PharMerica Corp. (NYSE:PMC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

According to Zacks, “PharMerica Corporation is an institutional pharmacy services provider dedicated to providing quality customer service and innovative pharmacy solutions to institutional customers and patients in long-term care settings. PharMerica is a public company formed through the combination of the institutional pharmacy business of national healthcare services company Kindred Healthcare, Inc. and pharmaceutical services company AmerisourceBergen Corporation. As a result of this combination, PharMerica ranks as an industry-leading U.S. provider of institutional pharmacy services in terms of annual revenues. “

Analyst Recommendations for PharMerica Corp. (NYSE:PMC)

Shares of PharMerica Corp. (NYSE:PMC) opened at 23.70 on Friday. PharMerica Corp. has a 1-year low of $19.20 and a 1-year high of $35.47. The company has a market capitalization of $729.11 million, a price-to-earnings ratio of 24.48 and a beta of 0.98. The stock has a 50 day moving average price of $26.16 and a 200 day moving average price of $25.60.

PharMerica Corp. (NYSE:PMC) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by $0.07. PharMerica Corp. had a return on equity of 10.40% and a net margin of 1.64%. The business had revenue of $512.60 million for the quarter, compared to the consensus estimate of $530.01 million. During the same quarter in the previous year, the business posted $0.39 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts forecast that PharMerica Corp. will post $2.01 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its position in 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 worth $104,000 after buying an additional 293 shares during the last quarter. Teacher Retirement System of Texas boosted its position in PharMerica Corp. by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 4,243 shares of the company’s stock worth $105,000 after buying an additional 523 shares during the last quarter. Mason Street Advisors LLC acquired a new position in PharMerica Corp. during the second quarter worth approximately $148,000. SG Americas Securities LLC acquired a new position in PharMerica Corp. during the third quarter worth approximately $154,000. Finally, Springbok Capital Management LLC boosted its position in PharMerica Corp. by 22.8% in the first quarter. Springbok Capital Management LLC now owns 7,000 shares of the company’s stock worth $155,000 after buying an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

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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