AmerisourceBergen Corp. (NYSE:ABC) – Stock analysts at Leerink Swann increased their FY2018 earnings per share estimates for shares of AmerisourceBergen in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. Leerink Swann analyst D. Larsen now forecasts that the company will post earnings of $6.15 per share for the year, up from their prior estimate of $6.10. Leerink Swann has a “Buy” rating and a $105.00 price objective 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.
Several other equities analysts have also recently commented on ABC. Morgan Stanley cut AmerisourceBergen from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 14th. Royal Bank of Canada started coverage on AmerisourceBergen in a report on Tuesday, September 19th. They issued a “sector perform” rating and a $87.00 price target for the company. Zacks Investment Research cut AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Robert W. Baird raised AmerisourceBergen from a “neutral” rating to an “outperform” rating and upped their price target for the company from $89.00 to $96.00 in a report on Thursday, October 5th. Finally, Cowen raised AmerisourceBergen from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $95.96.
Shares of AmerisourceBergen (ABC) traded up $0.93 during trading hours on Wednesday, reaching $98.14. The company had a trading volume of 780,700 shares, compared to its average volume of 1,332,862. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.48 and a current ratio of 0.91. The company has a market cap of $21,550.00, a P/E ratio of 60.58, a price-to-earnings-growth ratio of 1.63 and a beta of 0.99. AmerisourceBergen has a 1 year low of $71.90 and a 1 year high of $98.14.
AmerisourceBergen (NYSE:ABC) last announced its earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.01. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The firm had revenue of $39.12 billion during the quarter, compared to the consensus estimate of $40.10 billion. During the same quarter in the prior year, the company earned $1.30 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year.
In related news, Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $76.94, for a total transaction of $1,642,669.00. Following the completion of the sale, the chairman now directly owns 260,226 shares of the company’s stock, valued at approximately $20,021,788.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 40,326 shares of the company’s stock, valued at $2,995,415.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 203,823 shares of company stock valued at $17,145,148. 27.40% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Stephens Inc. AR increased its holdings in AmerisourceBergen by 1.5% during the 2nd quarter. Stephens Inc. AR now owns 5,141 shares of the company’s stock valued at $486,000 after purchasing an additional 77 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in 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 valued at $1,165,000 after buying an additional 80 shares during the last quarter. Advisory Services Network LLC boosted its position in AmerisourceBergen by 2.4% in the 2nd quarter. Advisory Services Network LLC now owns 4,367 shares of the company’s stock valued at $413,000 after buying an additional 101 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in AmerisourceBergen by 3.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 6,250 shares of the company’s stock valued at $591,000 after buying an additional 180 shares during the last quarter. Finally, Norinchukin Bank The boosted its position in AmerisourceBergen by 0.7% in the 2nd quarter. Norinchukin Bank The now owns 30,637 shares of the company’s stock valued at $2,896,000 after buying an additional 212 shares during the last quarter. 67.83% of the stock is owned by hedge funds and other institutional investors.
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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