The company stock was downgraded to Mkt Perform from Mkt Outperform, wrote analysts at Avondale, in a research note issued to clients on Thursday May 05, 2016. Zacks Investment Research cut AmerisourceBergen Corp. from a “hold” rating to a “sell” rating in a report on Friday, April 22nd. AmerisourceBergen Corp. has been the topic of 21 analyst reports since August 25, 2015 according to StockzIntelligence Inc. Bank of America Corp. reissued a “neutral” rating on shares of AmerisourceBergen Corp.in a report on Tuesday, June 7th. Evercore ISI reissued a “hold” rating and set a $93.50 target price on shares of AmerisourceBergen Corp.in a report on Tuesday. Finally, Argus reissued a “buy” rating on shares of AmerisourceBergen Corp.in a report on Saturday, June 4th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The brokerage firm has raised the Price Target to $ 90 from a previous price target of $84. While revenue estimates for the current year is 147.13B, setting the highest revenues estimates of 147.98B and indicating lowest revenues at 145.65B according to agreement of 16 number of analysts.
Advertisement
Insider Activity: Corporate insiders look pessimistic about the outlook of the company stock that they seem to offload shares while they have -13.04 retreated so far this year.
Barclays Capital on Wednesday reiterated AmerisourceBergen’s analyst rating as “Equal Weight” with its price target of 89 highlighting a potential decrease of -0.7% from AmerisourceBergen’s current price of 89.63. The stock has a 50-day moving average price of $81.47 and a 200 day moving average price of $83.61.
Advertisement
Morgan Stanley increased its stake in Amerisourcebergen Corp (NYSE:ABC) by 296.63% based on its latest 2016Q1 regulatory filing with the SEC. The institutional investor held 12.25M shares of the other pharmaceuticals company at the end of 2016Q1, valued at $1.06B, up from 3.09M at the end of the previous reported quarter. The consensus estimate is for EPS of $5.50. The company earned $35.70 billion during the quarter, compared to analyst estimates of $35.84 billion. GAAP Distribution, selling and administrative expenses went up $17.3 million, which the company attributed to the acquisition of PharMEDium and the additional costs needed to support revenue growth. The Company operates through two segments: Pharmaceutical Distribution and Other. The Firm also provides data and other services to its manufacturing customers. AmerisourceBergen serves healthcare providers and pharmaceutical manufacturers in the pharmaceutical supply channel.
