Zacks Investment Research Upgrades PharMerica Corp. (PMC) to Hold
PharMerica Corp. (NYSE:PMC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “
PharMerica Corp. (NYSE:PMC) opened at 23.85 on Friday. PharMerica Corp. has a 12-month low of $19.20 and a 12-month high of $35.47. The company has a 50 day moving average of $24.98 and a 200-day moving average of $25.54. The stock has a market cap of $734.13 million, a P/E ratio of 21.74 and a beta of 0.98.
PharMerica Corp. (NYSE:PMC) last announced its earnings results on Wednesday, November 9th. The company reported $0.44 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 the consensus estimate of $530.01 million. PharMerica Corp. had a return on equity of 10.40% and a net margin of 1.64%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Equities analysts forecast that PharMerica Corp. will post $1.87 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the company. TIAA CREF Investment Management LLC increased its position in shares of PharMerica Corp. by 32.5% in the first quarter. TIAA CREF Investment Management LLC now owns 156,998 shares of the company’s stock worth $3,471,000 after buying an additional 38,479 shares in the last quarter. BlackRock Group LTD increased its position in PharMerica Corp. by 13.9% in the first quarter. BlackRock Group LTD now owns 40,754 shares of the company’s stock valued at $901,000 after buying an additional 4,983 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in PharMerica Corp. by 2.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 815,898 shares of the company’s stock valued at $18,040,000 after buying an additional 17,086 shares during the period. Springbok Capital Management LLC increased 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 valued at $155,000 after buying an additional 1,300 shares during the period. Finally, A.R.T. Advisors LLC increased its position in PharMerica Corp. by 6.5% in the first quarter. A.R.T. Advisors LLC now owns 29,467 shares of the company’s stock valued at $651,000 after buying an additional 1,800 shares during the period. Institutional investors and hedge funds own 96.41% 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.
Receive News & Stock Ratings for PharMerica Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PharMerica Corp. and related stocks with our FREE daily email newsletter.