AmerisourceBergen (NYSE:ABC) updated its FY 2019 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $7.00-7.10 for the period, compared to the Thomson Reuters consensus estimate of $6.85. AmerisourceBergen also updated its FY19 guidance to $7.00-7.10 EPS.
ABC has been the topic of several analyst reports. ValuEngine upgraded shares of AmerisourceBergen from a sell rating to a hold rating in a research report on Wednesday, May 22nd. TheStreet upgraded shares of AmerisourceBergen from a c+ rating to a b rating in a research report on Thursday. Argus reduced their price target on shares of AmerisourceBergen from $115.00 to $100.00 and set a buy rating on the stock in a research report on Monday, June 3rd. Guggenheim initiated coverage on shares of AmerisourceBergen in a research report on Thursday, April 11th. They set a buy rating on the stock. Finally, Bank of America lowered shares of AmerisourceBergen from a buy rating to an underperform rating and reduced their price target for the stock from $95.00 to $76.00 in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $88.25.
NYSE:ABC traded down $1.26 on Friday, hitting $90.44. The company had a trading volume of 1,252,666 shares, compared to its average volume of 1,239,000. The stock has a market cap of $19.27 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.71 and a beta of 0.97. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 1.43. The company’s 50 day moving average price is $86.67. AmerisourceBergen has a 52 week low of $69.36 and a 52 week high of $94.85.
In other news, insider Dale Danilewitz sold 5,702 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $77.61, for a total transaction of $442,532.22. Following the completion of the transaction, the insider now owns 7,330 shares of the company’s stock, valued at $568,881.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 107,826 shares of the firm’s stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $86.18, for a total transaction of $9,292,444.68. Following the transaction, the chairman now directly owns 242,405 shares of the company’s stock, valued at approximately $20,890,462.90. The disclosure for this sale can be found here. In the last three months, insiders sold 163,179 shares of company stock valued at $13,907,781. 27.80% of the stock is owned by insiders.
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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