Jefferies Group Comments on AmerisourceBergen Corp.’s Q2 2018 Earnings (ABC)

AmerisourceBergen Corp. (NYSE:ABC) – Investment analysts at Jefferies Group upped their Q2 2018 earnings per share (EPS) estimates for AmerisourceBergen in a report issued on Wednesday. Jefferies Group analyst B. Tanquilut now anticipates that the company will earn $1.82 per share for the quarter, up from their prior forecast of $1.66. Jefferies Group has a “Hold” rating and a $95.00 price target on the stock. Jefferies Group also issued estimates for AmerisourceBergen’s FY2018 earnings at $6.55 EPS and FY2019 earnings at $7.41 EPS.

Other equities research analysts have also issued reports about the company. Needham & Company LLC raised their price objective on AmerisourceBergen from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. Mizuho set a $100.00 price objective on AmerisourceBergen and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Zacks Investment Research raised AmerisourceBergen from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Thursday. Leerink Swann set a $105.00 price objective on AmerisourceBergen and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Finally, Credit Suisse Group reissued an “outperform” rating and set a $112.00 price objective (up from $105.00) on shares of AmerisourceBergen in a research note on Wednesday, February 7th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $101.17.

Shares of AmerisourceBergen (ABC) opened at $89.19 on Monday. The firm has a market capitalization of $19,592.28, a price-to-earnings ratio of 19.22, a PEG ratio of 1.43 and a beta of 1.02. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.48 and a current ratio of 0.95. AmerisourceBergen has a one year low of $71.90 and a one year high of $106.27.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Tuesday, February 6th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.20. The business had revenue of $40.47 billion during the quarter, compared to analyst estimates of $40.42 billion. AmerisourceBergen had a return on equity of 53.65% and a net margin of 0.66%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $1.36 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 5th. Stockholders of record on Tuesday, February 20th will be issued a $0.38 dividend. The ex-dividend date is Friday, February 16th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.70%. AmerisourceBergen’s payout ratio is currently 32.76%.

In other news, insider Peyton R. Howell sold 3,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $91.60, for a total value of $274,800.00. Following the completion of the sale, the insider now owns 49,189 shares in the company, valued at $4,505,712.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Tim G. Guttman sold 11,600 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $85.73, for a total value of $994,468.00. Following the completion of the sale, the chief financial officer now owns 56,436 shares of the company’s stock, valued at approximately $4,838,258.28. The disclosure for this sale can be found here. Insiders sold 203,077 shares of company stock valued at $18,288,730 in the last 90 days. Corporate insiders own 27.30% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Merchants Corp raised its holdings in shares of AmerisourceBergen by 160.5% during the third quarter. First Merchants Corp now owns 27,342 shares of the company’s stock worth $2,262,000 after acquiring an additional 16,848 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of AmerisourceBergen by 23.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,459 shares of the company’s stock worth $369,000 after acquiring an additional 842 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of AmerisourceBergen by 17.3% during the third quarter. Wedge Capital Management L L P NC now owns 494,216 shares of the company’s stock worth $40,896,000 after acquiring an additional 72,743 shares in the last quarter. Achmea Investment Management B.V. raised its holdings in shares of AmerisourceBergen by 7.8% during the second quarter. Achmea Investment Management B.V. now owns 29,338 shares of the company’s stock worth $2,770,000 after acquiring an additional 2,123 shares in the last quarter. Finally, Burgundy Asset Management Ltd. raised its holdings in shares of AmerisourceBergen by 3.3% during the second quarter. Burgundy Asset Management Ltd. now owns 2,649,123 shares of the company’s stock worth $250,422,000 after acquiring an additional 84,163 shares in the last quarter. Institutional investors own 67.57% of the company’s stock.

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AmerisourceBergen Company Profile

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.

Earnings History and Estimates for AmerisourceBergen (NYSE:ABC)

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