Thursday, August 17th. AmerisourceBergen Corporation (Holding Co)’s payout ratio is currently 38.02%.

In related news, insider Gina Clark sold 1,273 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $80.94, for a total value of $103,036.62. Following the completion of the transaction, the insider now directly owns 10,830 shares of the company’s stock, valued at $876,580.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Steven H. Collis sold 15,000 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $79.92, for a total transaction of $1,198,800.00. Following the completion of the transaction, the chairman now directly owns 253,876 shares of the company’s stock, valued at $20,289,769.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,273 shares of company stock valued at $4,323,237. 27.40% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its stake in AmerisourceBergen Corporation (Holding Co) by 3.2% in the second quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock worth $104,000 after buying an additional 34 shares in the last quarter. Point72 Asia Hong Kong Ltd bought a new position in AmerisourceBergen Corporation (Holding Co) in the first quarter worth about $105,000. Sun Life Financial INC raised its stake in AmerisourceBergen Corporation (Holding Co) by 15,000.0% in the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock worth $114,000 after buying an additional 1,200 shares in the last quarter. American Beacon Advisors Inc. bought a new position in AmerisourceBergen Corporation (Holding Co) in the first quarter worth about $108,000. Finally, SRS Capital Advisors Inc. raised its stake 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. 67.67% of the stock is owned by institutional investors.

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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.

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