NEW YORK (TheStreet) -- Shares of AmerisourceBergen  (ABC - Get Report)  were rising 4.73% to $89.48 by mid-morning after the company released its 2016 third quarter results before Tuesday's market open that topped analysts' estimates.

The Valley Forge, PA-based drug wholesaler reported adjusted earnings of $1.37 per diluted share, up 14.2% from the 2015 third quarter. Analysts were looking for earnings of $1.27 per share.

Revenue rose 7.7% year-over-year to $36.9 billion, higher than Wall Street's estimates of $36.71 billion for the period. The revenue increase reflects an 8% rise in the company's pharmaceutical distribution revenue.

For the 2016 fiscal year, AmerisourceBergen is projecting revenue growth of approximately 8% and operating income growth in the range of 5% to 6%.

Last year, AmerisourceBergen acquired veterinary drug retailer MWI Veterinary Supply (MWIV) for $2.5 billion, or $190 per share, the Wall Street Journal reported. The company also acquired compound drug supplier PharMEDium for $2.58 billion at the end of 2015, Fortune reported.

"Our most recent acquisitions, MWI Veterinary Supply and PharMEDium, have made strong contributions, and our specialty group delivered excellent performance," said CEO Steven Collis in a company statement.

"We renewed our relationship with our largest health systems customer for an additional 5 years, and have made progress on our efforts to address the headwinds we face in AmerisourceBergen Drug Corporation," he added.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rated this stock as a "buy" with a ratings score of B.

The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, notable return on equity, good cash flow from operations and impressive record of earnings per share growth. TheStreet Ratings feels its strengths outweigh the fact that the company has had generally high debt management risk by most measures that TheStreet Ratings evaluated.

You can view the full analysis from the report here: ABC