California Public Employees Retirement System raised its stake in shares of Pharmerica Corporation (NYSE:PMC) by 14.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 81,200 shares of the company’s stock after buying an additional 10,300 shares during the period. California Public Employees Retirement System owned 0.26% of Pharmerica Corporation worth $1,900,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PMC. Principal Financial Group Inc. boosted its position in shares of Pharmerica Corporation by 3.7% in the first quarter. Principal Financial Group Inc. now owns 234,783 shares of the company’s stock valued at $5,494,000 after buying an additional 8,286 shares during the last quarter. OppenheimerFunds Inc. raised its stake in Pharmerica Corporation by 33.3% in the first quarter. OppenheimerFunds Inc. now owns 69,565 shares of the company’s stock valued at $1,628,000 after buying an additional 17,364 shares during the period. ClariVest Asset Management LLC raised its stake in Pharmerica Corporation by 22.3% in the first quarter. ClariVest Asset Management LLC now owns 152,109 shares of the company’s stock valued at $3,559,000 after buying an additional 27,714 shares during the period. Arizona State Retirement System raised its stake in Pharmerica Corporation by 1.3% in the first quarter. Arizona State Retirement System now owns 16,016 shares of the company’s stock valued at $375,000 after buying an additional 200 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Pharmerica Corporation during the first quarter valued at approximately $121,000. 94.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of Pharmerica Corporation (NYSE:PMC) remained flat at $29.05 during midday trading on Friday. The company had a trading volume of 497,567 shares. The firm has a market cap of $904.07 million, a price-to-earnings ratio of 39.36 and a beta of 0.92. The firm’s 50 day moving average is $27.05 and its 200-day moving average is $25.07. Pharmerica Corporation has a 52 week low of $19.20 and a 52 week high of $29.10.

Pharmerica Corporation (NYSE:PMC) last announced its earnings results on Wednesday, August 2nd. The company reported $0.47 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.47. Pharmerica Corporation had a net margin of 1.05% and a return on equity of 10.94%. The business had revenue of $592 million during the quarter, compared to analysts’ expectations of $592.96 million. During the same period in the prior year, the company earned $0.47 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. On average, equities research analysts expect that Pharmerica Corporation will post $1.92 EPS for the current year.

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Several equities research analysts have commented on PMC shares. Zacks Investment Research upgraded shares of Pharmerica Corporation from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Saturday, June 24th. ValuEngine lowered shares of Pharmerica Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. KeyCorp lowered shares of Pharmerica Corporation to an “overweight” rating in a research note on Tuesday, August 8th. Credit Suisse Group lowered shares of Pharmerica Corporation from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $29.00 to $29.25 in a research note on Friday, August 4th. They noted that the move was a valuation call. Finally, BidaskClub lowered shares of Pharmerica Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $28.83.

About Pharmerica Corporation

Institutional Ownership by Quarter for Pharmerica Corporation (NYSE:PMC)

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