AmerisourceBergen Stock Hits New 52-Week High (ABC)
AmerisourceBergen (NYSE:ABC) hit a new 52-week high Thursday as it is currently trading at $41, above its previous 52-week high of $40.95 with 1.8 million shares traded as of 11:30 a.m. ET. Average volume has been 2.9 million shares over the past 30 days.
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- AmerisourceBergen (NYSE: ABC) hit a new 52-week high Thursday as it is currently trading at $41, above its previous 52-week high of $40.95 with 1.8 million shares traded as of 11:30 a.m. ET. Average volume has been 2.9 million shares over the past 30 days. AmerisourceBergen has a market cap of $9.9 billion and is part of the services sector and wholesale industry. Shares are up 5.8% 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 primarily in the United States and Canada. The company has a P/E ratio of 14.7, equal to the average wholesale industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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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, notable return on equity, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full AmerisourceBergen Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center. FREE from Real Money's Jim Cramer: Winners and Losers Election 2012 - Steps to take NOW so you can profit no matter who is in charge! Free download now.