ABC Stock Summary and Trading Ideas (Amerisourcebergen | NYSE:ABC)

AmerisourceBergen is one of three domestic leading pharmaceutical wholesalers. It sources and distributes branded, generic, and specialty pharmaceutical products to pharmacies (retail chains, independent, and mail order), hospital networks, and healthcare providers. It and McKesson and Cardinal Health constitute over 90% of the U.S. pharmaceutical wholesale industry. AmerisourceBergen also provides commercialization services for manufacturers of pharmaceuticals and medical devices, global specialty drug logistics (World Courier), and animal health product distribution (MWI Animal Health). AmerisourceBergen expanded its international presence in 2021 by purchasing Alliance Healthcare, one of the leading drug wholesalers in Europe.

Amerisourcebergen trades on the NYSE stock market under the symbol ABC.

As of June 2, 2023, ABC stock price climbed to $174.52 with 1,229,289 million shares trading.

ABC has a beta of 0.46, meaning it tends to be less sensitive to market movements. ABC has a correlation of 0.20 to the broad based SPY ETF.

ABC has a market cap of $35.28 billion. This is considered a Large Cap stock.

Last quarter Amerisourcebergen reported $63 billion in Revenue and $3.50 earnings per share. This beat revenue expectation by $3 billion and exceeded earnings estimates by $.21.

In the last 3 years, ABC stock traded as high as $176.62 and as low as $92.00.

The top ETF exchange traded funds that ABC belongs to (by Net Assets): VTI, VO, VOO, SPY, VOE.

ABC has outperformed the market in the last year with a return of +19.4%, while the SPY ETF gained +4.1%. In the last 3 month period, ABC beat the market returning +13.0%, while SPY returned +7.9%. However, in the most recent 2 weeks ABC has underperformed the stock market by returning +0.7%, while SPY returned +2.2%.

ABC support price is $170.14 and resistance is $175.05 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ABC stock will trade within this expected range on the day.