PharMerica Corp. (NYSE:PMC) Receives Consensus Recommendation of “Buy” from Analysts
Shares of PharMerica Corp. (NYSE:PMC) have been given a consensus rating of “Buy” by the eight research firms that are currently covering the firm. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $31.83.
Several research firms recently weighed in on PMC. Zacks Investment Research upgraded PharMerica Corp. from a “sell” rating to a “hold” rating in a research report on Friday, September 23rd. Bank of America Corp. began coverage on PharMerica Corp. in a research report on Tuesday, June 7th. They set a “buy” rating and a $32.00 target price on the stock.
A number of large investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its stake in shares of PharMerica Corp. by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 13,600 shares of the company’s stock valued at $335,000 after buying an additional 100 shares during the period. Boston Advisors LLC boosted its stake in shares of PharMerica Corp. by 0.5% in the second quarter. Boston Advisors LLC now owns 19,985 shares of the company’s stock valued at $493,000 after buying an additional 105 shares during the period. Capstone Asset Management Co. boosted its stake in shares of PharMerica Corp. by 0.9% in the second quarter. Capstone Asset Management Co. now owns 12,321 shares of the company’s stock valued at $304,000 after buying an additional 110 shares during the period. Sei Investments Co. boosted its stake in shares of PharMerica Corp. by 3.8% in the second quarter. Sei Investments Co. now owns 6,638 shares of the company’s stock valued at $163,000 after buying an additional 240 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of PharMerica Corp. by 7.5% in the second quarter. Public Employees Retirement System of Ohio now owns 4,215 shares of the company’s stock valued at $104,000 after buying an additional 293 shares during the period. 92.37% of the stock is currently owned by institutional investors and hedge funds.
PharMerica Corp. (NYSE:PMC) opened at 27.67 on Friday. PharMerica Corp. has a 52 week low of $19.79 and a 52 week high of $35.81. The company has a market capitalization of $851.24 million, a price-to-earnings ratio of 28.58 and a beta of 0.88. The firm has a 50-day moving average price of $25.82 and a 200-day moving average price of $25.01.
PharMerica Corp. (NYSE:PMC) last released its earnings results on Tuesday, August 9th. The company reported $0.47 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. The company had revenue of $519.60 million for the quarter, compared to the consensus estimate of $508.31 million. PharMerica Corp. had a return on equity of 10.00% and a net margin of 1.44%. PharMerica Corp.’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 earnings per share. Analysts anticipate that PharMerica Corp. will post $2.01 EPS for the current fiscal year.
About PharMerica Corp.
PharMerica Corporation is an institutional pharmacy services company. The Company services healthcare facilities, provides pharmacy management services to hospitals, provides specialty infusion services to patients outside a hospital setting and offers the national oncology pharmacy in the United States.
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