AmerisourceBergen Corporation ABC reported first-quarter fiscal 2021 adjusted earnings per share (EPS) of $2.18 surpassing the Zacks Consensus Estimate of $1.94 by 12.4%. The bottom line also improved 23.9% year over year.The better-than-expected bottom-line performance can be attributed to higher adjusted operating income.Revenue DetailsRevenues increased 9.7% to $52.52 billion in the reported quarter. Further, the top line beat the Zacks Consensus Estimate by 3.8%.Segmental AnalysisPharmaceutical Distribution SegmentRevenues at this segment totaled $50.49 billion, reflecting an increase of 9.7% on a year-over-year basis on the back of higher volume related to growth of some of its largest customers and continued strength in specialty product sales.Segmental operating income was $496.1 million, up 26.6% year over year. Increase in gross profit resulting from revenue growth contributed to the upside.AmerisourceBergen Corporation Price, Consensus and EPS Surprise AmerisourceBergen Corporation price-consensus-eps-surprise-chart | AmerisourceBergen Corporation QuoteOther SegmentThis segment includes AmerisourceBergen Consulting Services (ABCS), World Courier and MWI Veterinary Supply.Revenues at this segment were $2.05 billion, up 11.1% year over year. The upside was driven by growth across all three operating segments.Operating income in the segment was $121.6 million in the quarter, up 16.4% year over year primarily due to growth in World Courier and MWI.Margin AnalysisIn the quarter under review, AmerisourceBergen reported adjusted gross profit of $1.43 billion, up 14.8% on a year-over-year basis. As a percentage of revenues, adjusted gross margin was 2.7% in the quarter, up 10 basis points (bps) a year-over-year basis.The company reported adjusted operating income of $616.9 million, up 24.6% year over year. As a percentage of revenues, adjusted operating margin was 1.2% in the quarter, which expanded 20 bps from the year-ago quarter.Fiscal 2021 Guidance UpdatedAmerisourceBergen has updated its fiscal 2021 outlook, indicating sustained solid performance and solid execution. It is important to note here that the outlook does not take into account any contribution from the Alliance Healthcare buyout or any incremental growth resulting from the expanded U.S. partnership announced in January 2021.Adjusted EPS is now estimated to be $8.40-$8.60 (up from the prior-guided range of $8.25-$8.50). The Zacks Consensus Estimate currently stands at $8.37.The company estimates revenue growth in the high-single-digit percent range (up from the prior mid-single-digit percent range).Adjusted operating income is now projected to grow in high-single-digit percent range (up from the prior mid-single-digit percent range).Operating income at Pharmaceutical Distribution Services segment is now anticipated to improve in high-single-digit percent range (up from the prior mid-single-digit percent range).For the Other segment, the metric is estimated to grow in the mid-to-high single digit percent range (up from the previous mid-single-digit percent range).Adjusted free cash flow is estimated to be around $1.5 billion.The company anticipates adjusted effective tax rate to be 21-22%.Adjusted operating expenses is projected to increase in the mid-to-high-single digit percent range (widened from the previous mid-single-digit percent range).Summing UpAmerisourceBergen exited the fiscal first quarter on a strong note, wherein both earnings and revenues beat the consensus mark. The company continues to gain from its Pharmaceutical segment and World Courier business, which have been generating substantial profits for quite some time. Moreover, the company witnessed increase in gross profit in the quarter under review. Also, expansion in both gross and operating margins is a positive.However, the company faces other headwinds like conversion of branded drugs and lower price generics. Cut-throat competition in the MedTech space also remains a concern.Zacks RankCurrently, AmerisourceBergen carries a Zacks Rank #3 (Hold).Earnings of Other MedTech Majors at a GlanceSome better-ranked stocks in the broader medical space that have already announced their quarterly results are PerkinElmer, Inc. PKI, Abbott Laboratories ABT and AngioDynamics, Inc. ANGO, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.PerkinElmer reported fourth-quarter 2020 adjusted EPS of $3.96, which beat the Zacks Consensus Estimate of $3.61 per share by 9.7%. Revenues of $1.36 billion surpassed the consensus mark by 7.7%.AngioDynamics reported second-quarter fiscal 2021 adjusted EPS of a penny against the Zacks Consensus Estimate of a loss per share of 2 cents. Revenues of $72.8 million beat the consensus mark by 8%.Abbott reported fourth-quarter 2020 adjusted EPS of $1.45, which surpassed the Zacks Consensus Estimate by 6.6%. Fourth-quarter worldwide sales of $10.7 billion outpaced the consensus mark by 7.9%.5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AngioDynamics, Inc. (ANGO): Free Stock Analysis Report AmerisourceBergen Corporation (ABC): Free Stock Analysis Report PerkinElmer, Inc. (PKI): Get Free Report Abbott Laboratories (ABT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research