why AmerisourceBergen Corporation [ABC] is a Good Choice for Investors After New Price Target of $176.67

AmerisourceBergen Corporation [NYSE: ABC] price plunged by -1.45 percent to reach at -$2.35. The company report on November 7, 2022 that Walgreens Boots Alliance Announces Offering of 10 Million Shares of AmerisourceBergen Corporation.


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Transaction Highlights.

Walgreens Boots Alliance announces offering of 10 million shares held in AmerisourceBergen Corporation through a registered public offering and a concurrent share repurchase by AmerisourceBergen of approximately $500 million.

A sum of 8144180 shares traded at recent session while its average daily volume was at 1.05M shares. AmerisourceBergen Corporation shares reached a high of $160.145 and dropped to a low of $154.91 until finishing in the latest session at $159.66.

The one-year ABC stock forecast points to a potential upside of 9.63. The average equity rating for ABC stock is currently 2.10, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on AmerisourceBergen Corporation [ABC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ABC shares is $176.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ABC stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for AmerisourceBergen Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 11, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on August 22, 2022, representing the official price target for AmerisourceBergen Corporation stock. Previously, the target price had yet another raise to $150, while Evercore ISI analysts kept a In-line rating on ABC stock. On June 07, 2022, analysts increased their price target for ABC shares from 167 to 178.

The Average True Range (ATR) for AmerisourceBergen Corporation is set at 4.35, with the Price to Sales ratio for ABC stock in the period of the last 12 months amounting to 0.14. The Price to Book ratio for the last quarter was 149.21, with the Price to Cash per share for the same quarter was set at 14.56. Price to Free Cash Flow for ABC in the course of the last twelve months was 19.92 with Quick ratio for the last quarter at 0.60.

ABC Stock Performance Analysis:

AmerisourceBergen Corporation [ABC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.14. With this latest performance, ABC shares gained by 16.02% in over the last four-week period, additionally plugging by 0.01% over the last 6 months – not to mention a rise of 26.73% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ABC stock in for the last two-week period is set at 66.06, with the RSI for the last a single of trading hit 66.72, and the three-weeks RSI is set at 63.92 for AmerisourceBergen Corporation [ABC]. The present Moving Average for the last 50 days of trading for this stock 145.34, while it was recorded at 159.19 for the last single week of trading, and 147.27 for the last 200 days.

Insight into AmerisourceBergen Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and AmerisourceBergen Corporation [ABC] shares currently have an operating margin of +1.25 and a Gross Margin at +2.93. AmerisourceBergen Corporation’s Net Margin is presently recorded at +0.72.

Return on Total Capital for ABC is now 44.04, given the latest momentum, and Return on Invested Capital for the company is 30.94. When it comes to the capital structure of this company, AmerisourceBergen Corporation [ABC] has a Total Debt to Total Equity ratio set at 1,143.70. Additionally, ABC Total Debt to Total Capital is recorded at 91.96, with Total Debt to Total Assets ending up at 13.61. Long-Term Debt to Equity for the company is recorded at 1,092.33, with the Long-Term Debt to Total Capital now at 87.83.

Receivables Turnover for the company is 13.08 with a Total Asset Turnover recorded at a value of 4.21.AmerisourceBergen Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.90.

ABC Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ABC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for AmerisourceBergen Corporation go to 9.98%.

AmerisourceBergen Corporation [ABC] Insider Position Details

There are presently around $22,859 million, or 70.70% of ABC stock, in the hands of institutional investors. The top three institutional holders of ABC stocks are: VANGUARD GROUP INC with ownership of 18,927,971, which is approximately 2.805% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 17,194,508 shares of the stock with an approximate value of $2.75 billion in ABC stocks shares; and JPMORGAN CHASE & CO, currently with $1.2 billion in ABC stock with ownership of nearly 1.566% of the company’s market capitalization.

Positions in AmerisourceBergen Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 430 institutional holders increased their position in AmerisourceBergen Corporation [NYSE:ABC] by around 15,855,560 shares. Additionally, 412 investors decreased positions by around 10,138,209 shares, while 145 investors held positions by with 117,178,531 shares. The mentioned changes placed institutional holdings at 143,172,300 shares, according to the latest SEC report filing. ABC stock had 100 new institutional investments in for a total of 2,112,181 shares, while 88 institutional investors sold positions of 1,822,486 shares during the same period.

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