AmerisourceBergen Corp. (ABC) is Downgraded by Avondale to Mkt Perform

AmerisourceBergen Corp. (ABC) was Downgraded by Avondale to ” Mkt Perform”. Earlier the firm had a rating of “Mkt Outperform ” on the company shares. Avondale advised their investors in a research report released on May 5, 2016.

Many Wall Street Analysts have commented on AmerisourceBergen Corp.. Avondale Initiated AmerisourceBergen Corp. on Apr 19, 2016 to “Mkt Outperform”, Price Target of the shares are set at $111.AmerisourceBergen Corp. was Initiated by Credit Suisse to “Outperform” on Mar 16, 2016.

On the company’s financial health, AmerisourceBergen Corp. reported $1.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on May 5, 2016. Analyst had a consensus of $1.58. The company had revenue of $35698.36 million for the quarter, compared to analysts expectations of $35804.35 million. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 EPS.

AmerisourceBergen Corp. closed down -1.19 points or -1.39% at $84.29 with 22,56,078 shares getting traded on Wednesday. Post opening the session at $84.98, the shares hit an intraday low of $84 and an intraday high of $85.3 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 3, 2016, Dale Danilewitz (Executive Vice President) sold 1,586 shares at $86.80 per share price. According to the SEC, on Dec 22, 2015, Steven H Collis (President & CEO) sold 27,148 shares at $102.23 per share price. On Dec 2, 2015, Dermot Mark Durcan (director) purchased 1,000 shares at $99.70 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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