PharMerica Corp. (NYSE:PMC)’s share price fell 3.5% during mid-day trading on Wednesday . The stock traded as low as $21.45 and last traded at $21.57, with a volume of 84,117 shares trading hands. The stock had previously closed at $22.35.

Several brokerages have recently issued reports on PMC. TheStreet lowered shares of PharMerica Corp. from a “buy” rating to a “hold” rating in a report on Monday, May 9th. Zacks Investment Research raised shares of PharMerica Corp. from a “hold” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research note on Thursday, May 12th. Barrington Research reaffirmed an “outperform” rating and issued a $34.00 target price (up from $30.00) on shares of PharMerica Corp. in a research note on Tuesday, May 10th. Finally, Bank of America Corp. started coverage on shares of PharMerica Corp. in a research note on Tuesday, June 7th. They issued a “buy” rating and a $32.00 target price for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $31.57.

The company has a 50-day moving average price of $25.20 and a 200-day moving average price of $24.79. The firm has a market capitalization of $651.27 million and a P/E ratio of 21.87.

PharMerica Corp. (NYSE:PMC) last announced its earnings results on Tuesday, August 9th. The company reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. The firm had revenue of $519.60 million for the quarter, compared to the consensus estimate of $508.31 million. During the same period in the prior year, the business earned $0.48 EPS. PharMerica Corp.’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts anticipate that PharMerica Corp. will post $2.01 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the company. Trexquant Investment LP increased its position in shares of PharMerica Corp. by 148.9% in the fourth quarter. Trexquant Investment LP now owns 30,140 shares of the company’s stock worth $1,055,000 after buying an additional 18,031 shares in the last quarter. Redwood Investments LLC increased its position in shares of PharMerica Corp. by 6.3% in the fourth quarter. Redwood Investments LLC now owns 58,400 shares of the company’s stock worth $2,044,000 after buying an additional 3,444 shares in the last quarter. California Public Employees Retirement System increased its position in shares of PharMerica Corp. by 3.8% in the fourth quarter. California Public Employees Retirement System now owns 111,808 shares of the company’s stock worth $3,913,000 after buying an additional 4,100 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of PharMerica Corp. by 3.6% in the fourth quarter. Wells Fargo & Company MN now owns 305,474 shares of the company’s stock worth $10,692,000 after buying an additional 10,609 shares in the last quarter. Finally, Airain ltd increased its position in shares of PharMerica Corp. by 8,998.1% in the fourth quarter. Airain ltd now owns 1,222,061 shares of the company’s stock worth $14,499,000 after buying an additional 1,208,629 shares in the last quarter.

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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