AmerisourceBergen (ABC) Issues Earnings Results, Beats Expectations By $0.08 EPS

AmerisourceBergen (NYSE:ABC) posted its quarterly earnings data on Thursday. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.08, Bloomberg Earnings reports. AmerisourceBergen had a net margin of 0.57% and a return on equity of 51.04%. The business had revenue of $43.14 billion during the quarter, compared to the consensus estimate of $43.05 billion. During the same quarter last year, the company posted $1.43 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year.

Shares of AmerisourceBergen traded down $0.51, hitting $78.98, during trading hours on Thursday, according to Marketbeat.com. The company’s stock had a trading volume of 3,712,100 shares, compared to its average volume of 1,709,452. The company has a market capitalization of $17.99 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.27 and a beta of 1.00. The company has a quick ratio of 0.48, a current ratio of 0.94 and a debt-to-equity ratio of 1.38. AmerisourceBergen has a 52-week low of $71.90 and a 52-week high of $106.27.

A number of research firms recently issued reports on ABC. ValuEngine downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Robert W. Baird restated a “neutral” rating and set a $94.00 price objective on shares of AmerisourceBergen in a report on Friday, July 20th. Morgan Stanley decreased their price objective on shares of AmerisourceBergen from $97.00 to $88.00 and set an “equal weight” rating for the company in a report on Tuesday, July 3rd. Finally, Zacks Investment Research downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Thursday, April 12th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $101.81.

In other news, insider Kathy H. Gaddes sold 2,652 shares of AmerisourceBergen stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $92.03, for a total value of $244,063.56. Following the completion of the transaction, the insider now owns 3,891 shares in the company, valued at $358,088.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert P. Mauch sold 1,000 shares of AmerisourceBergen stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $90.00, for a total transaction of $90,000.00. The disclosure for this sale can be found here. Insiders sold 102,682 shares of company stock valued at $8,546,719 in the last quarter. Corporate insiders own 27.30% of the company’s stock.

About AmerisourceBergen

AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.

See Also: Diversification in Investing

Earnings History for AmerisourceBergen (NYSE:ABC)

Receive News & Ratings for AmerisourceBergen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply