AmerisourceBergen Corp (ABC): Today's Featured Wholesale Loser
AmerisourceBergen (ABC) pushed the Wholesale industry lower today making it today's featured Wholesale loser. The industry as a whole closed the day up 0.4%. By the end of trading, AmerisourceBergen fell 23 cents (-0.6%) to $37.01 on average volume. Throughout the day, 2.1 million shares of AmerisourceBergen exchanged hands as compared to its average daily volume of 2.6 million shares. The stock ranged in price between $36.85-$37.65 after having opened the day at $37.60 as compared to the previous trading day's close of $37.24. Other company's within the Wholesale industry that declined today were: Grupo Casa Saba S.A.B. de C.V (SAB), down 9.6%, China Armco Metals Inc (CNAM), down 5.5%, Shengkai Innovations Inc (VALV), down 4.5%, and SMF Energy Corporation (FUEL), down 2.7%. AmerisourceBergen Corporation, a pharmaceutical services company, provides drug distribution and related services to healthcare providers and pharmaceutical manufacturers in the United States, the United Kingdom, and Canada. AmerisourceBergen has a market cap of $9.6 billion and is part of the services sector. The company has a P/E ratio of 14.6, equal to the average wholesale industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are up 9.1% year to date as of the close of trading on Thursday. TheStreet Ratings rates AmerisourceBergen as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, notable return on equity, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow.
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