Should You Buy AmerisourceBergen Corp. (ABC) Stock on Thursday?

Thursday, August 24, 2023 01:13 PM | InvestorsObserver Analysts

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Should You Buy AmerisourceBergen Corp. (ABC) Stock on Thursday?

Overall market sentiment has been down on AmerisourceBergen Corp. (ABC) stock lately. ABC receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator.

AmerisourceBergen Corp. has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on ABC!

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What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With ABC Stock Today?

AmerisourceBergen Corp. (ABC) stock has risen 0.97% while the S&P 500 has fallen -0.73% as of 1:11 PM on Thursday, Aug 24. ABC has gained $1.72 from the previous closing price of $177.77 on volume of 468,767 shares. Over the past year the S&P 500 has risen 6.65% while ABC has gained 21.26%. ABC earned $8.21 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 21.88. To see InvestorsObserver's Sentiment Score for AmerisourceBergen Corp. click here.

More About AmerisourceBergen Corp.

AmerisourceBergen is a leading pharmaceutical wholesaler engaged in the sourcing and distribution of branded, generic, and specialty pharmaceutical products to pharmacies (retail chains, independent, and mail order), hospital networks, and healthcare providers. Along with McKesson and Cardinal Health, the three compose well over 90% of the U.S. pharmaceutical wholesale industry. Through bolt-on acquisitions, the company has expanded into international wholesale in Europe (Alliance Healthcare). AmerisourceBergen provides commercialization services for manufacturers of pharmaceuticals and medical devices, global specialty drug logistics (World Courier), and animal health product distribution (MWI Animal Health). Click Here to get the full Stock Report for AmerisourceBergen Corp. stock.