AmerisourceBergen Corp. (NYSE:ABC) – Analysts at Leerink Swann lifted their FY2018 EPS estimates for AmerisourceBergen in a research report issued on Tuesday. Leerink Swann analyst D. Larsen now anticipates 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.
AmerisourceBergen (NYSE:ABC) last issued its earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.01. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The company had revenue of $39.12 billion for the quarter, compared to analysts’ expectations of $40.10 billion. During the same period last year, the business earned $1.30 EPS. AmerisourceBergen’s quarterly revenue was up 4.2% compared to the same quarter last year.
Shares of AmerisourceBergen (ABC) traded up $2.22 on Wednesday, hitting $94.04. The company had a trading volume of 1,138,100 shares, compared to its average volume of 957,900. AmerisourceBergen has a 12 month low of $71.90 and a 12 month high of $97.85. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.83. The company has a market cap of $20,390.00, a PE ratio of 58.05, a P/E/G ratio of 1.59 and a beta of 0.99.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 4th. Stockholders of record on Monday, November 20th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Friday, November 17th. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.37. AmerisourceBergen’s dividend payout ratio (DPR) is 93.83%.
In other AmerisourceBergen news, CFO Tim G. Guttman sold 11,600 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $74.28, for a total value of $861,648.00. Following the completion of the sale, the chief financial officer now owns 40,326 shares in the company, valued at $2,995,415.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dale Danilewitz sold 2,012 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $85.00, for a total value of $171,020.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,764 shares of company stock valued at $13,469,732. Corporate insiders own 27.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Stephens Inc. AR increased its stake in shares of AmerisourceBergen by 1.5% during the second quarter. Stephens Inc. AR now owns 5,141 shares of the company’s stock valued at $486,000 after buying an additional 77 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of AmerisourceBergen by 0.7% during the second 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 period. Advisory Services Network LLC increased its stake in shares of AmerisourceBergen by 2.4% during the second 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 period. Thrivent Financial For Lutherans increased its stake in shares of AmerisourceBergen by 3.0% during the second 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 period. Finally, Norinchukin Bank The increased its stake in shares of AmerisourceBergen by 0.7% during the second 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 period. Hedge funds and other institutional investors own 67.83% of the company’s stock.
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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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