PharMerica Corp. (PMC) Raised to “Hold” at Zacks Investment Research
PharMerica Corp. (NYSE:PMC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” 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. “
Separately, Bank of America Corp. initiated coverage on PharMerica Corp. in a report on Tuesday, June 7th. They issued a “buy” rating and a $32.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. PharMerica Corp. has a consensus rating of “Buy” and an average target price of $31.57.
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PharMerica Corp. (NYSE:PMC) opened at 28.17 on Friday. The firm has a market cap of $866.62 million, a PE ratio of 29.10 and a beta of 0.87. PharMerica Corp. has a one year low of $19.79 and a one year high of $35.81. The company has a 50-day moving average price of $25.03 and a 200-day moving average price of $24.60.
PharMerica Corp. (NYSE:PMC) last released its earnings results on Tuesday, August 9th. The company reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. The firm earned $519.60 million during the quarter, compared to the consensus estimate of $508.31 million. PharMerica Corp. had a return on equity of 10.00% and a net margin of 1.44%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 earnings per share. Equities analysts predict that PharMerica Corp. will post $2.01 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System increased its stake in shares of PharMerica Corp. by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 13,600 shares of the company’s stock valued at $335,000 after buying an additional 100 shares during the period. Boston Advisors LLC increased its stake in shares of PharMerica Corp. by 0.5% in the second quarter. Boston Advisors LLC now owns 19,985 shares of the company’s stock valued at $493,000 after buying an additional 105 shares during the period. Capstone Asset Management Co. increased its stake in shares of PharMerica Corp. by 0.9% in the second quarter. Capstone Asset Management Co. now owns 12,321 shares of the company’s stock valued at $304,000 after buying an additional 110 shares during the period. Sei Investments Co. increased its stake in shares of PharMerica Corp. by 3.8% in the second quarter. Sei Investments Co. now owns 6,638 shares of the company’s stock valued at $163,000 after buying an additional 240 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of 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 valued at $104,000 after buying an additional 293 shares during the period. 92.37% of the stock is currently owned by institutional investors.
PharMerica Corp. Company Profile
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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