Wall Street analysts forecast that AmerisourceBergen Corp. (NYSE:ABC) will announce $39.39 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for AmerisourceBergen Corp.’s earnings, with the lowest sales estimate coming in at $38.75 billion and the highest estimate coming in at $39.7 billion. AmerisourceBergen Corp. reported sales of $36.88 billion during the same quarter last year, which would suggest a positive year over year growth rate of 6.8%. The company is scheduled to announce its next quarterly earnings results on Tuesday, August 1st.

According to Zacks, analysts expect that AmerisourceBergen Corp. will report full-year sales of $39.39 billion for the current financial year, with estimates ranging from $154.76 billion to $157.12 billion. For the next fiscal year, analysts anticipate that the company will post sales of $170.45 billion per share, with estimates ranging from $167.65 billion to $174.15 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover AmerisourceBergen Corp..

AmerisourceBergen Corp. (NYSE:ABC) last released its quarterly earnings data on Thursday, May 4th. The company reported $1.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.09. AmerisourceBergen Corp. had a net margin of 0.91% and a return on equity of 62.44%. The business had revenue of $37.15 billion for the quarter, compared to analysts’ expectations of $38.07 billion. During the same quarter last year, the company earned $1.68 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year.

ABC has been the subject of a number of analyst reports. Credit Suisse Group AG reissued a “buy” rating on shares of AmerisourceBergen Corp. in a report on Sunday, February 5th. Vetr raised AmerisourceBergen Corp. from a “hold” rating to a “buy” rating and set a $94.25 price objective for the company in a report on Monday, February 20th. Needham & Company LLC initiated coverage on AmerisourceBergen Corp. in a report on Tuesday, April 4th. They set a “buy” rating and a $99.00 price objective for the company. Jefferies Group LLC initiated coverage on AmerisourceBergen Corp. in a report on Wednesday, May 17th. They set a “hold” rating and a $95.00 price objective for the company. Finally, Zacks Investment Research cut AmerisourceBergen Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, February 21st. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $94.00.

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Shares of AmerisourceBergen Corp. (NYSE:ABC) opened at 91.00 on Friday. The firm has a market cap of $19.87 billion, a PE ratio of 17.66 and a beta of 0.82. AmerisourceBergen Corp. has a 12-month low of $68.38 and a 12-month high of $94.50. The company has a 50 day moving average of $86.06 and a 200-day moving average of $84.81.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 5th. Investors of record on Monday, May 22nd will be issued a $0.365 dividend. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.60%. AmerisourceBergen Corp.’s dividend payout ratio is 24.37%.

In related news, insider Lazarus Krikorian sold 9,958 shares of AmerisourceBergen Corp. stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $91.83, for a total value of $914,443.14. Following the completion of the transaction, the insider now directly owns 15,743 shares of the company’s stock, valued at $1,445,679.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Steven H. Collis sold 15,000 shares of AmerisourceBergen Corp. stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $81.98, for a total value of $1,229,700.00. Following the completion of the transaction, the chairman now directly owns 253,876 shares of the company’s stock, valued at $20,812,754.48. The disclosure for this sale can be found here. Insiders sold 51,958 shares of company stock valued at $4,537,753 over the last ninety days. 27.40% 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. Point72 Asia Hong Kong Ltd purchased a new stake in shares of AmerisourceBergen Corp. during the first quarter valued at $105,000. American Beacon Advisors Inc. purchased a new stake in shares of AmerisourceBergen Corp. during the first quarter valued at $108,000. SRS Capital Advisors Inc. boosted its stake in shares of AmerisourceBergen Corp. by 0.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,235 shares of the company’s stock valued at $109,000 after buying an additional 4 shares in the last quarter. Archford Capital Strategies LLC purchased a new stake in shares of AmerisourceBergen Corp. during the fourth quarter valued at $125,000. Finally, ClariVest Asset Management LLC purchased a new stake in shares of AmerisourceBergen Corp. during the first quarter valued at $143,000. 69.11% of the stock is owned by institutional investors and hedge funds.

About AmerisourceBergen Corp.

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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