Q4 2023 EPS Estimates for AmerisourceBergen Co. (NYSE:ABC) Lowered by Analyst

AmerisourceBergen Co. (NYSE:ABC – Get Rating) – Stock analysts at Zacks Research dropped their Q4 2023 earnings estimates for shares of AmerisourceBergen in a research report issued on Monday, May 15th. Zacks Research analyst I. Bandyopadhyay now anticipates that the company will earn $2.80 per share for the quarter, down from their previous forecast of $2.82. The consensus estimate for AmerisourceBergen’s current full-year earnings is $11.89 per share. Zacks Research also issued estimates for AmerisourceBergen’s Q1 2024 earnings at $2.65 EPS, Q3 2024 earnings at $2.76 EPS and FY2024 earnings at $12.20 EPS.

Several other research analysts also recently weighed in on ABC. Mizuho upped their price target on AmerisourceBergen from $170.00 to $174.00 in a research note on Wednesday, May 3rd. Deutsche Bank Aktiengesellschaft increased their price target on AmerisourceBergen from $174.00 to $182.00 in a report on Wednesday, May 3rd. StockNews.com initiated coverage on AmerisourceBergen in a report on Thursday. They set a “strong-buy” rating on the stock. Citigroup assumed coverage on AmerisourceBergen in a report on Friday, March 31st. They set a “buy” rating and a $185.00 price target on the stock. Finally, UBS Group increased their price target on AmerisourceBergen from $184.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AmerisourceBergen currently has an average rating of “Moderate Buy” and a consensus price target of $181.62.

AmerisourceBergen Trading Up 0.1 %

Shares of NYSE:ABC opened at $174.79 on Wednesday. AmerisourceBergen has a 12-month low of $135.14 and a 12-month high of $175.35. The company has a current ratio of 0.89, a quick ratio of 0.51 and a debt-to-equity ratio of 9.13. The company has a market cap of $35.39 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 1.62 and a beta of 0.52. The stock has a 50 day moving average of $162.98 and a 200 day moving average of $162.62.

AmerisourceBergen (NYSE:ABC – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.29 by $0.21. The company had revenue of $63.46 billion during the quarter, compared to the consensus estimate of $60.40 billion. AmerisourceBergen had a return on equity of 809.53% and a net margin of 0.65%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.22 EPS.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC grew its holdings in AmerisourceBergen by 10.8% in the first quarter. Advisory Services Network LLC now owns 10,807 shares of the company’s stock valued at $1,730,000 after purchasing an additional 1,051 shares during the period. Rockefeller Capital Management L.P. grew its holdings in AmerisourceBergen by 1.7% in the first quarter. Rockefeller Capital Management L.P. now owns 41,687 shares of the company’s stock valued at $6,673,000 after purchasing an additional 692 shares during the period. Providence Capital Advisors LLC grew its holdings in AmerisourceBergen by 9,506.6% in the first quarter. Providence Capital Advisors LLC now owns 48,033 shares of the company’s stock valued at $300,000 after purchasing an additional 47,533 shares during the period. Chevy Chase Trust Holdings LLC grew its holdings in AmerisourceBergen by 0.9% in the first quarter. Chevy Chase Trust Holdings LLC now owns 94,729 shares of the company’s stock valued at $15,167,000 after purchasing an additional 880 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in AmerisourceBergen in the first quarter valued at approximately $44,000. 84.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Gina Clark sold 1,924 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $156.22, for a total value of $300,567.28. Following the completion of the transaction, the executive vice president now directly owns 26,733 shares in the company, valued at $4,176,229.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Gina Clark sold 1,924 shares of AmerisourceBergen stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $156.22, for a total transaction of $300,567.28. Following the completion of the transaction, the executive vice president now directly owns 26,733 shares in the company, valued at $4,176,229.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Steven H. Collis sold 10,499 shares of AmerisourceBergen stock in a transaction that occurred on Tuesday, April 11th. The shares were sold at an average price of $167.34, for a total value of $1,756,902.66. Following the transaction, the chief executive officer now owns 257,967 shares of the company’s stock, valued at $43,168,197.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 326,213 shares of company stock valued at $55,412,200. 20.10% of the stock is currently owned by corporate insiders.

AmerisourceBergen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 30th. Shareholders of record on Friday, May 12th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, May 11th. AmerisourceBergen’s dividend payout ratio is presently 24.94%.

About AmerisourceBergen

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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.