An Analysis of AmerisourceBergen Corporation (ABC)’s Potential Price Growth


In a filing, AmerisourceBergen Corporation revealed its Executive Vice President & COO Mauch Robert P. unloaded Company’s shares for reported $3.49 million on Nov 04. In the deal valued at $160.00 per share,21,802 shares were sold. As a result of this transaction, Mauch Robert P. now holds 20,197 shares worth roughly $ 3.26 million.

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Then, COLLIS STEVEN H sold 11,480 shares, generating $1,626,946 in total proceeds. Upon selling the shares at $141.72, the Chairman, President & CEO now owns 205,178 shares.

Before that, COLLIS STEVEN H sold 11,480 shares. AmerisourceBergen Corporation shares valued at $1,634,752 were divested by the Chairman, President & CEO at a price of $142.40 per share. As a result of the transaction, COLLIS STEVEN H now holds 205,178 shares, worth roughly $33.16 million.

BofA Securities upgraded its AmerisourceBergen Corporation [ABC] rating to a Buy from a a Neutral in a research note published on Friday, October 11, 2022; the price target was increased to $169 from $160. PT values the company’s stock at a premium of 4.36 to its Friday closing price. Evercore ISI also remained covering ABC and has decreased its forecast on July 11, 2022 with a “an In-line” recommendation from previously “an Outperform” rating. Deutsche Bank revised its rating on June 07, 2022. It rated ABC as “a Buy” which previously was an “a Hold”.

Price Performance Review of ABC

On Friday, AmerisourceBergen Corporation [NYSE:ABC] saw its stock jump 2.41% to $161.64. On the same session, the stock had its day’s lowest price of $159.30, but rose to a high of $167.29. Over the last five days, the stock has gained 1.46%. AmerisourceBergen Corporation shares have risen nearly 21.63% since the year began. Nevertheless, the stocks have risen 27.50% over the past one year. While a 52-week high of $167.19 was reached on 11/04/22, a 52-week low of $113.68 was recorded on 01/24/22. SMA at 50 days reached $144.78, while 200 days put it at $146.98. A total of 2.72 million shares were traded, compared to the trading of 1.75 million shares in the previous session.

Levels Of Support And Resistance For ABC Stock

The 24-hour chart illustrates a support level at 158.20, which if violated will result in even more drops to 154.75. On the upside, there is a resistance level at 166.19. A further resistance level may holdings at 170.73. The Relative Strength Index (RSI) on the 14-day chart is 71.55, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 5.38, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 21.98%. Stochastics %K at 81.72% indicates the stock is a selling.

How much short interest is there in AmerisourceBergen Corporation?

A steep rise in short interest was recorded in AmerisourceBergen Corporation stocks on Jul 14, 2022, growing by 0.32 million shares to a total of 4.04 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 3.72 million shares. There was a rise of 7.92%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.69% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.97.

AmerisourceBergen Corporation [ABC] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 18,303,606 shares, or roughly 8.83% of the outstanding ABC shares. In other words, the investor’s shares have risen by 483,954 from its previous 13-F filing of 17819652.0. Additionally, BlackRock Fund Advisors increased 3.22% of its stake after which the total value it holdings stand at $1,118,258,315, while SSgA Funds Management, Inc. reduced -1.54% of its stake to hold $923.6 million in the firm. Over the last quarter, JPMorgan Investment Management, I purchased 7,385 shares of AmerisourceBergen Corporation, while Fidelity Management & Research Co bought 486,152 shares. At present, Boston Partners Global Investors, is holding 4,527,177 shares valued at $612.66 million. Geode Capital Management LLC owned 2,941,455 shares of the company at the time of its most recent 13F filing, worth $398.07 million.

According to FactSet, AmerisourceBergen Corporation’s share price will average $178.64 in the next year, based on opinions of analysts polled by the firm. This is up nearly 11.51 percent from its previous closing price of $157.84. Analysts expect AmerisourceBergen Corporation stock to reach the higher price of $195.00, while the lowest price estimate is $162.00. However, 14 analysts have rated ABC stock as an Overweight in their predictions for 2022.


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