PharMerica Corp. (PMC) Releases FY16 Earnings Guidance
PharMerica Corp. (NYSE:PMC) updated its FY16 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.84-1.89 for the period, compared to the Thomson Reuters consensus estimate of $2.01. The company issued revenue guidance of $2.051-2.091 billion, compared to the consensus revenue estimate of $2.13 billion.
Separately, Zacks Investment Research upgraded PharMerica Corp. from a sell rating to a hold rating in a research note on Thursday, October 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $31.57.
PharMerica Corp. (NYSE:PMC) opened at 23.70 on Friday. PharMerica Corp. has a 52 week low of $19.20 and a 52 week high of $35.47. The firm has a 50-day moving average price of $26.16 and a 200-day moving average price of $25.60. The company has a market capitalization of $729.11 million, a price-to-earnings ratio of 24.48 and a beta of 0.98.
PharMerica Corp. (NYSE:PMC) last released its quarterly earnings results on Wednesday, November 9th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.07. The firm earned $512.60 million during the quarter, compared to analysts’ expectations of $530.01 million. PharMerica Corp. had a return on equity of 10.00% and a net margin of 1.44%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business earned $0.39 earnings per share. Analysts anticipate that PharMerica Corp. will post $2.01 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in PharMerica Corp. by 155.5% in the second quarter. FMR LLC now owns 2,446,887 shares of the company’s stock worth $60,340,000 after buying an additional 1,489,361 shares during the period. Loomis Sayles & Co. L P increased its position in PharMerica Corp. by 21.6% in the second quarter. Loomis Sayles & Co. L P now owns 499,808 shares of the company’s stock valued at $12,325,000 after buying an additional 88,618 shares during the period. TFS Capital LLC bought a new position in PharMerica Corp. during the second quarter valued at $1,903,000. South Dakota Investment Council bought a new position in PharMerica Corp. during the second quarter valued at $1,797,000. Finally, BlackRock Fund Advisors increased its position in PharMerica Corp. by 2.5% in the second quarter. BlackRock Fund Advisors now owns 2,200,096 shares of the company’s stock valued at $54,254,000 after buying an additional 53,554 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.
PharMerica Corp. Company Profile
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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