Todays Report: The BNP Paribas Arbitrage SA Reduces Position in PharMerica Corp. (PMC)

The BNP Paribas Arbitrage SA Reduces Position in PharMerica Corp. (PMC)

BNP Paribas Arbitrage SA cut its position in shares of PharMerica Corp. (NYSE:PMC) by 52.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,908 shares of the company’s stock after selling 5,395 shares during the period. BNP Paribas Arbitrage SA’s holdings in PharMerica Corp. were worth $138,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PMC. FMR LLC raised its stake in shares of PharMerica Corp. by 155.5% in the second quarter. FMR LLC now owns 2,446,887 shares of the company’s stock worth $60,340,000 after buying an additional 1,489,361 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of PharMerica Corp. by 2.5% in the second quarter. BlackRock Fund Advisors now owns 2,200,096 shares of the company’s stock worth $54,254,000 after buying an additional 53,554 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of PharMerica Corp. by 8.1% in the second quarter. Victory Capital Management Inc. now owns 1,125,693 shares of the company’s stock worth $27,760,000 after buying an additional 84,653 shares during the last quarter. American Century Companies Inc. raised its stake in shares of PharMerica Corp. by 3.9% in the second quarter. American Century Companies Inc. now owns 1,000,168 shares of the company’s stock worth $24,664,000 after buying an additional 37,114 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in shares of PharMerica Corp. by 19.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 860,220 shares of the company’s stock worth $21,213,000 after buying an additional 141,928 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

PharMerica Corp. (NYSE:PMC) opened at 27.24 on Wednesday. The firm has a market capitalization of $838.01 million, a P/E ratio of 28.14 and a beta of 0.88. The stock’s 50 day moving average price is $26.66 and its 200-day moving average price is $25.24. PharMerica Corp. has a 12 month low of $19.79 and a 12 month high of $35.81.

PharMerica Corp. (NYSE:PMC) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. The business earned $519.60 million during the quarter, compared to analysts’ expectations of $508.31 million. PharMerica Corp. had a net margin of 1.44% and a return on equity of 10.00%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 EPS. Equities analysts forecast that PharMerica Corp. will post $2.01 earnings per share for the current year.

Separately, Zacks Investment Research upgraded PharMerica Corp. from a “sell” rating to a “hold” rating in a report on Friday, September 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. PharMerica Corp. currently has a consensus rating of “Buy” and a consensus price target of $31.57.

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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