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. “
PharMerica Corp. (NYSE:PMC) opened at 24.00 on Friday. PharMerica Corp. has a 52 week low of $19.20 and a 52 week high of $35.47. The company has a 50 day moving average price of $25.27 and a 200-day moving average price of $25.59. The firm has a market capitalization of $738.74 million, a price-to-earnings ratio of 21.88 and a beta of 0.98.
PharMerica Corp. (NYSE:PMC) last announced its earnings results on Wednesday, November 9th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.07. PharMerica Corp. had a net margin of 1.64% and a return on equity of 10.40%. The firm earned $512.60 million during the quarter, compared to analyst estimates of $530.01 million. During the same period in the prior year, the business posted $0.39 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities analysts predict that PharMerica Corp. will post $1.87 earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised 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 worth $104,000 after buying an additional 293 shares in the last quarter. Teacher Retirement System of Texas raised its position in PharMerica Corp. by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 4,243 shares of the company’s stock valued at $105,000 after buying an additional 523 shares during the period. Mason Street Advisors LLC bought a new position in PharMerica Corp. during the second quarter valued at $148,000. SG Americas Securities LLC bought a new position in PharMerica Corp. during the third quarter valued at $154,000. Finally, Springbok Capital Management LLC raised 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. 92.84% of the stock is currently owned by institutional investors and hedge funds.
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.