The AmerisourceBergen Corp. (ABC) Price Target Raised to $93.00

The AmerisourceBergen Corp. (ABC) Price Target Raised to $93.00

Several other research firms have also recently weighed in on ABC. Vetr upgraded shares of AmerisourceBergen Corp. from a buy rating to a strong-buy rating and set a $97.44 price objective for the company in a research report on Tuesday, April 18th. Zacks Investment Research cut shares of AmerisourceBergen Corp. from a buy rating to a hold rating in a research report on Tuesday, February 21st. Morgan Stanley upgraded shares of AmerisourceBergen Corp. from an equal weight rating to an overweight rating in a research report on Tuesday, January 31st. Credit Suisse Group AG restated a buy rating on shares of AmerisourceBergen Corp. in a research report on Sunday, February 5th. Finally, Jefferies Group LLC started coverage on shares of AmerisourceBergen Corp. in a research report on Wednesday, May 17th. They issued a hold rating and a $95.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $94.71.

AmerisourceBergen Corp. (NYSE:ABC) had its price objective hoisted by Mizuho from $83.00 to $93.00 in a report released on Tuesday morning. Mizuho currently has a neutral rating on the stock.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 5th. Investors of record on Monday, May 22nd will be issued a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, May 18th. AmerisourceBergen Corp.’s dividend payout ratio is currently 24.37%. In related news, insider Gina Clark sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $89.03, for a total transaction of $1,068,360.00. Following the completion of the transaction, the insider now owns 12,103 shares in the company, valued at $1,077,530.09. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $88.35, for a total transaction of $1,325,250.00. Following the transaction, the chairman now owns 253,876 shares of the company’s stock, valued at approximately $22,429,944.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,000 shares of company stock valued at $4,999,260. Corporate insiders own 27.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ABC. Skandinaviska Enskilda Banken AB publ boosted its position in shares of AmerisourceBergen Corp. by 1,053.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 339,278 shares of the company’s stock worth $30,026,000 after buying an additional 309,876 shares in the last quarter. Ballentine Partners LLC purchased a new position in shares of AmerisourceBergen Corp. during the first quarter worth about $279,000. Public Employees Retirement System of Ohio boosted its position in shares of AmerisourceBergen Corp. by 7.9% in the first quarter. Public Employees Retirement System of Ohio now owns 139,628 shares of the company’s stock worth $12,357,000 after buying an additional 10,195 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in shares of AmerisourceBergen Corp. during the first quarter worth about $1,620,000. Finally, Achmea Investment Management B.V. purchased a new position in shares of AmerisourceBergen Corp. during the first quarter worth about $2,409,000. Hedge funds and other institutional investors own 69.11% of the company’s stock. AmerisourceBergen Corp. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ABC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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