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Robert W. Baird Reaffirms Their Buy Rating on AmerisourceBergen (ABC)

Robert W. Baird analyst Eric Coldwell maintained a Buy rating on AmerisourceBergen (ABCResearch Report) on July 13 and set a price target of $187.00. The company’s shares closed last Friday at $142.50.

According to TipRanks.com, Coldwell is a 5-star analyst with an average return of 8.9% and a 53.9% success rate. Coldwell covers the Healthcare sector, focusing on stocks such as Quest Diagnostics, Cardinal Health, and IQVIA Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for AmerisourceBergen with a $171.50 average price target, representing a 19.5% upside. In a report issued on July 20, Argus Research also maintained a Buy rating on the stock with a $170.00 price target.

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AmerisourceBergen’s market cap is currently $29.85B and has a P/E ratio of 17.41.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ABC in relation to earlier this year. Most recently, in May 2022, Lazarus Krikorian, the SVP & CAO of ABC sold 6,759 shares for a total of $1,072,191.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

AmerisourceBergen Corp. engages provision of pharmaceutical products and business solutions that improve access to care. It operates through the Pharmaceutical Distribution Services and Other segments. The Pharmaceutical Distribution Services segment distributes a comprehensive offering of brand-name, specialty brand-name & generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies & equipment, outsourced compounded sterile preparations, and related services to a wide variety of healthcare providers, including acute care hospitals and health systems, independent & chain retail pharmacies, mail order pharmacies, medical clinics, long-term care & alternate site pharmacies, and other customers. The Other segment focuses on global commercialization services and animal health and includes ABCS, World Courier, and MWI. The company was founded in 1947 and is headquartered in Chesterbrook, PA.

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