AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) - Analysts at Leerink Swann boosted their Q1 2018 earnings per share estimates for shares of AmerisourceBergen Corporation (Holding Co) in a research note issued on Monday. Leerink Swann analyst D. Larsen now anticipates that the company will post earnings of $1.49 per share for the quarter, up from their prior estimate of $1.44. Leerink Swann also issued estimates for AmerisourceBergen Corporation (Holding Co)’s FY2019 earnings at $7.00 EPS.
AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.06. The business had revenue of $38.71 billion during the quarter, compared to analysts’ expectations of $39.13 billion. AmerisourceBergen Corporation (Holding Co) had a return on equity of 56.07% and a net margin of 0.56%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.37 EPS.
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A number of other equities research analysts have also issued reports on ABC. TheStreet lowered AmerisourceBergen Corporation (Holding Co) from a “b” rating to a “c+” rating in a research report on Thursday. Zacks Investment Research raised AmerisourceBergen Corporation (Holding Co) from a “sell” rating to a “hold” rating in a research report on Friday. UBS AG dropped their target price on AmerisourceBergen Corporation (Holding Co) from $94.00 to $87.00 and set a “neutral” rating on the stock in a research report on Friday. BidaskClub lowered AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $95.00 target price on shares of AmerisourceBergen Corporation (Holding Co) in a research report on Thursday, July 13th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. AmerisourceBergen Corporation (Holding Co) has an average rating of “Buy” and an average target price of $93.64.
Shares of AmerisourceBergen Corporation (NYSE:ABC) traded down 1.08% during midday trading on Thursday, hitting $80.83. The company had a trading volume of 2,882,893 shares. The firm’s 50-day moving average is $93.75 and its 200-day moving average is $89.47. The firm has a market capitalization of $17.65 billion, a P/E ratio of 15.69 and a beta of 0.91. AmerisourceBergen Corporation has a 12-month low of $68.38 and a 12-month high of $97.85.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in AmerisourceBergen Corporation (Holding Co) by 4.0% in the first quarter. Vanguard Group Inc. now owns 15,348,617 shares of the company’s stock worth $1,358,352,000 after buying an additional 587,779 shares in the last quarter. BlackRock Inc. increased its position in AmerisourceBergen Corporation (Holding Co) by 1,139.3% in the first quarter. BlackRock Inc. now owns 12,673,530 shares of the company’s stock worth $1,121,608,000 after buying an additional 11,650,881 shares in the last quarter. Fiduciary Management Inc. WI increased its position in AmerisourceBergen Corporation (Holding Co) by 11.2% in the first quarter. Fiduciary Management Inc. WI now owns 6,151,621 shares of the company’s stock worth $544,418,000 after buying an additional 617,723 shares in the last quarter. JPMorgan Chase & Co. increased its position in AmerisourceBergen Corporation (Holding Co) by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 3,106,108 shares of the company’s stock worth $274,889,000 after buying an additional 293,229 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in AmerisourceBergen Corporation (Holding Co) by 7.6% in the first quarter. Bank of New York Mellon Corp now owns 3,063,289 shares of the company’s stock worth $271,101,000 after buying an additional 216,204 shares in the last quarter. Hedge funds and other institutional investors own 68.82% of the company’s stock.
In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $94.76, for a total value of $1,421,400.00. Following the completion of the transaction, the chairman now directly owns 253,876 shares in the company, valued at $24,057,289.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 27.40% of the stock is owned by company insiders.
About AmerisourceBergen Corporation (Holding Co)
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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