Diplomat Pharmacy, Inc. (DPLO) Stock Price Up 6.3% on Insider Buying Activity
Shares of Diplomat Pharmacy, Inc. (NYSE:DPLO) rose 6.3% during mid-day trading on Monday after an insider bought additional shares in the company. The company traded as high as $15.99 and last traded at $15.94. Approximately 1,973,859 shares changed hands during mid-day trading, an increase of 144% from the average daily volume of 809,973 shares. The stock had previously closed at $15.00.
Specifically, CFO Atul Kavthekar bought 2,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was bought at an average cost of $15.00 per share, for a total transaction of $30,000.00. Following the transaction, the chief financial officer now owns 2,000 shares of the company’s stock, valued at $30,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Joel Saban bought 10,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were bought at an average price of $15.24 per share, with a total value of $152,400.00. Following the completion of the transaction, the president now directly owns 12,000 shares in the company, valued at approximately $182,880. The disclosure for this purchase can be found here. Insiders own 30.20% of the company’s stock.
Several equities analysts have recently issued reports on DPLO shares. Robert W. Baird upgraded Diplomat Pharmacy to a “positive” rating and boosted their target price for the stock from $20.00 to $24.00 in a research report on Monday, September 18th. Zacks Investment Research upgraded Diplomat Pharmacy from a “hold” rating to a “strong-buy” rating and set a $24.00 target price for the company in a research report on Tuesday, October 10th. BidaskClub upgraded Diplomat Pharmacy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 5th. Needham & Company LLC boosted their target price on Diplomat Pharmacy from $23.75 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Finally, Mizuho set a $16.00 target price on Diplomat Pharmacy and gave the stock a “hold” rating in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $19.39.
The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1,170.00, a PE ratio of 19.48, a PEG ratio of 2.70 and a beta of 0.74.
Diplomat Pharmacy (NYSE:DPLO) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.10. Diplomat Pharmacy had a return on equity of 8.30% and a net margin of 0.18%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm earned $0.21 EPS. Diplomat Pharmacy’s quarterly revenue was down 4.8% compared to the same quarter last year. research analysts anticipate that Diplomat Pharmacy, Inc. will post 0.85 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in shares of Diplomat Pharmacy by 73.1% in the 1st quarter. JPMorgan Chase & Co. now owns 7,235 shares of the company’s stock valued at $116,000 after purchasing an additional 3,056 shares during the period. State of Alaska Department of Revenue grew its position in shares of Diplomat Pharmacy by 80.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,623 shares of the company’s stock valued at $127,000 after purchasing an additional 3,833 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Diplomat Pharmacy by 46.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,779 shares of the company’s stock valued at $130,000 after purchasing an additional 2,794 shares during the period. Municipal Employees Retirement System of Michigan grew its position in shares of Diplomat Pharmacy by 4.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,250 shares of the company’s stock valued at $152,000 after purchasing an additional 480 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of Diplomat Pharmacy by 11.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 11,193 shares of the company’s stock valued at $166,000 after purchasing an additional 1,193 shares during the period. Institutional investors and hedge funds own 67.74% 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.
Receive News & Stock Ratings for Diplomat Pharmacy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diplomat Pharmacy Inc. and related stocks with our FREE daily email newsletter.