AmerisourceBergen Corp. (NYSE:ABC) – Investment analysts at Leerink Swann upped their Q1 2018 earnings estimates for AmerisourceBergen in a research report issued to clients and investors on Tuesday. Leerink Swann analyst D. Larsen now forecasts that the company will earn $1.34 per share for the quarter, up from their previous forecast of $1.30. Leerink Swann has a “Buy” rating and a $105.00 price target on the stock. Leerink Swann also issued estimates for AmerisourceBergen’s Q2 2018 earnings at $1.75 EPS, Q3 2018 earnings at $1.48 EPS and Q1 2019 earnings at $1.45 EPS.
Several other analysts have also weighed in on ABC. Zacks Investment Research raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Wednesday. Jefferies Group set a $85.00 price objective on shares of AmerisourceBergen and gave the stock a “hold” rating in a report on Sunday, October 29th. Needham & Company LLC raised their price objective on shares of AmerisourceBergen from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, November 22nd. Royal Bank of Canada initiated coverage on shares of AmerisourceBergen in a report on Tuesday, September 19th. They set a “sector perform” rating and a $87.00 price objective for the company. Finally, Robert W. Baird set a $99.00 price target on shares of AmerisourceBergen and gave the company a “buy” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. AmerisourceBergen has an average rating of “Buy” and a consensus target price of $95.26.
AmerisourceBergen (NYSE ABC) traded up $0.35 during midday trading on Thursday, hitting $94.39. 1,035,200 shares of the stock traded hands, compared to its average volume of 1,086,650. The firm has a market capitalization of $20,310.00, a price-to-earnings ratio of 58.27, a price-to-earnings-growth ratio of 1.63 and a beta of 0.99. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.83. AmerisourceBergen has a 12 month low of $71.90 and a 12 month high of $97.85.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.01. The company had revenue of $39.12 billion during the quarter, compared to analyst estimates of $40.10 billion. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.30 earnings per share.
A number of hedge funds have recently made changes to their positions in ABC. First Merchants Corp boosted its position in shares of AmerisourceBergen by 160.5% during the third quarter. First Merchants Corp now owns 27,342 shares of the company’s stock worth $2,262,000 after purchasing an additional 16,848 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of AmerisourceBergen by 23.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,459 shares of the company’s stock worth $369,000 after purchasing an additional 842 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of AmerisourceBergen by 17.3% during the third quarter. Wedge Capital Management L L P NC now owns 494,216 shares of the company’s stock worth $40,896,000 after purchasing an additional 72,743 shares in the last quarter. Achmea Investment Management B.V. boosted its position in shares of AmerisourceBergen by 7.8% during the second quarter. Achmea Investment Management B.V. now owns 29,338 shares of the company’s stock worth $2,770,000 after purchasing an additional 2,123 shares in the last quarter. Finally, Burgundy Asset Management Ltd. boosted its position in shares of AmerisourceBergen by 3.3% during the second quarter. Burgundy Asset Management Ltd. now owns 2,649,123 shares of the company’s stock worth $250,422,000 after purchasing an additional 84,163 shares in the last quarter. 67.83% of the stock is currently owned by hedge funds and other institutional investors.
In other AmerisourceBergen news, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $74.28, for a total value of $861,648.00. Following the transaction, the chief financial officer now directly owns 40,326 shares of the company’s stock, valued at $2,995,415.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 260,226 shares in the company, valued at $20,021,788.44. The disclosure for this sale can be found here. Insiders have sold 187,223 shares of company stock worth $15,583,298 over the last three months. 27.40% of the stock is owned by insiders.
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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