PharMerica Corp. (PMC) Sees Large Volume Increase
Shares of PharMerica Corp. (NYSE:PMC) saw an uptick in trading volume on Wednesday . 1,363,709 shares traded hands during trading, an increase of 273% from the previous session’s volume of 365,742 shares.The stock last traded at $25.97 and had previously closed at $22.55.
A number of research firms have recently commented on PMC. Zacks Investment Research raised shares of PharMerica Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. Bank of America Corp. began coverage on shares of PharMerica Corp. in a research note on Tuesday, June 7th. They issued a “buy” rating and a $32.00 price objective on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $34.00 price objective (up from $30.00) on shares of PharMerica Corp. in a research note on Tuesday, May 10th. Finally, TheStreet lowered shares of PharMerica Corp. from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. PharMerica Corp. presently has an average rating of “Buy” and a consensus price target of $31.57.
The company has a market cap of $786.64 million and a P/E ratio of 26.42. The stock’s 50-day moving average price is $24.98 and its 200-day moving average price is $24.63.
PharMerica Corp. (NYSE:PMC) last announced its earnings results on Tuesday, August 9th. The company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. The company earned $519.60 million during the quarter, compared to analysts’ expectations of $508.31 million. During the same period in the prior year, the business earned $0.48 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts expect that PharMerica Corp. will post $2.01 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in PharMerica Corp. stock. Trexquant Investment LP raised its stake in PharMerica Corp. (NYSE:PMC) by 148.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,140 shares of the company’s stock after buying an additional 18,031 shares during the period. Trexquant Investment LP owned 0.10% of PharMerica Corp. worth $1,055,000 at the end of the most recent reporting 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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