Notable Runner: Is Buying Stock Like AmerisourceBergen Corp. After Such Increase Winning Strategy?

Notable Runner: Is Buying Stock Like AmerisourceBergen Corp. After Such Increase Winning Strategy?

The stock of AmerisourceBergen Corp. (NYSE:ABC) is a huge mover today! About 910,169 shares traded hands. AmerisourceBergen Corp. (NYSE:ABC) has declined 8.36% since March 1, 2016 and is downtrending. It has underperformed by 17.60% the S&P500.
The move comes after 9 months positive chart setup for the $19.00B company. It was reported on Oct, 4 by We have $130.44 PT which if reached, will make NYSE:ABC worth $11.78B more.

Analysts await AmerisourceBergen Corp. (NYSE:ABC) to report earnings on November, 3. They expect $1.24 EPS, up 5.98% or $0.07 from last year’s $1.17 per share. ABC’s profit will be $292.60M for 16.23 P/E if the $1.24 EPS becomes a reality. After $1.37 actual EPS reported by AmerisourceBergen Corp. for the previous quarter, Wall Street now forecasts -9.49% negative EPS growth.

AmerisourceBergen Corp. (NYSE:ABC) Ratings Coverage

Out of 14 analysts covering AmerisourceBergen (NYSE:ABC), 6 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 43% are positive. AmerisourceBergen has been the topic of 25 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Raymond James downgraded the stock to “Market Perform” rating in Wednesday, January 6 report. The stock of AmerisourceBergen Corp. (NYSE:ABC) earned “Buy” rating by UBS on Friday, February 5. Zacks upgraded it to “Hold” rating and $110 target price in Tuesday, August 25 report. The firm earned “Outperform” rating on Wednesday, October 7 by RBC Capital Markets. The rating was maintained by Mizuho with “Neutral” on Wednesday, November 18. As per Monday, July 27, the company rating was upgraded by TheStreet. The rating was downgraded by Morgan Stanley on Friday, October 2 to “Underweight”. The stock of AmerisourceBergen Corp. (NYSE:ABC) has “Mkt Perform” rating given on Friday, May 6 by FBR Capital. The stock of AmerisourceBergen Corp. (NYSE:ABC) has “Neutral” rating given on Tuesday, June 7 by Bank of America. The firm has “Outperform” rating by RBC Capital Markets given on Friday, May 6.

According to Zacks Investment Research, “AmerisourceBergen Corporation provides pharmaceutical services. It distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to various healthcare providers. The Company also provides pharmacy services to certain specialty drug patients. AmerisourceBergen Corporation is based in Chesterbrook, Pennsylvania.”

Another recent and important AmerisourceBergen Corp. (NYSE:ABC) news was published by which published an article titled: “BRIEF-Amerisourcebergen corp president, CEO, steven collis, adopted 10b5-1…” on September 19, 2016.

ABC Company Profile

AmerisourceBergen Corporation, incorporated on March 16, 2001, is a pharmaceutical sourcing and distribution services company. The Firm operates through two divisions: Pharmaceutical Distribution and Other. The Firm provides services to healthcare providers, and pharmaceutical and biotech manufacturers. The Firm 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 Firm also provides data and other services to its manufacturing customers. The Firm has a distribution facility network totaling approximately 30 distribution facilities in the United States. The Company’s services for manufacturers include assistance with product launches, promotional and marketing services to accelerate product sales, product data reporting and logistical support. The Firm is a well-known provider of solutions, including the Good Neighbor Pharmacy program, which enables independent community pharmacies; Elevate Provider Network, a managed care network, which connects the retail pharmacy clients to payor plans throughout the country; generic product purchasing and private label services; hospital pharmacy consulting, and packaging solutions for institutional and retail healthcare providers.

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