|Bid||0.00 x 2200|
|Ask||95.90 x 800|
|Day's Range||92.78 - 95.77|
|52 Week Range||70.55 - 97.50|
|Beta (5Y Monthly)||0.98|
|PE Ratio (TTM)||30.10|
|Earnings Date||Apr 29, 2020 - May 03, 2020|
|Forward Dividend & Yield||1.68 (1.77%)|
|Ex-Dividend Date||Feb 12, 2020|
|1y Target Est||98.00|
Some of the industry's largest pharmaceutical companies, including Pfizer Inc and Eli Lilly and Co, have developed a blockchain-based system to track prescription drugs across the supply chain to better halt the flow of counterfeit medicines, company officials said on Friday. Some two dozen companies in the industry including drugmakers, distributers, retailers and delivery firms created the blockchain-based MediLedger Network, which it has been testing in the verification of drug returns. Blockchain, which first emerged as the technology underlying virtual currency bitcoin, is a shared database maintained by a network of computers.
Looking at this from another technical angle (Elliott Wave), it’s likely that we are in Primary Wave 5 of this bull market (or the last major wave higher). Primary Wave 5 started at the end of 2018 -- and based on the current grind-higher price action, most likely we are in Major Wave 3 with Waves 4 and 5 still to come. Based on the size of Primary Wave 1, which started in March 2009 and ended in April 2011, we can see Primary Wave 5 extend to the 3,600 to 3,700 region.
AmerisourceBergen (ABC) seems to be a good value pick, as it has decent revenue metrics to back up its earnings, and is seeing solid earnings estimate revisions as well.
On Feb. 19, one of the largest U.S. public companies made a Memphis facility closure official. Valley Forge, Pennsylvania-based AmerisourceBergen Corp. — No. 10 on the latest Fortune 500, with $167.9 billion in revenue — filed a Worker Adjustment and Retraining Notification Act (WARN) notice for its PharMEDium business unit with the State of Tennessee.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Leading drug distributor stocks remain sensitive to ongoing opioid settlement negotiations. Here are crucial technical levels to watch.
While the moderate 2020 Democrats finished behind Bernie Sanders in New Hampshire, presidential hopefuls Amy Klobuchar, Pete Buttigieg and Joe Biden are winning over S&P 500 CEOs, as the execs vote for them with their wallets.
Twenty one states reject an $18 billion settlement offer from three major drug distributors to resolve litigation over their alleged role in the opioid crisis, the Wall Street Journal reported on Friday, citing a letter sent to the companies' law firms earlier this week. The dissenting states want the companies - AmeriSourceBergen Corp, McKesson Corp and Cardinal Health Inc - to pay between $22 billion and $32 billion, WSJ reported https://on.wsj.com/37kSRkA, citing a person familiar with a matter. McKesson is focused on finalizing a global settlement structure that would provide billions of dollars in immediate funding and relief to states and local communities, a company spokesman said in an emailed statement.
Shares of drug wholesalers, who have held talks to settle opioid litigation, sank in morning trading Friday, after The Wall Street Journal reported that 21 states had rejected an $18 billion settlement offer. Shares of AmerisourceBergen Corp. dropped 2.4%, Cardinal Health Inc. shed 2.5%, McKesson Corp. lost 1.4% and Johnson & Johnson fell 0.4%. In comparsion, the S&P 500 inched up less than 0.1%. The WSJ report, which cited a person familiar with the matter, said the dissenting states want the wholesalers to pay between $22 billion and $32 billion, for their alleged roles in contributing to the opioid crisis.
AmerisourceBergen (ABC) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
AmerisourceBergen shows improving price performance, earning an upgrade to its IBD Relative Strength Rating
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