Diplomat Pharmacy’s (DPLO) “Buy” Rating Reaffirmed at Needham & Company LLC
Needham & Company LLC reiterated their buy rating on shares of Diplomat Pharmacy, Inc. (NYSE:DPLO) in a report issued on Wednesday. They currently have a $23.75 price target on the stock, up from their previous price target of $19.75.
A number of other brokerages have also commented on DPLO. TheStreet raised Diplomat Pharmacy from a d+ rating to a c- rating in a report on Thursday, August 10th. BidaskClub lowered Diplomat Pharmacy from a buy rating to a hold rating in a report on Thursday, June 29th. Zacks Investment Research raised Diplomat Pharmacy from a sell rating to a hold rating in a report on Wednesday, August 9th. Finally, Robert W. Baird raised Diplomat Pharmacy to a positive rating and increased their price objective for the company from $20.00 to $24.00 in a report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $19.16.
Diplomat Pharmacy (NYSE:DPLO) traded up 1.012% during mid-day trading on Wednesday, reaching $21.465. The company’s stock had a trading volume of 253,772 shares. The firm has a 50-day moving average of $18.59 and a 200 day moving average of $16.78. Diplomat Pharmacy has a 1-year low of $12.25 and a 1-year high of $29.36. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 117.295 and a beta of 0.74.
Diplomat Pharmacy (NYSE:DPLO) last issued its quarterly earnings data on Monday, August 7th. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.10. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. Diplomat Pharmacy had a return on equity of 7.97% and a net margin of 0.27%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 EPS. Equities analysts expect that Diplomat Pharmacy will post $0.75 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in shares of Diplomat Pharmacy by 73.1% during the 1st quarter. JPMorgan Chase & Co. now owns 7,235 shares of the company’s stock worth $116,000 after buying an additional 3,056 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Diplomat Pharmacy by 80.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,623 shares of the company’s stock worth $127,000 after buying an additional 3,833 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Diplomat Pharmacy by 46.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,779 shares of the company’s stock worth $130,000 after buying an additional 2,794 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of Diplomat Pharmacy by 13.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,876 shares of the company’s stock worth $142,000 after buying an additional 1,073 shares during the period. Finally, Municipal Employees Retirement System of Michigan lifted its position in shares of Diplomat Pharmacy by 4.9% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,250 shares of the company’s stock worth $152,000 after buying an additional 480 shares during the period. Institutional investors and hedge funds own 69.89% of the company’s stock.
About Diplomat Pharmacy
Diplomat Pharmacy, Inc (Diplomat) operates a specialty pharmacy business, which stocks, dispenses and distributes prescriptions for various biotechnology and specialty pharmaceutical manufacturers. The Company operates through specialty pharmacy services segment. The Company’s primary focus is on medication management programs for individuals with chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, specialty infusion therapy, and various other serious and/or long-term conditions.
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