Analysts expect AmerisourceBergen Corp. (NYSE:ABC) to report sales of $43.68 billion for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for AmerisourceBergen’s earnings, with the highest sales estimate coming in at $44.07 billion and the lowest estimate coming in at $43.50 billion. AmerisourceBergen reported sales of $41.03 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.5%. The firm is expected to report its next quarterly earnings report on Wednesday, May 1st.
According to Zacks, analysts expect that AmerisourceBergen will report full year sales of $180.20 billion for the current fiscal year, with estimates ranging from $178.12 billion to $183.24 billion. For the next financial year, analysts expect that the company will post sales of $188.69 billion, with estimates ranging from $186.10 billion to $192.25 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover AmerisourceBergen.
AmerisourceBergen (NYSE:ABC) last posted its earnings results on Thursday, January 31st. The company reported $1.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.10. The firm had revenue of $45.39 billion for the quarter, compared to the consensus estimate of $43.52 billion. AmerisourceBergen had a net margin of 0.69% and a return on equity of 44.53%.
Several research firms have commented on ABC. Barclays reissued a “hold” rating and set a $84.00 target price on shares of AmerisourceBergen in a research report on Sunday, January 6th. ValuEngine downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Monday, January 7th. Zacks Investment Research raised AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Thursday, November 22nd. Morgan Stanley raised their price target on AmerisourceBergen from $88.00 to $91.00 and gave the company an “equal weight” rating in a research report on Monday, December 3rd. Finally, TheStreet downgraded AmerisourceBergen from a “b-” rating to a “c+” rating in a research report on Tuesday, January 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $88.33.
In related news, CFO James F. Cleary, Jr. bought 2,000 shares of AmerisourceBergen stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of $77.52 per share, for a total transaction of $155,040.00. Following the completion of the purchase, the chief financial officer now owns 7,306 shares in the company, valued at $566,361.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dale Danilewitz sold 5,703 shares of the stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $86.80, for a total transaction of $495,020.40. Following the completion of the sale, the insider now owns 8,960 shares of the company’s stock, valued at approximately $777,728. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,862 shares of company stock worth $8,934,873. 27.80% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc lifted its stake in shares of AmerisourceBergen by 0.4% in the third quarter. Vanguard Group Inc now owns 16,019,657 shares of the company’s stock valued at $1,477,332,000 after buying an additional 63,935 shares during the period. BlackRock Inc. lifted its stake in shares of AmerisourceBergen by 4.3% in the third quarter. BlackRock Inc. now owns 13,324,749 shares of the company’s stock valued at $1,228,809,000 after buying an additional 548,296 shares during the period. FMR LLC lifted its stake in shares of AmerisourceBergen by 51.7% in the fourth quarter. FMR LLC now owns 7,263,899 shares of the company’s stock valued at $540,434,000 after buying an additional 2,474,112 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of AmerisourceBergen by 6,614.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,448,589 shares of the company’s stock valued at $46,000 after buying an additional 3,397,228 shares during the period. Finally, Baupost Group LLC MA lifted its stake in shares of AmerisourceBergen by 46.8% in the third quarter. Baupost Group LLC MA now owns 2,751,056 shares of the company’s stock valued at $253,702,000 after buying an additional 877,491 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.
AmerisourceBergen stock traded up $0.67 during mid-day trading on Friday, hitting $80.18. 2,009,349 shares of the company’s stock were exchanged, compared to its average volume of 1,511,942. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.94 and a quick ratio of 0.53. The company has a market capitalization of $16.78 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.45 and a beta of 1.13. AmerisourceBergen has a 1-year low of $69.36 and a 1-year high of $98.23.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Tuesday, February 19th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Friday, February 15th. AmerisourceBergen’s dividend payout ratio is currently 24.65%.
AmerisourceBergen Company Profile
AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its 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.
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