Bank of America Reinstates AmerisourceBergen Corp. to Neutral

Brokerage firm Bank of America Reinstates its rating on AmerisourceBergen Corp.(NYSE:ABC). The shares have been rated Neutral. The rating by Bank of America was issued on Jun 7, 2016.

In a different note, On May 5, 2016, Avondale Partners said it Downgrades its rating on AmerisourceBergen Corp.. The shares have been rated ‘Market Perform’ by the firm. Avondale Partners said it Initiates Coverage on AmerisourceBergen Corp., according to a research note issued on Apr 18, 2016. The shares have been rated ‘Market Outperform’ by the firm. Credit Suisse said it Initiates Coverage on AmerisourceBergen Corp., according to a research note issued on Mar 15, 2016. The shares have been rated ‘Outperform’ by the firm.

AmerisourceBergen Corp. (ABC) made into the market gainers list on Fridays trading session with the shares advancing 0.38% or 0.29 points. Due to strong positive momentum, the stock ended at $76.46, which is also near the day’s high of $77.24. The stock began the session at $75.87 and the volume stood at 28,18,140 shares. The 52-week high of the shares is $115.41 and the 52 week low is $73.31. The company has a current market capitalization of $16,504 M and it has 21,58,54,750 shares in outstanding.

AmerisourceBergen Corp.(ABC) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $35.70B. Analysts had an estimated revenue of $35.84B. Earnings per share were $1.68. Analysts had estimated an EPS of $1.60.

Several Insider Transactions has been reported to the SEC. On Mar 3, 2016, Dale Danilewitz (Executive Vice President) sold 1,586 shares at $86.80 per share price.Also, 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.

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