PharMerica Corp. (PMC) Stock Price Up 3.6%
Shares of PharMerica Corp. (NYSE:PMC) rose 3.6% during mid-day trading on Friday . The company traded as high as $22.12 and last traded at $22.09, with a volume of 307,633 shares traded. The stock had previously closed at $21.32.
PMC has been the topic of a number of research analyst reports. TheStreet lowered PharMerica Corp. from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Zacks Investment Research raised PharMerica Corp. from a “hold” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research note on Thursday, May 12th. Bank of America Corp. initiated coverage on PharMerica Corp. in a research note on Tuesday, June 7th. They issued a “buy” rating and a $32.00 price target on the stock. Finally, Barrington Research reissued an “outperform” rating and issued a $34.00 price target (up from $30.00) on shares of PharMerica Corp. in a research note on Tuesday, May 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $31.57.
The company has a market cap of $678.96 million and a price-to-earnings ratio of 22.80. The company’s 50 day moving average is $25.12 and its 200 day moving average is $24.74.
PharMerica Corp. (NYSE:PMC) last announced its earnings results on Tuesday, August 9th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. The company had revenue of $519.60 million for the quarter, compared to analyst estimates of $508.31 million. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. Analysts predict that PharMerica Corp. will post $2.01 earnings per share for the current year.
Several large investors recently made changes to their positions in the company. Redwood Investments LLC raised its stake 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 during the period. Trexquant Investment LP raised its stake 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 during the period. Wells Fargo & Company MN raised its stake 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 during the period. Finally, California Public Employees Retirement System raised its stake 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 during the period.
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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