AmerisourceBergen (NYSE:ABC) – Equities researchers at Leerink Swann decreased their Q3 2018 earnings estimates for AmerisourceBergen in a report released on Wednesday, May 2nd. Leerink Swann analyst D. Larsen now expects that the company will earn $1.43 per share for the quarter, down from their prior forecast of $1.49. Leerink Swann also issued estimates for AmerisourceBergen’s Q4 2018 earnings at $1.58 EPS, FY2018 earnings at $6.50 EPS, Q1 2019 earnings at $1.66 EPS, Q3 2019 earnings at $1.63 EPS and Q4 2019 earnings at $1.74 EPS.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Thursday, April 12th. Royal Bank of Canada set a $101.00 target price on AmerisourceBergen and gave the company a “hold” rating in a research note on Monday, April 2nd. Barclays decreased their target price on AmerisourceBergen from $104.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 27th. Argus boosted their target price on AmerisourceBergen from $93.96 to $115.00 and gave the company a “buy” rating in a research note on Monday, March 5th. Finally, Cowen reissued a “buy” rating and issued a $108.00 target price on shares of AmerisourceBergen in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. AmerisourceBergen has an average rating of “Buy” and a consensus price target of $102.72.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Wednesday, May 2nd. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.13. AmerisourceBergen had a return on equity of 51.04% and a net margin of 0.57%. The business had revenue of $41.03 billion during the quarter, compared to analysts’ expectations of $40.56 billion. During the same period in the previous year, the firm earned $1.77 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. raised its holdings in AmerisourceBergen by 9.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 5,580 shares of the company’s stock worth $512,000 after acquiring an additional 500 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in AmerisourceBergen by 8.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,298 shares of the company’s stock worth $579,000 after acquiring an additional 507 shares in the last quarter. Bray Capital Advisors raised its holdings in AmerisourceBergen by 2.5% during the fourth quarter. Bray Capital Advisors now owns 21,890 shares of the company’s stock worth $2,010,000 after acquiring an additional 525 shares in the last quarter. River Wealth Advisors LLC raised its holdings in AmerisourceBergen by 1.6% during the first quarter. River Wealth Advisors LLC now owns 34,764 shares of the company’s stock worth $2,997,000 after acquiring an additional 561 shares in the last quarter. Finally, Meadow Creek Investment Management LLC raised its holdings in AmerisourceBergen by 2.2% during the fourth quarter. Meadow Creek Investment Management LLC now owns 27,216 shares of the company’s stock worth $2,499,000 after acquiring an additional 576 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.
In related news, CFO Tim G. Guttman sold 11,600 shares of the company’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $87.24, for a total transaction of $1,011,984.00. Following the sale, the chief financial officer now owns 56,472 shares in the company, valued at $4,926,617.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dale Danilewitz sold 21,500 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $97.30, for a total value of $2,091,950.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,870 shares of company stock worth $12,733,668. Corporate insiders own 27.30% of the company’s stock.
AmerisourceBergen Company Profile
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.
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