AmerisourceBergen (ABC) Set to Announce Quarterly Earnings on Wednesday

AmerisourceBergen (NYSE:ABCGet Rating) will be announcing its earnings results before the market opens on Wednesday, February 1st. Analysts expect the company to announce earnings of $2.59 per share for the quarter. AmerisourceBergen has set its FY23 guidance at $11.30 to $11.60 EPS and its FY 2023 guidance at $11.30-$11.60 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

AmerisourceBergen (NYSE:ABCGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.02. The company had revenue of $61.17 billion for the quarter, compared to analysts’ expectations of $60.56 billion. AmerisourceBergen had a net margin of 0.71% and a return on equity of 444.46%. AmerisourceBergen’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.39 EPS. On average, analysts expect AmerisourceBergen to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

AmerisourceBergen Price Performance

Shares of NYSE ABC opened at $161.43 on Wednesday. The firm has a market capitalization of $33.20 billion, a P/E ratio of 20.08, a PEG ratio of 1.63 and a beta of 0.55. AmerisourceBergen has a one year low of $127.98 and a one year high of $174.63. The company’s fifty day moving average is $165.96 and its two-hundred day moving average is $152.87. The company has a debt-to-equity ratio of 64.99, a quick ratio of 0.55 and a current ratio of 0.91.

AmerisourceBergen Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 28th. Shareholders of record on Monday, November 14th were given a dividend of $0.485 per share. This is a positive change from AmerisourceBergen’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, November 10th. AmerisourceBergen’s payout ratio is presently 24.13%.

Insider Buying and Selling at AmerisourceBergen

In other AmerisourceBergen news, CAO Lazarus Krikorian sold 2,218 shares of the company’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $169.24, for a total value of $375,374.32. Following the transaction, the chief accounting officer now directly owns 20,007 shares in the company, valued at approximately $3,385,984.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other AmerisourceBergen news, CEO Steven H. Collis sold 10,499 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $164.28, for a total value of $1,724,775.72. Following the transaction, the chief executive officer now directly owns 257,967 shares in the company, valued at approximately $42,378,818.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Lazarus Krikorian sold 2,218 shares of the company’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $169.24, for a total transaction of $375,374.32. Following the completion of the transaction, the chief accounting officer now owns 20,007 shares in the company, valued at $3,385,984.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,279,532 shares of company stock worth $3,043,889,702. Corporate insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ABC. Clearstead Advisors LLC increased its stake in shares of AmerisourceBergen by 29.4% during the 3rd quarter. Clearstead Advisors LLC now owns 554 shares of the company’s stock valued at $75,000 after acquiring an additional 126 shares during the last quarter. Zions Bancorporation N.A. increased 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 valued at $138,000 after acquiring an additional 779 shares during the last quarter. Advisors Asset Management Inc. increased 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 valued at $182,000 after acquiring an additional 428 shares during the last quarter. Lido Advisors LLC acquired a new position in shares of AmerisourceBergen during the 1st quarter valued at about $203,000. Finally, Mather Group LLC. acquired a new position in shares of AmerisourceBergen during the 1st quarter valued at about $203,000. Institutional investors and hedge funds own 84.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. TheStreet lowered shares of AmerisourceBergen from a “b-” rating to a “c” rating in a research report on Tuesday, November 29th. Bank of America upgraded shares of AmerisourceBergen from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $160.00 to $169.00 in a research report on Tuesday, October 11th. Robert W. Baird boosted their target price on shares of AmerisourceBergen from $195.00 to $199.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 11th. StockNews.com upgraded shares of AmerisourceBergen from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 20th. Finally, Cowen decreased their price objective on shares of AmerisourceBergen from $170.00 to $169.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 18th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $176.25.

AmerisourceBergen Company Profile

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AmerisourceBergen Corp. engages in the provision of pharmaceutical products and business solutions that improve access to care. It operates through the Pharmaceutical Distribution Services and Other segments. The Pharmaceutical Distribution Services segment distributes an offering of brand-name, specialty brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, and long-term care and alternate site pharmacies.

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Earnings History for AmerisourceBergen (NYSE:ABC)

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