Trading Report: Today: PharMerica Corp. (PMC) Upgrade by The Zacks Investment Research to Hold

Today: PharMerica Corp. (PMC) Upgrade by The Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of PharMerica Corp. (NYSE:PMC) from a sell rating to a hold rating in a report issued on Friday.

According to Zacks, “PharMerica Corporation is an institutional pharmacy services provider dedicated to providing quality customer service and innovative pharmacy solutions to institutional customers and patients in long-term care settings. PharMerica is a public company formed through the combination of the institutional pharmacy business of national healthcare services company Kindred Healthcare, Inc. and pharmaceutical services company AmerisourceBergen Corporation. As a result of this combination, PharMerica ranks as an industry-leading U.S. provider of institutional pharmacy services in terms of annual revenues. “

Shares of PharMerica Corp. (NYSE:PMC) opened at 24.45 on Friday. The company’s 50 day moving average price is $25.10 and its 200 day moving average price is $25.58. PharMerica Corp. has a 12 month low of $19.20 and a 12 month high of $35.47. The stock has a market capitalization of $752.60 million, a PE ratio of 22.29 and a beta of 0.98.

PharMerica Corp. (NYSE:PMC) last released its quarterly earnings results on Wednesday, November 9th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by $0.07. The firm had revenue of $512.60 million for the quarter, compared to analysts’ expectations of $530.01 million. PharMerica Corp. had a return on equity of 10.40% and a net margin of 1.64%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 EPS. Equities analysts anticipate that PharMerica Corp. will post $1.87 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in 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 in the last quarter. BlackRock Fund Advisors increased its position in shares of PharMerica Corp. by 6.7% in the third quarter. BlackRock Fund Advisors now owns 2,347,889 shares of the company’s stock valued at $65,905,000 after buying an additional 147,793 shares during the period. Ameriprise Financial Inc. increased its position in shares of PharMerica Corp. by 2.8% in the third quarter. Ameriprise Financial Inc. now owns 1,148,270 shares of the company’s stock valued at $32,231,000 after buying an additional 30,976 shares during the period. Victory Capital Management Inc. increased its position 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 valued at $27,760,000 after buying an additional 84,653 shares during the period. Finally, American Century Companies Inc. increased its position 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 valued at $24,664,000 after buying an additional 37,114 shares during the period. Hedge funds and other institutional investors own 96.41% of the company’s stock.

About PharMerica Corp.

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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