Leerink Swann Weighs in on AmerisourceBergen Corp.’s Q2 2018 Earnings (ABC)
AmerisourceBergen Corp. (NYSE:ABC) – Leerink Swann boosted their Q2 2018 earnings per share estimates for AmerisourceBergen in a research note issued on Tuesday. Leerink Swann analyst D. Larsen now expects that the company will earn $1.91 per share for the quarter, up from their previous estimate of $1.75. Leerink Swann has a “Buy” rating and a $105.00 price target on the stock. Leerink Swann also issued estimates for AmerisourceBergen’s Q4 2018 earnings at $1.65 EPS, FY2018 earnings at $6.60 EPS, Q1 2019 earnings at $1.69 EPS, Q2 2019 earnings at $2.15 EPS, Q3 2019 earnings at $1.60 EPS, Q4 2019 earnings at $1.75 EPS, FY2019 earnings at $7.20 EPS and FY2020 earnings at $7.80 EPS.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.20. AmerisourceBergen had a net margin of 0.66% and a return on equity of 53.65%. The company had revenue of $40.47 billion during the quarter, compared to analysts’ expectations of $40.42 billion. During the same period in the previous year, the company earned $1.36 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year.
Shares of AmerisourceBergen (NYSE:ABC) opened at $89.19 on Thursday. AmerisourceBergen has a 12 month low of $71.90 and a 12 month high of $106.27. The stock has a market cap of $20,110.70, a price-to-earnings ratio of 19.22, a PEG ratio of 1.46 and a beta of 1.02. The company has a current ratio of 0.95, a quick ratio of 0.48 and a debt-to-equity ratio of 1.61.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 5th. Investors of record on Tuesday, February 20th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.52 dividend on an annualized basis and a yield of 1.70%. AmerisourceBergen’s dividend payout ratio (DPR) is 32.76%.
In related news, SVP Lazarus Krikorian sold 16,427 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $84.86, for a total transaction of $1,393,995.22. Following the completion of the sale, the senior vice president now directly owns 23,360 shares of the company’s stock, valued at approximately $1,982,329.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dale Danilewitz sold 4,459 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $78.30, for a total transaction of $349,139.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 204,934 shares of company stock valued at $18,427,430. 27.30% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Vantage Investment Advisors LLC purchased a new position in AmerisourceBergen in the 4th quarter valued at about $156,000. Intl Fcstone Inc. purchased a new position in AmerisourceBergen in the 2nd quarter valued at about $201,000. TRUE Private Wealth Advisors purchased a new position in AmerisourceBergen in the 4th quarter valued at about $203,000. Zeke Capital Advisors LLC purchased a new position in AmerisourceBergen in the 3rd quarter valued at about $210,000. Finally, IBM Retirement Fund purchased a new position in AmerisourceBergen in the 4th quarter valued at about $216,000. 67.57% of the stock is owned by hedge funds and other institutional investors.
AmerisourceBergen Company Profile
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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