AmerisourceBergen (NYSE: ABC) Releases FY 2022 Earnings Guidance

AmerisourceBergen (NYSE: ABC – Get Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $ 10.80- $ 11.05 for the period, compared to the consensus estimate of $ 10.95. The company issued revenue guidance of -.

Shares of ABC stock opened at $ 143.26 on Wednesday. The business’s 50 day simple moving average is $ 152.99 and its 200 day simple moving average is $ 144.47. AmerisourceBergen has a one year low of $ 111.34 and a one year high of $ 167.19. The stock has a market capitalization of $ 30.01 billion, a PE ratio of 17.47, a PEG ratio of 1.60 and a beta of 0.45. The company has a debt-to-equity ratio of 5.13, a current ratio of 0.92 and a quick ratio of 0.56.

AmerisourceBergen (NYSE: ABC – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $ 3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $ 2.99 by $ 0.23. The firm had revenue of $ 57.72 billion for the quarter, compared to analysts’ expectations of $ 57.26 billion. AmerisourceBergen had a return on equity of 349.46% and a net margin of 0.75%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business earned $ 2.53 EPS. As a group, research analysts expect that AmerisourceBergen will post 10.95 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Monday, May 16th were issued a dividend of $ 0.46 per share. This represents a $ 1.84 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, May 13th. AmerisourceBergen’s payout ratio is 22.44%.

A number of equities analysts have issued reports on the company. UBS Group increased their target price on AmerisourceBergen from $ 144.00 to $ 174.00 and gave the stock a buy rating in a report on Monday, June 13th. Cowen cut their target price on AmerisourceBergen from $ 171.00 to $ 170.00 in a report on Thursday, June 9th. Barclays upgraded AmerisourceBergen from an equal weight rating to an overweight rating and increased their target price for the stock from $ 175.00 to $ 182.00 in a report on Thursday, May 26th. Mizuho increased their target price on AmerisourceBergen from $ 139.00 to $ 162.00 in a report on Thursday, May 5th. Finally, Cowen cut their target price on AmerisourceBergen from $ 171.00 to $ 170.00 and set an outperform rating on the stock in a report on Thursday, June 9th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $ 169.82.

In other news, CEO Steven H. Collis sold 11,480 shares of the firm’s stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $ 162.11, for a total transaction of $ 1,861,022.80. Following the completion of the sale, the chief executive officer now directly owns 205,178 shares of the company’s stock, valued at approximately $ 33,261,405.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 6,000,000 shares of the firm’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $ 150.00, for a total value of $ 900,000,000.00. Following the sale, the insider now directly owns 52,854,867 shares of the company’s stock, valued at $ 7,928,230,050. The disclosure for this sale can be found here. Insiders sold a total of 6,071,559 shares of the company’s stock valued at $ 910,983,170 over the last three months. 28.80% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Kinneret Advisory LLC grew its stake in shares of AmerisourceBergen by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 4,406 shares of the company’s stock worth $ 682,000 after acquiring an additional 98 shares during the period. Wealthfront Advisers LLC grew its stake in shares of AmerisourceBergen by 1.8% during the 1st quarter. Wealthfront Advisers LLC now owns 8,753 shares of the company’s stock worth $ 1,354,000 after acquiring an additional 151 shares during the period. Advisors Asset Management Inc. its stake in shares of AmerisourceBergen grew by 41.9% during the 4th quarter. Advisors Asset Management Inc. now owns 748 shares of the company’s stock worth $ 99,000 after acquiring an additional 221 shares during the period. KB Financial Partners LLC bought a new position in shares of AmerisourceBergen during the 4th quarter worth $ 31,000. Finally, Wetherby Asset Management Inc. boosted its stake in AmerisourceBergen by 5.3% in the 1st quarter. Wetherby Asset Management Inc. now owns 5,182 shares of the company’s stock worth $ 802,000 after purchasing an additional 259 shares during the period. Institutional investors own 64.17% of the company’s stock.

About AmerisourceBergen (Get Rating)

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, 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 alternate site pharmacies, and other customers.

Recommended Stories

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $ 1,000 in AmerisourceBergen right now?

Before you consider AmerisourceBergen, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on … and AmerisourceBergen wasn’t on the list.

While AmerisourceBergen currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker