Equities research analysts forecast that AmerisourceBergen Corp. (NYSE:ABC) will report $40.37 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for AmerisourceBergen’s earnings, with estimates ranging from $39.82 billion to $41.05 billion. AmerisourceBergen reported sales of $38.17 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.8%. The business is expected to announce its next earnings results before the market opens on Tuesday, February 6th.
On average, analysts expect that AmerisourceBergen will report full-year sales of $40.37 billion for the current fiscal year, with estimates ranging from $163.34 billion to $168.11 billion. For the next year, analysts anticipate that the business will report sales of $178.11 billion per share, with estimates ranging from $173.25 billion to $180.78 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover AmerisourceBergen.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.01. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The company had revenue of $39.12 billion during the quarter, compared to analysts’ expectations of $40.10 billion. During the same quarter in the prior year, the company earned $1.30 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year.
Shares of AmerisourceBergen (NYSE:ABC) traded down $1.02 on Friday, reaching $99.84. 385,682 shares of the company traded hands, compared to its average volume of 1,480,208. AmerisourceBergen has a fifty-two week low of $71.90 and a fifty-two week high of $101.85. The firm has a market capitalization of $22,000.00, a PE ratio of 61.63, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.91 and a quick ratio of 0.48.
In other AmerisourceBergen news, CFO Tim G. Guttman sold 11,600 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $74.28, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 21,350 shares of the company’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 sale, the chairman now directly owns 260,226 shares in the company, valued at $20,021,788.44. The disclosure for this sale can be found here. Insiders have sold 203,823 shares of company stock worth $17,145,148 over the last ninety days. Insiders own 27.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in AmerisourceBergen by 2.0% during the second quarter. Vanguard Group Inc. now owns 15,653,245 shares of the company’s stock worth $1,479,701,000 after acquiring an additional 304,628 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of AmerisourceBergen by 107.3% in the third quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock valued at $434,385,000 after purchasing an additional 2,776,287 shares during the period. Wells Fargo & Company MN raised its position in shares of AmerisourceBergen by 11.4% in the third quarter. Wells Fargo & Company MN now owns 3,726,377 shares of the company’s stock valued at $308,358,000 after purchasing an additional 381,936 shares during the period. FIL Ltd raised its position in shares of AmerisourceBergen by 14.4% in the second quarter. FIL Ltd now owns 3,477,157 shares of the company’s stock valued at $328,696,000 after purchasing an additional 437,132 shares during the period. Finally, Harding Loevner LP raised its position in shares of AmerisourceBergen by 89.6% in the third quarter. Harding Loevner LP now owns 3,166,794 shares of the company’s stock valued at $134,939,000 after purchasing an additional 1,496,761 shares during the period. 67.83% of the stock is currently 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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