PharMerica Corp. (PMC) Trading Down 2.5%
PharMerica Corp. (NYSE:PMC) shares were down 2.5% on Thursday . The stock traded as low as $24.88 and last traded at $24.94, with a volume of 419,408 shares. The stock had previously closed at $25.57.
Several research analysts have weighed in on PMC shares. Zacks Investment Research upgraded PharMerica Corp. from a “sell” rating to a “hold” rating in a report on Wednesday. TheStreet downgraded PharMerica Corp. from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Barrington Research reissued an “outperform” rating and issued a $34.00 price target (up previously from $30.00) on shares of PharMerica Corp. in a research note on Tuesday, May 10th. Finally, Bank of America Corp. assumed 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $31.57.
The stock’s 50 day moving average price is $25.02 and its 200-day moving average price is $24.63. The company has a market cap of $772.48 million and a price-to-earnings ratio of 25.94.
PharMerica Corp. (NYSE:PMC) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.47 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.47. During the same quarter in the previous year, the company earned $0.48 earnings per share. The company earned $519.60 million during the quarter, compared to analyst estimates of $508.31 million. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts expect that PharMerica Corp. will post $2.01 EPS for the current year.
An institutional investor recently raised its position in PharMerica Corp. stock. Wells Fargo & Company MN boosted its position in shares of PharMerica Corp. (NYSE:PMC) by 3.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 305,474 shares of the company’s stock after buying an additional 10,609 shares during the period. Wells Fargo & Company MN owned approximately 1.00% of PharMerica Corp. worth $10,692,000 as of its most recent SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.