Todays Report: The Diplomat Pharmacy Inc. (DPLO) Lowered by Credit Suisse Group AG

The Diplomat Pharmacy Inc. (DPLO) Lowered by Credit Suisse Group AG

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

Other equities analysts have also recently issued research reports about the stock. Mizuho reduced their price target on shares of Diplomat Pharmacy from $39.00 to $17.00 and set a neutral rating on the stock in a research report on Thursday, November 3rd. Raymond James Financial Inc. restated a market perform rating on shares of Diplomat Pharmacy in a report on Thursday, November 3rd. Avondale Partners cut shares of Diplomat Pharmacy from an outperform rating to a market perform rating in a report on Thursday, November 3rd. Zacks Investment Research cut shares of Diplomat Pharmacy from a buy rating to a hold rating in a report on Thursday, August 11th. Finally, Citigroup Inc. cut shares of Diplomat Pharmacy to a market perform rating in a report on Thursday, November 3rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Diplomat Pharmacy presently has an average rating of Hold and an average target price of $26.00.

Shares of Diplomat Pharmacy (NYSE:DPLO) opened at 15.03 on Wednesday. The stock’s 50 day moving average is $21.08 and its 200 day moving average is $30.03. The stock has a market cap of $999.66 million, a price-to-earnings ratio of 30.99 and a beta of 1.21. Diplomat Pharmacy has a 52 week low of $12.47 and a 52 week high of $38.94.

Diplomat Pharmacy (NYSE:DPLO) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.03. Diplomat Pharmacy had a net margin of 0.77% and a return on equity of 10.47%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the firm earned $0.26 EPS. Diplomat Pharmacy’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, equities analysts forecast that Diplomat Pharmacy will post $0.84 EPS for the current year.

In related news, EVP Atheer A. Kaddis sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $30.12, for a total transaction of $602,400.00. Following the transaction, the executive vice president now owns 20,000 shares in the company, valued at $602,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 35.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position 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 worth $116,690,000 after buying an additional 289,571 shares during the period. BlackRock Fund Advisors increased its position 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 worth $89,097,000 after buying an additional 492,922 shares during the period. Wells Fargo & Company MN increased its position in shares of Diplomat Pharmacy by 2.2% in the third quarter. Wells Fargo & Company MN now owns 2,493,518 shares of the company’s stock worth $69,843,000 after buying an additional 54,413 shares during the period. Capital World Investors increased its position in shares of Diplomat Pharmacy by 21.3% in the third quarter. Capital World Investors now owns 2,385,000 shares of the company’s stock worth $66,804,000 after buying an additional 418,400 shares during the period. Finally, TimesSquare Capital Management LLC increased its position in shares of Diplomat Pharmacy by 11.3% in the third quarter. TimesSquare Capital Management LLC now owns 1,561,700 shares of the company’s stock worth $43,743,000 after buying an additional 158,245 shares during the period. Institutional investors own 77.02% of the company’s stock.

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