Trading Report: Today, JPMorgan Chase & Co. Cuts Stake in Diplomat Pharmacy Inc. (DPLO)

Today, JPMorgan Chase & Co. Cuts Stake in Diplomat Pharmacy Inc. (DPLO)

JPMorgan Chase & Co. cut its position in Diplomat Pharmacy Inc. (NYSE:DPLO) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 275,647 shares of the company’s stock after selling 5,988 shares during the period. JPMorgan Chase & Co. owned about 0.43% of Diplomat Pharmacy worth $9,648,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its stake in Diplomat Pharmacy by 4.3% in the second quarter. Ameriprise Financial Inc. now owns 249,788 shares of the company’s stock worth $8,744,000 after buying an additional 10,236 shares during the last quarter. Autus Asset Management LLC increased its stake in Diplomat Pharmacy by 11.5% in the second quarter. Autus Asset Management LLC now owns 51,360 shares of the company’s stock worth $1,798,000 after buying an additional 5,310 shares during the last quarter. Sivik Global Healthcare LLC purchased a new stake in Diplomat Pharmacy during the second quarter worth about $2,275,000. First Trust Advisors LP purchased a new stake in Diplomat Pharmacy during the second quarter worth about $854,000. Finally, State Board of Administration of Florida Retirement System increased its stake in Diplomat Pharmacy by 14.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 23,502 shares of the company’s stock worth $823,000 after buying an additional 3,041 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Shares of Diplomat Pharmacy Inc. (NYSE:DPLO) traded down 0.57% on Thursday, reaching $28.10. The company had a trading volume of 187,105 shares. The company has a market capitalization of $1.86 billion, a P/E ratio of 43.23 and a beta of 1.06. The company has a 50 day moving average of $30.91 and a 200-day moving average of $32.07. Diplomat Pharmacy Inc. has a 52 week low of $22.41 and a 52 week high of $38.94.

Diplomat Pharmacy (NYSE:DPLO) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. Diplomat Pharmacy had a return on equity of 11.57% and a net margin of 1.08%. The business earned $1.09 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business posted $0.16 earnings per share. The company’s quarterly revenue was up 34.8% on a year-over-year basis. Analysts predict that Diplomat Pharmacy Inc. will post $0.94 earnings per share for the current fiscal year.

A number of brokerages have recently commented on DPLO. Zacks Investment Research cut Diplomat Pharmacy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 12th. Bank of America Corp. began coverage on Diplomat Pharmacy in a report on Wednesday, June 8th. They issued a “hold” rating for the company. Cowen and Company began coverage on Diplomat Pharmacy in a report on Thursday, June 23rd. They issued a “market perform” rating and a $37.00 target price for the company. Leerink Swann lifted their target price on Diplomat Pharmacy from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, August 10th. Finally, Mizuho lifted their target price on Diplomat Pharmacy from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, August 10th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Diplomat Pharmacy currently has an average rating of “Hold” and a consensus target price of $37.50.

In other Diplomat Pharmacy news, EVP Atheer A. Kaddis sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $30.12, for a total value of $602,400.00. Following the sale, the executive vice president now directly owns 20,000 shares in the company, valued at $602,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Atheer A. Kaddis sold 12,325 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $35.76, for a total value of $440,742.00. Following the completion of the sale, the executive vice president now owns 12,325 shares in the company, valued at $440,742. The disclosure for this sale can be found here. Insiders own 35.40% of the company’s stock.

About Diplomat Pharmacy

Diplomat Pharmacy, Inc operates a specialty pharmacy business, which stocks, dispenses and distributes prescriptions for various biotechnology and specialty pharmaceutical manufacturers. The Company’s primary focus is on medication management programs for individuals with chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, specialized infusion therapy, and various other serious and/or long-term conditions.

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