Stock Fundamental and Technical Insights on AmerisourceBergen Corp (NYSE:ABC)

AmerisourceBergen Corp (NYSE:ABC) (TREND ANALYSIS) shares were traded with no significant volume change. The stock closed last trading session at $106.14, up by 1.13%, with a volume of 2,161,632 shares against an average volume for the last 3 months of 1,848,250.

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AmerisourceBergen Corp (NYSE:ABC) stock is currently trading 12.05% below its 52-week-high, 42.81% above its 52-week-low. The 1-year stock price history is in the range of $74.32 – $120.68. AmerisourceBergen Corp (ABC) has a price to book ratio of 14.42. ABC stock price has outperformed the S&P 500 by 16.5%. The Medical-Wholesale Drug Distribution company is currently valued at $22.95 billion and its share price closed the last trading session at $106.14. The stock has a 50-day moving average of $107.87 and a 200-day moving average of $109.02.

AmerisourceBergen Corp (ABC) current short interest stands at 5.87 million shares. It has decreased by 2% from the same period of last month. Around 3% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.39 million shares, the number of days required to cover the short positions stand at 4.3 days.

ABC reported last quarter earnings on July 23. The Medical-Wholesale Drug Distribution company announced earnings per share of $1.2 against a consensus Street estimate of $1.15, beating the average estimate by $0.05. This corresponds to an increase of $0.15 compared to the same quarter of the previous fiscal year.

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There are currently twenty analysts that cover AmerisourceBergen Corp stock. Of those twenty, nine have a Buy rating, eleven have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $118.11.

A recent analyst activity consisted of KeyBanc reiterating their Overweight stance on July 16. KeyBanc increased their price target on ABC from $61 to $63. This corresponds to a 40.64% downside from the last closing price. On the date of report, the stock closed at $111.57.

Cowen & Company downgraded their Outperform rating to Market Perform on May 18. On the date of report, the stock closed at $113.

Another research firm was Argus Research who reiterated their Buy stance on May 13. Argus Research increased their price target on AmerisourceBergen Corp from $104 to $135. This translates to a 27.19% upside from the last closing price. On the date of report, the stock closed at $113.69.

Company profile

AmerisourceBergen Corporation provides pharmaceutical services. The Company offers brand generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to healthcare providers. AmerisourceBergen distributes its products internationally.

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