Amerisource shares jump on Walgreens buyout report
- Author: David Armstrong Feb 16, 2018,
Feb 16, 2018, 6:12
Walgreens Boots Alliance, Inc., operating as a pharmacy-led healthcare firm, has apparently made a bid to acquire AmerisourceBergen Corporation. The stock, after opening at $65.85, hit $65.87 through the close by scoring -0.17%. For the past 5 years, the company's revenue has grown 2.1%, while the company's earnings per share has grown 41%. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
COPYRIGHT VIOLATION NOTICE: "Alta Capital Management LLC Purchases 76,684 Shares of Walgreens Boots Alliance Inc (WBA)" was originally reported by Week Herald and is the property of of Week Herald.
Analyst's ratings determines the future of any company. The correct version of this report can be viewed at https://www.thelincolnianonline.com/2018/02/14/regent-investment-management-llc-sells-7663-shares-of-walgreens-boots-alliance-inc-wba-updated-updated.html. Finally, Evercore ISI began coverage on shares of Walgreens Boots Alliance in a research note on Thursday, January 4th. (NASDAQ:WBA) ended its day at 68.29 with the rising stream of -0.25% and its total traded volume was 6.78 million shares more than the average volume. The stock recovered 7% since its low point and has performed -5.96% year-to-date.
CEO Pessina drove the Walgreens-Boots Alliance deal and more recently agreed to acquire 1,932 stores from smaller USA rival Rite Aid, partly in a bid to improve its ability to negotiate for lower drug costs. Finally, Jefferies Group LLC reissued a "buy" rating and issued a $95.00 price target on shares of Walgreens Boots Alliance in a research report on Monday, October 2nd. The company has its outstanding shares of 987.2 Million. Amerisource. Amerisource had a market cap of approximately $19.6 billion, which Walgreens owns about $5.1 billion.
Chubb Limited (CB) analysts on average have given a price target of $86.13 on CB stock. The pharmacy operator reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.01.
Turning to Walgreens Boots Alliance, Inc. Investors of record on Thursday, February 15th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.34%.
Several brokerages recently weighed in on WBA.
Analysts look for public financial statements, listen in on conference calls and talk to managers and customers of a company in order to reach an opinion and communicate the value of a stock. Vetr raised Walgreens Boots Alliance from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, December 12th. The target implies a 26.12% spike from where the shares are now trading. The most strategic deal for Walgreens in the current payer-centric environment, though, would be buying an insurer, he said. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company's stock. The firm has fifty days moving average percentage of -3.71% to its latest price change. If you are accessing this report on another domain, it was illegally copied and republished in violation of United States and worldwide trademark & copyright legislation. The assets would well supplement Walgreens' pharmaceutical-wholesale business, which distributes products to doctors, hospitals and pharmacies globally.
A potential acquisition of drug distributor AmerisourceBergen by Walgreens Boots Alliance is right in line with CEO Stefano Pessina's past moves, analysts say, which would add another piece to the global pharmacy empire the Italian billionaire helped assemble.