AmerisourceBergen Corporation (Holding Co) (ABC) has risen sharply, recording gains of 3.48% in the past 4 weeks. However, the stock has corrected -0.07% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 3.09% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
AmerisourceBergen Corporation is up 19.21% in the last 3-month period. Year-to-Date the stock performance stands at -13.27%. The stock has recorded a 20-day Moving Average of 1.6% and the 50-Day Moving Average is 7.49%.
AmerisourceBergen Corporation (Holding Co) (NYSE:ABC): The stock opened at $88.53 on Friday but the bulls could not build on the opening and the stock topped out at $89.00 for the day. The stock traded down to $88.26 during the day, due to lack of any buying support eventually closed down at $88.85 with a loss of -0.13% for the day. The stock had closed at $88.97 on the previous day. The total traded volume was 2,089,408 shares.
Also, Equity Analysts at the Deutsche Bank maintains the rating on AmerisourceBergen Corporation (Holding Co) (NYSE:ABC). The brokerage firm has issued a Hold rating on the shares. The Analysts at the ratings agency raises the price target from $83 per share to $96 per share. The rating by the firm was issued on August 3, 2016.
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company operates through two segments: Pharmaceutical Distribution and Other. The Company also provides data and other services to its manufacturing customers. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. The Company provides pharmacy services to certain specialty drug patients. Additionally, the Company offers healthcare providers and pharmaceutical manufacturers with services, including reimbursement and pharmaceutical consulting services, logistics services, inventory management, pharmacy automation and pharmacy management. The Company has a distribution facility network totaling approximately 30 distribution facilities in the United States.