AmerisourceBergen Corp. (ABC) is Reiterated by Barclays to Equal Weight, Raises Price Target to $ 89

AmerisourceBergen Corp. (ABC) was Reiterated by Barclays to “Equal Weight” according to the research note released today. The brokerage firm has raised the Price Target to $ 89 from a previous price target of $83 . Barclays advised their investors in a research report released on Aug 3, 2016.

Many Wall Street Analysts have commented on AmerisourceBergen Corp.. 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 .AmerisourceBergen Corp. was Resumed by BofA/Merrill to “Neutral” on Jun 7, 2016. Shares were Reiterated by RBC Capital Mkts on May 6, 2016 to “Outperform” and Lowered the Price Target to $ 85 from a previous price target of $100 .

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. opened for trading at $88.64 and hit $90.54 on the upside on Tusday, eventually ending the session at $89.43, with a gain of 4.55% or 3.89 points. The heightened volatility saw the trading volume jump to 51,79,162 shares. Company has a market cap of $19,304 M.

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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