The JPMorgan Chase & Co. decides to keep it stake in PharMerica Corp. (PMC) to the level of $5,775,000

The JPMorgan Chase & Co. decides to keep it stake in PharMerica Corp. (PMC) to the level of $5,775,000

JPMorgan Chase & Co. reduced its position in PharMerica Corp. (NYSE:PMC) by 65.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,195 shares of the company’s stock after selling 453,200 shares during the period. JPMorgan Chase & Co. owned 0.76% of PharMerica Corp. worth $5,775,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PMC. TIAA CREF Investment Management LLC raised its position in PharMerica Corp. by 32.5% in the first quarter. TIAA CREF Investment Management LLC now owns 156,998 shares of the company’s stock worth $3,471,000 after buying an additional 38,479 shares during the last quarter. Prudential Financial Inc. raised its position in PharMerica Corp. by 37.5% in the first quarter. Prudential Financial Inc. now owns 265,139 shares of the company’s stock worth $5,863,000 after buying an additional 72,260 shares during the last quarter. BlackRock Group LTD raised its position in PharMerica Corp. by 13.9% in the first quarter. BlackRock Group LTD now owns 40,754 shares of the company’s stock worth $901,000 after buying an additional 4,983 shares during the last quarter. BlackRock Fund Advisors raised its position in PharMerica Corp. by 2.2% in the first quarter. BlackRock Fund Advisors now owns 2,146,542 shares of the company’s stock worth $47,460,000 after buying an additional 46,633 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in PharMerica Corp. by 2.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 815,898 shares of the company’s stock worth $18,040,000 after buying an additional 17,086 shares during the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

PharMerica Corp. (NYSE:PMC) traded up 1.32% during midday trading on Wednesday, reaching $27.60. The company’s stock had a trading volume of 31,346 shares. The firm has a market cap of $849.09 million, a P/E ratio of 28.51 and a beta of 0.88. PharMerica Corp. has a one year low of $19.79 and a one year high of $35.81. The firm has a 50 day moving average price of $26.66 and a 200 day moving average price of $25.24.

PharMerica Corp. (NYSE:PMC) last issued its earnings results on Tuesday, August 9th. The company reported $0.47 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.47. The business had revenue of $519.60 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. Equities research analysts forecast that PharMerica Corp. will post $2.01 EPS for the current fiscal year.

Separately, Zacks Investment Research downgraded PharMerica Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price 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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