AmerisourceBergen Corp. (ABC) is Upgraded by Avondale to Mkt Outperform

AmerisourceBergen Corp. (ABC) was Upgraded by Avondale to ” Mkt Outperform”. Earlier the firm had a rating of “Mkt Perform ” on the company shares. Avondale advised their investors in a research report released on Oct 4, 2016.

Many Wall Street Analysts have commented on AmerisourceBergen Corp.. Company shares were Reiterated by Mizuho on Aug 11, 2016 to “Neutral”, Firm has raised the Price Target to $ 90 from a previous price target of $80 .Company shares were Reiterated by FBR Capital on Aug 3, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 90 from a previous price target of $84 .Company shares were Reiterated by Barclays on Aug 3, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 89 from a previous price target of $83 .

On the company’s financial health, AmerisourceBergen Corp. reported $1.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $1.27. The company had revenue of $36900.00 million for the quarter, compared to analysts expectations of $36705.18 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS.

AmerisourceBergen Corp. closed down -0.47 points or -0.58% at $80.78 with 30,01,798 shares getting traded on Friday. Post opening the session at $81.29, the shares hit an intraday low of $79.34 and an intraday high of $81.64 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Sep 22, 2016, Henry Wadsworth Iii Mcgee (director) sold 3,351 shares at $82.10 per share price. According to the SEC, on Sep 8, 2016, Kathy H. Gaddes (Executive Vice President) sold 681 shares at $88.15 per share price. On Sep 1, 2016, John G. Chou (Executive Vice President) sold 63,750 shares at $85.70 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

AmerisourceBergen Corp.

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