AmerisourceBergen Corp. (NYSE:ABC) – Analysts at Leerink Swann upped their FY2018 EPS estimates for AmerisourceBergen in a report issued on Tuesday. Leerink Swann analyst D. Larsen now forecasts that the company will post earnings per share of $6.15 for the year, up from their prior estimate of $6.10. Leerink Swann currently has a “Buy” rating and a $105.00 target price on the stock. Leerink Swann also issued estimates for AmerisourceBergen’s Q4 2018 earnings at $1.57 EPS, Q2 2019 earnings at $1.97 EPS, Q3 2019 earnings at $1.61 EPS, Q4 2019 earnings at $1.68 EPS, FY2019 earnings at $6.70 EPS and FY2020 earnings at $7.25 EPS.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.01. The firm had revenue of $39.12 billion for the quarter, compared to analysts’ expectations of $40.10 billion. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 EPS.
Several other equities analysts have also recently issued reports on the company. Morgan Stanley cut AmerisourceBergen from an “overweight” rating to an “equal weight” rating in a research report on Thursday, September 14th. Mizuho set a $92.00 price objective on AmerisourceBergen and gave the company a “hold” rating in a research report on Tuesday, October 24th. Zacks Investment Research cut AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Cowen raised AmerisourceBergen from a “market perform” rating to an “outperform” rating in a research report on Tuesday, October 10th. Finally, Robert W. Baird raised AmerisourceBergen from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $89.00 to $96.00 in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $95.26.
AmerisourceBergen (ABC) traded up $0.35 during mid-day trading on Wednesday, reaching $94.39. The company had a trading volume of 1,035,200 shares, compared to its average volume of 1,086,650. The company has a market cap of $20,310.00, a PE ratio of 58.27, a PEG ratio of 1.63 and a beta of 0.99. AmerisourceBergen has a fifty-two week low of $71.90 and a fifty-two week high of $97.85. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.91 and a quick ratio of 0.48.
In other AmerisourceBergen news, SVP Lazarus Krikorian sold 16,427 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $84.86, for a total transaction of $1,393,995.22. Following the completion of the sale, the senior vice president now directly owns 23,360 shares in the company, valued at approximately $1,982,329.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Steven H. Collis sold 21,350 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $76.94, for a total transaction of $1,642,669.00. Following the sale, the chairman now owns 260,226 shares of the company’s stock, valued at $20,021,788.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 187,223 shares of company stock valued at $15,583,298. Company insiders own 27.40% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in ABC. Stephens Inc. AR increased its stake in shares of AmerisourceBergen by 1.5% in the 2nd quarter. Stephens Inc. AR now owns 5,141 shares of the company’s stock worth $486,000 after purchasing an additional 77 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of AmerisourceBergen by 0.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,329 shares of the company’s stock worth $1,165,000 after purchasing an additional 80 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of AmerisourceBergen by 2.4% in the 2nd quarter. Advisory Services Network LLC now owns 4,367 shares of the company’s stock worth $413,000 after purchasing an additional 101 shares in the last quarter. Thrivent Financial For Lutherans increased its stake in shares of AmerisourceBergen by 3.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 6,250 shares of the company’s stock worth $591,000 after purchasing an additional 180 shares in the last quarter. Finally, Norinchukin Bank The increased its stake in shares of AmerisourceBergen by 0.7% in the 2nd quarter. Norinchukin Bank The now owns 30,637 shares of the company’s stock worth $2,896,000 after purchasing an additional 212 shares in the last quarter. Institutional investors and hedge funds own 67.83% of the company’s stock.
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AmerisourceBergen Company Profile
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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