AmerisourceBergen Corporation (NYSE:ABC) saw an upside of 0.67% to close Monday at $186.58 after adding $1.25 on the day. The 5-day average trading volume is 3,721,500 shares of the company’s common stock. It has gained $194.37 in the past week and touched a new high 3 times within the past 5 days. An average of 1,779,210 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,593,728.
ABC’s 1-month performance is -2.24% or -$4.28 on its low of $184.00 reached on 08/04/23. The company’s shares have touched a 52-week low of $135.14 and high of $194.79, with the stock’s rally to the 52-week high happening on 07/21/23. YTD, ABC has achieved 12.59% or $20.87 and has reached a new high 28 times. However, the current price is down -4.21% from the 52-week high price.
Insider Transactions
ABC stock investors last saw insider trading activity on Aug 03.Walgreens Boots Alliance, Inc. (10% Owner) most recently sold 1,320,858 shares at $189.27 per share on Aug 03. This transaction cost the insider $250,000,115. Chairman, President & CEO, COLLIS STEVEN H, sold 10,499 shares at a price of $192.87 on Jul 11. Then, on Jun 22, Executive Vice President Clark Gina sold 27,542 shares at a price of $186.84 per share. This transaction amounted to $5,146,085.
Valuation Metrics
ABC stock has a beta of 0.55. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.15 while the price-to-book (PB) in the most recent quarter is 55.04, with the price to cash flow ratio at 16.26.
AmerisourceBergen Corporation’s quick ratio for the period ended June 29 was 0.50, with the current ratio over the same period at 0.90. As well, the company’s long term debt to equity for the quarter ending June 29 was 6.06, while the total debt to equity was 7.32. In terms of profitability, the gross margin trailing 12 months is 3.40%. The trailing 12-month EBITDA margin is 1.45% while for the period ending June 29, AmerisourceBergen Corporation’s operating margin was 0.90%. The firm’s gross profit as reported stood at $8.3 billion against revenue of $238.59 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 15.14% to $479.58 million, while revenue of $435.4 million was 9.21% off the previous quarter. Analysts expected ABC to announce $2.82 per share in earnings in its latest quarter, but it posted $2.92, representing a 3.50% surprise. EBITDA for the quarter stood at more than $947.14 million. ABC stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 60.26 billion, with total debt at $6.35 billion. Shareholders hold equity totaling $202.18 million.
Let’s look briefly at AmerisourceBergen Corporation (ABC) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 40.76% to suggest the stock is trending Neutral, with historical volatility in this time period at 22.17%.
The stock’s 5-day moving average is $188.76, reflecting a -0.17% or -$0.32 change from its current price. ABC is currently trading -3.24% above its 20-day SMA, +24.98% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +9.07% and SMA200 by+29.58%.
Stochastic %K and %D was 34.78% and 48.60% and the average true range (ATR) pointed at 3.39. The RSI (14) points at 45.29%, while the 14-day stochastic is at 23.91% with the period’s ATR at 3.14. The stock’s 9-day MACD Oscillator is pointing at -0.28 and -1.78 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for AmerisourceBergen Corporation (NYSE: ABC), Citigroup launched coverage with a Buy rating. Analysts offering their rating for ABC stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate ABC as a “sell,”, while 5 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 1 rates the stock as overweight while 10 have offered a “buy” rating.
What is ABC’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $190.00 and a high of $225.00, with their median price target at $208.50. Looking at these predictions, the average price target given by analysts is for AmerisourceBergen Corporation (ABC) stock is $208.00.
