PharMerica Corp. (PMC) Shares Up 1.3%
Shares of PharMerica Corp. (NYSE:PMC) shot up 1.3% during mid-day trading on Friday . The company traded as high as $25.17 and last traded at $25.00, with a volume of 269,098 shares traded. The stock had previously closed at $24.67.
A number of brokerages have issued reports on PMC. Zacks Investment Research upgraded shares of PharMerica Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday. Bank of America Corp. assumed coverage on shares of PharMerica Corp. in a research note on Tuesday, June 7th. They set a “buy” rating and a $32.00 target price on the stock. TheStreet lowered shares of PharMerica Corp. from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Finally, Barrington Research restated an “outperform” rating and set a $34.00 target price (up from $30.00) on shares of PharMerica Corp. in a research note on Tuesday, May 10th. 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 company. The stock has an average rating of “Buy” and an average price target of $31.57.
The company has a market cap of $772.48 million and a P/E ratio of 25.94. The company’s 50-day moving average is $25.02 and its 200 day moving average is $24.63.
PharMerica Corp. (NYSE:PMC) last issued its quarterly 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. During the same period in the previous year, the business posted $0.48 earnings per share. The business earned $519.60 million during the quarter, compared to analyst estimates of $508.31 million. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts anticipate that PharMerica Corp. will post $2.01 EPS for the current fiscal year.
A hedge fund recently raised its stake in PharMerica Corp. stock. Wells Fargo & Company MN raised its position in PharMerica Corp. (NYSE:PMC) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 305,474 shares of the company’s stock after buying an additional 10,609 shares during the period. Wells Fargo & Company MN owned 1.00% of PharMerica Corp. worth $10,692,000 at the end of the most recent 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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