Brokerages predict that AmerisourceBergen Corp. (NYSE:ABC) will report $45.31 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for AmerisourceBergen’s earnings, with estimates ranging from $45.17 billion to $45.46 billion. AmerisourceBergen posted sales of $43.30 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.6%. The business is expected to announce its next earnings results on Tuesday, November 5th.
On average, analysts expect that AmerisourceBergen will report full year sales of $179.38 billion for the current year, with estimates ranging from $179.12 billion to $179.84 billion. For the next fiscal year, analysts anticipate that the business will report sales of $188.22 billion, with estimates ranging from $186.59 billion to $189.51 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow AmerisourceBergen.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.14. The business had revenue of $45.24 billion for the quarter, compared to the consensus estimate of $45.15 billion. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 EPS.
Several research analysts recently issued reports on ABC shares. ValuEngine downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Morgan Stanley reduced their price target on shares of AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, September 6th. Zacks Investment Research upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Wednesday, June 12th. Argus reduced their price target on shares of AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, June 3rd. Finally, TheStreet upgraded shares of AmerisourceBergen from a “c+” rating to a “b” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. AmerisourceBergen presently has a consensus rating of “Hold” and an average price target of $87.38.
NYSE ABC traded down $1.22 on Friday, hitting $83.42. 1,262,190 shares of the company were exchanged, compared to its average volume of 1,413,177. The firm has a 50 day moving average of $86.15 and a two-hundred day moving average of $81.99. The company has a market cap of $18.05 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.54 and a beta of 1.00. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. AmerisourceBergen has a 1-year low of $69.36 and a 1-year high of $94.85.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.60 annualized dividend and a yield of 1.92%. AmerisourceBergen’s dividend payout ratio is currently 24.65%.
In other news, CEO Steven H. Collis sold 19,905 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.58, for a total value of $1,783,089.90. Following the completion of the sale, the chief executive officer now directly owns 154,484 shares of the company’s stock, valued at approximately $13,838,676.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Henry Wadsworth Mcgee III sold 10,585 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $91.97, for a total value of $973,502.45. Following the completion of the sale, the director now directly owns 24,510 shares of the company’s stock, valued at $2,254,184.70. The disclosure for this sale can be found here. Insiders have sold a total of 186,215 shares of company stock valued at $16,240,235 over the last three months. Company insiders own 27.80% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of AmerisourceBergen by 16.8% in the 2nd quarter. Vanguard Group Inc. now owns 18,910,594 shares of the company’s stock valued at $1,612,318,000 after acquiring an additional 2,719,868 shares during the last quarter. BlackRock Inc. increased its stake in shares of AmerisourceBergen by 1.1% in the 2nd quarter. BlackRock Inc. now owns 12,325,863 shares of the company’s stock valued at $1,050,903,000 after acquiring an additional 136,458 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of AmerisourceBergen by 9.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,769,023 shares of the company’s stock valued at $236,087,000 after acquiring an additional 245,394 shares during the last quarter. Northern Trust Corp increased its stake in shares of AmerisourceBergen by 3.3% in the 2nd quarter. Northern Trust Corp now owns 2,514,818 shares of the company’s stock valued at $214,414,000 after acquiring an additional 81,207 shares during the last quarter. Finally, Boston Partners increased its stake in shares of AmerisourceBergen by 2.5% in the 2nd quarter. Boston Partners now owns 2,402,458 shares of the company’s stock valued at $204,879,000 after acquiring an additional 59,431 shares during the last quarter. 66.10% of the stock is owned by institutional investors.
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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