ABC - AmerisourceBergen off 4% on earnings impacting peers Cardinal Health McKesson

• Other drug wholesalers are down after AmerisourceBergen ( NYSE: ABC ), which is off 4% in Wednesday afternoon trading, released Q4 2022 earnings earlier in the day.
• Cardinal Health ( NYSE: CAH ) is down 1.3% , while McKesson ( NYSE: MCK ), which reports after the closing bell, is off 1.4% .
• AmerisourceBergen ( ABC ) is trading down even though its Q4 results beat on the top and bottom lines and it raised its 2023 EPS outlook.
• JP Morgan analyst Lisa Gill, who has an overweight rating on AmerisourceBergen, wrote in a note, "The increased guidance was driven off improved outlooks for the International Healthcare Solutions segment, offset by a slightly wider range in expectations for the U.S. distribution segment, where ABC indicated that COVID-19 contribution would be lower than its initial expectation."
• Evercore ISI's Elizabeth Anderson, who has an outperform call, said the price decline was an "overreaction."
• Read why Seeking Alpha contributor Cory Cramer considers AmerisourceBergen ( ABC ) a hold.

For further details see: