AmerisourceBergen Corp. (NYSE:ABC) – Analysts at Leerink Swann cut their Q1 2019 earnings per share (EPS) estimates for AmerisourceBergen in a note issued to investors on Thursday, September 20th. Leerink Swann analyst D. Larsen now expects that the company will earn $1.65 per share for the quarter, down from their prior forecast of $1.67. Leerink Swann also issued estimates for AmerisourceBergen’s Q2 2019 earnings at $2.21 EPS.
ABC has been the subject of a number of other reports. ValuEngine lowered shares of AmerisourceBergen from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Robert W. Baird lowered shares of AmerisourceBergen from an “outperform” rating to a “neutral” rating in a report on Friday, July 20th. Mizuho restated a “hold” rating and issued a $90.00 price objective on shares of AmerisourceBergen in a report on Sunday, August 12th. Finally, Morgan Stanley lowered 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. AmerisourceBergen presently has an average rating of “Hold” and a consensus price target of $101.80.
AmerisourceBergen (NYSE:ABC) last announced its earnings results on Thursday, August 2nd. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.08. AmerisourceBergen had a net margin of 0.69% and a return on equity of 48.65%. The business had revenue of $43.14 billion during the quarter, compared to analyst estimates of $43.05 billion. During the same period in the previous year, the business posted $1.43 earnings per share. AmerisourceBergen’s revenue for the quarter was up 11.4% on a year-over-year basis.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal London Asset Management Ltd. purchased a new position in shares of AmerisourceBergen in the second quarter worth $5,740,000. Mainstay Capital Management LLC ADV increased its stake in shares of AmerisourceBergen by 20.0% in the second quarter. Mainstay Capital Management LLC ADV now owns 11,536 shares of the company’s stock worth $984,000 after buying an additional 1,920 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of AmerisourceBergen by 379.0% in the second quarter. Public Employees Retirement System of Ohio now owns 314,973 shares of the company’s stock worth $26,858,000 after buying an additional 249,221 shares during the period. Mount Yale Investment Advisors LLC increased its stake in shares of AmerisourceBergen by 33.0% in the second quarter. Mount Yale Investment Advisors LLC now owns 8,136 shares of the company’s stock worth $694,000 after buying an additional 2,018 shares during the period. Finally, Arbor Wealth Management LLC purchased a new position in shares of AmerisourceBergen in the second quarter worth $1,660,000. 66.64% of the stock is currently owned by institutional investors.
In related news, Chairman Steven H. Collis sold 21,350 shares of AmerisourceBergen stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $84.63, for a total value of $1,806,850.50. Following the transaction, the chairman now directly owns 287,925 shares of the company’s stock, valued at $24,367,092.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kathy H. Gaddes sold 2,652 shares of AmerisourceBergen stock in a transaction on Friday, July 20th. The stock was sold at an average price of $85.00, for a total transaction of $225,420.00. Following the completion of the transaction, the executive vice president now directly owns 1,863 shares in the company, valued at $158,355. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,561 shares of company stock valued at $8,786,849. Company insiders own 27.30% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Monday, August 20th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 17th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.70%. AmerisourceBergen’s payout ratio is 25.85%.
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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