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

AmerisourceBergen Corporation (NYSE:ABC) Logo

The stock of Amerisourcebergen Corporation (NYSE:ABC) registered an increase of 14.65% in short interest. ABC’s total short interest was 5.97M shares in July as published by FINRA. Its up 14.65% from 5.21M shares, reported previously. With 1.51M shares average volume, it will take short sellers 4 days to cover their ABC’s short positions. The short interest to Amerisourcebergen Corporation’s float is 3.88%.

The stock decreased 0.75% or $0.68 during the last trading session, reaching $89.85. About 1.47 million shares traded or 4.22% up from the average. AmerisourceBergen Corporation (NYSE:ABC) has declined 10.79% since July 14, 2018 and is downtrending. It has underperformed by 15.22% the S&P500.

AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. The company has market cap of $18.88 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 20.9 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 3 analysts covering AmerisourceBergen (NYSE:ABC), 2 have Buy rating, 1 Sell and 0 Hold. Therefore 67% are positive. AmerisourceBergen has $10000 highest and $76 lowest target. $88.33’s average target is -1.69% below currents $89.85 stock price. AmerisourceBergen had 7 analyst reports since January 17, 2019 according to SRatingsIntel. Bank of America downgraded it to “Underperform” rating and $76 target in Wednesday, April 10 report. The rating was maintained by Argus Research on Monday, June 3 with “Buy”.

More notable recent AmerisourceBergen Corporation (NYSE:ABC) news were published by: Finance.Yahoo.com which released: “Here’s What Hedge Funds Think About MSCI Inc (MSCI) – Yahoo Finance” on June 21, 2019, also Seekingalpha.com with their article: “AmerisourceBergen Corporation 2019 Q2 – Results – Earnings Call Slides – Seeking Alpha” published on May 02, 2019, Finance.Yahoo.com published: “How Much Did AmerisourceBergen Corporation’s (NYSE:ABC) CEO Pocket Last Year? – Yahoo Finance” on May 22, 2019. More interesting news about AmerisourceBergen Corporation (NYSE:ABC) were released by: Bizjournals.com and their article: “These local companies made the Fortune 500 – including one (controversial) new one – Philadelphia Business Journal” published on May 21, 2019 as well as Seekingalpha.com‘s news article titled: “White House kills drug rebate proposal, healthcare stocks rally premarket – Seeking Alpha” with publication date: July 11, 2019.

AmerisourceBergen Corporation (NYSE:ABC) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.