AmerisourceBergen (NYSE:ABC) Updates FY 2022 Earnings Guidance

AmerisourceBergen (NYSE:ABCGet Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided EPS guidance of $10.80-$11.05 for the period, compared to the consensus EPS estimate of $10.95. The company issued revenue guidance of -.AmerisourceBergen also updated its FY22 guidance to $10.85-11.05 EPS.

A number of research firms have recently weighed in on ABC. Mizuho raised their price target on shares of AmerisourceBergen from $139.00 to $162.00 in a report on Thursday, May 5th. Morgan Stanley decreased their target price on shares of AmerisourceBergen from $178.00 to $175.00 and set an equal weight rating on the stock in a research note on Friday, May 27th. StockNews.com upgraded AmerisourceBergen from a buy rating to a strong-buy rating in a research report on Friday, May 6th. Deutsche Bank Aktiengesellschaft decreased their target price on AmerisourceBergen from $168.00 to $167.00 in a research note on Wednesday, May 25th. Finally, Barclays upgraded AmerisourceBergen from an equal weight rating to an overweight rating and lifted their price objective for the company from $175.00 to $182.00 in a research note on Thursday, May 26th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AmerisourceBergen currently has a consensus rating of Buy and a consensus price target of $168.29.

Shares of ABC stock traded down $0.87 during mid-day trading on Wednesday, hitting $153.92. 1,044 shares of the stock traded hands, compared to its average volume of 1,851,104. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.56 and a current ratio of 0.92. AmerisourceBergen has a twelve month low of $111.34 and a twelve month high of $167.19. The firm has a market cap of $32.24 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 1.71 and a beta of 0.45. The company’s 50-day simple moving average is $156.79 and its 200-day simple moving average is $141.99.

AmerisourceBergen (NYSE:ABCGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.23. The business had revenue of $57.72 billion for the quarter, compared to the consensus estimate of $57.26 billion. AmerisourceBergen had a net margin of 0.75% and a return on equity of 349.46%. AmerisourceBergen’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the company posted $2.53 earnings per share. Analysts forecast that AmerisourceBergen will post 10.94 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Monday, May 16th were paid a $0.46 dividend. The ex-dividend date of this dividend was Friday, May 13th. This represents a $1.84 dividend on an annualized basis and a yield of 1.20%. AmerisourceBergen’s payout ratio is presently 22.44%.

In other AmerisourceBergen news, CEO Steven H. Collis sold 11,480 shares of the firm’s stock in a transaction on Tuesday, March 8th. The stock was sold at an average price of $144.97, for a total value of $1,664,255.60. The sale was disclosed in a filing with the SEC, which is available at this link. 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 completion of the sale, the insider now directly owns 52,854,867 shares in the company, valued at approximately $7,928,230,050. The disclosure for this sale can be found here. Insiders sold 6,078,379 shares of company stock worth $912,048,947 over the last quarter. 28.80% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. KB Financial Partners LLC purchased a new position in shares of AmerisourceBergen during the 4th quarter valued at about $31,000. Zullo Investment Group Inc. purchased a new position in shares of AmerisourceBergen during the 4th quarter valued at approximately $39,000. Advisors Asset Management Inc. increased its holdings in shares of AmerisourceBergen by 41.9% during the 4th quarter. Advisors Asset Management Inc. now owns 748 shares of the company’s stock valued at $99,000 after purchasing an additional 221 shares in the last quarter. Zions Bancorporation N.A. lifted its stake in shares of AmerisourceBergen by 683.3% in the 1st quarter. Zions Bancorporation N.A. now owns 893 shares of the company’s stock valued at $138,000 after purchasing an additional 779 shares during the period. Finally, Belpointe Asset Management LLC purchased a new stake in AmerisourceBergen during the fourth quarter worth $180,000. Institutional investors and hedge funds own 64.17% of the company’s stock.

AmerisourceBergen Company Profile (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.

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