AmerisourceBergen Corporation (Holding Co) (ABC) has risen sharply, recording gains of 3.93% in the past 4 weeks. However, the stock has corrected -0.49% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2.87% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 2.21% and the 50-Day Moving Average is 8.82%. AmerisourceBergen Corporation (Holding Co) (NYSE:ABC): On Fridays trading session , Opening price of the stock was $89.14 with an intraday high of $89.19. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $88.33. However, the stock managed to close at $88.91, a loss of 0.04% for the day. On the previous day, the stock had closed at $88.95. The total traded volume of the day was 1,319,515 shares.
The company Insiders own 6.9% of AmerisourceBergen Corporation (Holding Co) shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -10.01% . Institutional Investors own 76.55% of AmerisourceBergen Corporation (Holding Co) shares. During last six month period, the net percent change held by insiders has seen a change of -10.27%. Also, Equity analysts at the Brokerage firm Deutsche Bank maintains its rating on AmerisourceBergen Corporation (Holding Co) (NYSE:ABC). The rating major has initiated the coverage with hold rating on the shares. The Analysts at Deutsche Bank raises the price target from $83 per share to $96 per share. The rating by the firm was issued on August 3, 2016.
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.