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AmerisourceBergen (NYSE:ABC) Updates FY 2022 Earnings Guidance

Financial News Live · Aug 12, 2022 16:41

AmerisourceBergen (NYSE:ABC – Get Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $10.90-$11.10 for the period, compared to the consensus earnings per share estimate of $10.93. The company issued revenue guidance of -.

AmerisourceBergen Stock Performance

ABC traded up $2.28 during trading on Friday, hitting $150.50. 33,610 shares of the stock were exchanged, compared to its average volume of 1,001,472. The firm has a market capitalization of $31.52 billion, a P/E ratio of 17.08, a PEG ratio of 1.61 and a beta of 0.48. AmerisourceBergen has a 1-year low of $113.68 and a 1-year high of $167.19. The stock has a fifty day moving average price of $143.22 and a two-hundred day moving average price of $147.72. The company has a quick ratio of 0.55, a current ratio of 0.92 and a debt-to-equity ratio of 8.96.

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AmerisourceBergen (NYSE:ABC – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $2.62 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.06. The firm had revenue of $60.06 billion for the quarter, compared to analyst estimates of $59.03 billion. AmerisourceBergen had a return on equity of 350.60% and a net margin of 0.78%. AmerisourceBergen's quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.16 earnings per share. As a group, sell-side analysts predict that AmerisourceBergen will post 10.99 earnings per share for the current year.

AmerisourceBergen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 29th. Investors of record on Monday, August 15th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Friday, August 12th. This represents a $1.84 annualized dividend and a yield of 1.22%. AmerisourceBergen's payout ratio is currently 21.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ABC shares. StockNews.com upgraded AmerisourceBergen from a buy rating to a strong-buy rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised AmerisourceBergen from a hold rating to a buy rating and increased their target price for the stock from $167.00 to $178.00 in a report on Tuesday, June 7th. Barclays raised AmerisourceBergen from an equal weight rating to an overweight rating and raised their price target for the stock from $175.00 to $182.00 in a report on Thursday, May 26th. Robert W. Baird raised their price target on AmerisourceBergen from $179.00 to $187.00 in a report on Thursday, May 5th. Finally, Credit Suisse Group cut their price target on AmerisourceBergen from $180.00 to $175.00 and set an outperform rating on the stock in a report on Thursday, August 4th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $173.45.

Insider Activity

In other news, CEO Steven H. Collis sold 11,480 shares of AmerisourceBergen stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $141.22, for a total transaction of $1,621,205.60. Following the transaction, the chief executive officer now directly owns 205,178 shares in the company, valued at approximately $28,975,237.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 34,440 shares of company stock worth $4,911,374. 28.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On AmerisourceBergen

Large investors have recently modified their holdings of the stock. Zions Bancorporation N.A. boosted its stake in shares of AmerisourceBergen by 683.3% during the 1st quarter. Zions Bancorporation N.A. now owns 893 shares of the company's stock worth $138,000 after acquiring an additional 779 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of AmerisourceBergen by 57.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,176 shares of the company's stock worth $182,000 after acquiring an additional 428 shares in the last quarter. Mather Group LLC. bought a new stake in shares of AmerisourceBergen during the 1st quarter worth $203,000. Lido Advisors LLC bought a new stake in shares of AmerisourceBergen during the 1st quarter worth $203,000. Finally, Laurel Wealth Advisors Inc. bought a new stake in shares of AmerisourceBergen during the 1st quarter worth $205,000. 64.17% of the stock is owned by institutional investors.

About AmerisourceBergen

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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.