What’s in Amerisourcebergen Corporation (NYSE:ABC) After Decline in Shorted Shares?

December 6, 2017 - By Adrian Mccoy

 What’s in Amerisourcebergen Corporation (NYSE:ABC) After Decline in Shorted Shares?

The stock of Amerisourcebergen Corporation (NYSE:ABC) registered a decrease of 5.48% in short interest. ABC’s total short interest was 11.02M shares in December as published by FINRA. Its down 5.48% from 11.66 million shares, reported previously. With 2.21M shares average volume, it will take short sellers 5 days to cover their ABC’s short positions. The short interest to Amerisourcebergen Corporation’s float is 6.89%.

The stock increased 0.05% or $0.04 during the last trading session, reaching $85.93. About 338,978 shares traded. AmerisourceBergen Corporation (NYSE:ABC) has risen 18.80% since December 6, 2016 and is uptrending. It has outperformed by 2.10% the S&P500.

AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. The company has market cap of $18.74 billion. The Company’s Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers. It has a 52.4 P/E ratio. It also provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; and packaging solutions to various institutional and retail healthcare providers.

AmerisourceBergen Corporation (NYSE:ABC) Ratings Coverage

Among 18 analysts covering AmerisourceBergen (NYSE:ABC), 9 have Buy rating, 0 Sell and 9 Hold. Therefore 50% are positive. AmerisourceBergen has $130 highest and $9 lowest target. $88.87’s average target is 3.42% above currents $85.93 stock price. AmerisourceBergen had 58 analyst reports since July 27, 2015 according to SRatingsIntel. The firm has “Buy” rating by Mizuho given on Wednesday, November 9. The stock of AmerisourceBergen Corporation (NYSE:ABC) has “Buy” rating given on Thursday, August 27 by Zacks. The firm earned “Neutral” rating on Thursday, October 6 by UBS. As per Tuesday, November 17, the company rating was maintained by Credit Suisse. Mizuho maintained the shares of ABC in report on Tuesday, October 24 with “Hold” rating. The stock of AmerisourceBergen Corporation (NYSE:ABC) earned “Hold” rating by Jefferies on Friday, November 3. The stock of AmerisourceBergen Corporation (NYSE:ABC) has “Neutral” rating given on Friday, June 30 by Bank of America. The rating was maintained by Robert W. Baird with “Buy” on Monday, November 6. Robert W. Baird maintained the shares of ABC in report on Friday, December 1 with “Buy” rating. The stock has “Hold” rating by Zacks on Tuesday, August 25.

More notable recent AmerisourceBergen Corporation (NYSE:ABC) news were published by: Nasdaq.com which released: “AmerisourceBergen Corp (ABC) Files 10-K for the Fiscal Year Ended on September …” on November 21, 2017, also Reuters.com with their article: “AmerisourceBergen to pay $625 million to settle US government probe” published on November 21, 2017, Seekingalpha.com published: “Premarket analyst action – healthcare” on December 04, 2017. More interesting news about AmerisourceBergen Corporation (NYSE:ABC) were released by: Philly.com and their article: “AmeriSourceBergen buying distributor for $815M” published on November 20, 2017 as well as Seekingalpha.com‘s news article titled: “AmerisourceBergen’s Industry Has High Uncertainty” with publication date: November 13, 2017.

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