NEW YORK (

TheStreet

) --

AmerisourceBergen Corporation

(NYSE:

ABC

) hit a new 52-week high Thursday as it traded at $38.84 compared with its previous 52-Week high of $38.83. AmerisourceBergen is changing hands at $38.82 with 820,038 shares traded as of 11:56 a.m. ET. Average volume has been 2.6 million shares over the past 30 days.

AmerisourceBergen has a market cap of $10.5 billion and is part of the

services

sector and

wholesale

industry. Shares are up 11.8% year to date as of the close of trading on Wednesday.

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. The company has a P/E ratio of 16.9, equal to the average wholesale industry P/E ratio and above the S&P 500 P/E ratio of 16.

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TheStreet Ratings rates AmerisourceBergen as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, revenue growth and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full

AmerisourceBergen Ratings Report

.

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