Trading Report: Today, Credit Suisse Group AG Downgraded Diplomat Pharmacy Inc. (DPLO) to Underperform

Today, Credit Suisse Group AG Downgraded Diplomat Pharmacy Inc. (DPLO) to Underperform

Credit Suisse Group AG downgraded shares of Diplomat Pharmacy Inc. (NYSE:DPLO) from a neutral rating to an underperform rating in a research report report published on Wednesday morning. The brokerage currently has $13.00 price objective on the stock, down from their previous price objective of $18.00.

Several other brokerages have also recently issued reports on DPLO. Avondale Partners cut Diplomat Pharmacy from an outperform rating to a market perform rating in a research report on Thursday, November 3rd. Zacks Investment Research cut Diplomat Pharmacy from a hold rating to a sell rating in a research report on Wednesday, November 2nd. TheStreet cut Diplomat Pharmacy from a hold rating to a sell rating in a research report on Thursday, November 3rd. Mizuho dropped their price target on Diplomat Pharmacy from $39.00 to $17.00 and set a neutral rating on the stock in a research report on Thursday, November 3rd. Finally, Citigroup Inc. cut Diplomat Pharmacy to a market perform rating in a research report on Thursday, November 3rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $26.00.

Diplomat Pharmacy (NYSE:DPLO) opened at 15.09 on Wednesday. The firm has a market cap of $1.00 billion, a PE ratio of 31.11 and a beta of 1.21. The firm’s 50 day moving average price is $20.71 and its 200-day moving average price is $29.91. Diplomat Pharmacy has a one year low of $12.47 and a one year high of $38.94.

Diplomat Pharmacy (NYSE:DPLO) last posted its earnings results on Wednesday, November 2nd. The company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.03. Diplomat Pharmacy had a return on equity of 10.47% and a net margin of 0.77%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted $0.26 EPS. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. Equities analysts predict that Diplomat Pharmacy will post $0.84 EPS for the current fiscal year.

In other Diplomat Pharmacy news, EVP Atheer A. Kaddis sold 20,000 shares of Diplomat Pharmacy stock in a transaction that occurred 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 owns 20,000 shares of the company’s stock, valued at approximately $602,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 35.40% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in DPLO. Capital Research Global Investors purchased a new stake in shares of Diplomat Pharmacy during the third quarter valued at approximately $28,761,000. Capital World Investors raised its stake in shares of Diplomat Pharmacy by 41.3% in the second quarter. Capital World Investors now owns 1,966,600 shares of the company’s stock valued at $68,831,000 after buying an additional 575,000 shares during the period. BlackRock Fund Advisors raised its stake in shares of Diplomat Pharmacy by 18.3% in the third quarter. BlackRock Fund Advisors now owns 3,180,902 shares of the company’s stock valued at $89,097,000 after buying an additional 492,922 shares during the period. TimesSquare Capital Management LLC raised its stake in shares of Diplomat Pharmacy by 26.8% in the second quarter. TimesSquare Capital Management LLC now owns 1,403,455 shares of the company’s stock valued at $49,121,000 after buying an additional 296,500 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Diplomat Pharmacy by 9.5% in the second quarter. Vanguard Group Inc. now owns 3,334,010 shares of the company’s stock valued at $116,690,000 after buying an additional 289,571 shares during the period. 77.02% of the stock is currently owned by institutional investors and hedge funds.

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