AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) – Equities researchers at Leerink Swann lifted their Q1 2018 earnings estimates for AmerisourceBergen Corporation (Holding Co) in a research note issued to investors on Monday. Leerink Swann analyst D. Larsen now anticipates that the company will earn $1.49 per share for the quarter, up from their previous forecast of $1.44. Leerink Swann also issued estimates for AmerisourceBergen Corporation (Holding Co)’s FY2019 earnings at $7.00 EPS.

ABC has been the subject of several other research reports. Zacks Investment Research lowered shares of AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Vetr raised shares of AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “buy” rating and set a $92.52 price target for the company in a research report on Tuesday, April 11th. Jefferies Group LLC began coverage on shares of AmerisourceBergen Corporation (Holding Co) in a research report on Wednesday, May 17th. They issued a “hold” rating and a $95.00 price target for the company. Mizuho increased their price target on shares of AmerisourceBergen Corporation (Holding Co) from $83.00 to $93.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 30th. Finally, Bank of America Corporation lowered shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $95.76 to $94.00 in a research report on Friday, June 30th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. AmerisourceBergen Corporation (Holding Co) presently has an average rating of “Buy” and an average target price of $93.64.

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Shares of AmerisourceBergen Corporation (ABC) traded down 1.08% on Thursday, hitting $80.83. The company’s stock had a trading volume of 2,879,327 shares. The stock’s 50 day moving average price is $93.75 and its 200 day moving average price is $89.47. The stock has a market capitalization of $17.65 billion, a P/E ratio of 15.69 and a beta of 0.91. AmerisourceBergen Corporation has a 52 week low of $68.38 and a 52 week high of $97.85.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.06. The company had revenue of $38.71 billion for the quarter, compared to analysts’ expectations of $39.13 billion. AmerisourceBergen Corporation (Holding Co) had a return on equity of 60.21% and a net margin of 0.77%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.37 earnings per share.

Hedge funds have recently added to or reduced their stakes in the stock. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in AmerisourceBergen Corporation (Holding Co) during the fourth quarter valued at approximately $423,000. Hennessy Advisors Inc. bought a new stake in AmerisourceBergen Corporation (Holding Co) during the first quarter valued at approximately $2,036,000. Hefty Wealth Partners bought a new stake in AmerisourceBergen Corporation (Holding Co) during the first quarter valued at approximately $1,072,000. Donald L. Hagan LLC boosted its stake in AmerisourceBergen Corporation (Holding Co) by 8.5% in the first quarter. Donald L. Hagan LLC now owns 14,499 shares of the company’s stock valued at $1,283,000 after buying an additional 1,132 shares during the period. Finally, OMERS ADMINISTRATION Corp boosted its stake in AmerisourceBergen Corporation (Holding Co) by 20.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 1,560,620 shares of the company’s stock valued at $138,115,000 after buying an additional 266,670 shares during the period. 68.82% of the stock is currently owned by institutional investors and hedge funds.

In other news, Chairman Steven H. Collis sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $94.76, for a total transaction of $1,421,400.00. Following the completion of the sale, the chairman now owns 253,876 shares of the company’s stock, valued at $24,057,289.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 27.40% of the company’s stock.

About AmerisourceBergen Corporation (Holding Co)

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.

Earnings History and Estimates for AmerisourceBergen Corporation (Holding Co) (NYSE:ABC)

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