Bank of Montreal Can Acquires Shares of 550,360 PharMerica Corp. (PMC)
Bank of Montreal Can purchased a new position in shares of PharMerica Corp. (NYSE:PMC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 550,360 shares of the company’s stock, valued at approximately $13,572,000.
Several other hedge funds and other institutional investors have also modified their holdings of PMC. Capstone Asset Management Co. boosted its stake in PharMerica Corp. by 0.9% in the second quarter. Capstone Asset Management Co. now owns 12,321 shares of the company’s stock worth $304,000 after buying an additional 110 shares during the last quarter. Arizona State Retirement System boosted its stake in PharMerica Corp. by 4.0% in the first quarter. Arizona State Retirement System now owns 15,616 shares of the company’s stock worth $345,000 after buying an additional 600 shares during the last quarter. Springbok Capital Management LLC boosted its stake in PharMerica Corp. by 22.8% in the first quarter. Springbok Capital Management LLC now owns 7,000 shares of the company’s stock worth $155,000 after buying an additional 1,300 shares during the last quarter. A.R.T. Advisors LLC boosted its stake in PharMerica Corp. by 6.5% in the first quarter. A.R.T. Advisors LLC now owns 29,467 shares of the company’s stock worth $651,000 after buying an additional 1,800 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in PharMerica Corp. by 12.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 23,883 shares of the company’s stock worth $528,000 after buying an additional 2,665 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.
Shares of PharMerica Corp. (NYSE:PMC) traded up 1.23% during mid-day trading on Friday, hitting $28.07. The company’s stock had a trading volume of 276,220 shares. The company has a 50-day moving average price of $25.51 and a 200-day moving average price of $24.85. PharMerica Corp. has a 1-year low of $19.79 and a 1-year high of $35.81. The stock has a market cap of $863.55 million, a PE ratio of 29.00 and a beta of 0.87.
PharMerica Corp. (NYSE:PMC) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.47 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.47. PharMerica Corp. had a net margin of 1.44% and a return on equity of 10.00%. The business earned $519.60 million during the quarter, compared to analysts’ expectations of $508.31 million. During the same quarter in the prior year, the company earned $0.48 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts predict that PharMerica Corp. will post $2.01 EPS for the current fiscal year.
A number of analysts recently issued reports on the company. Zacks Investment Research raised PharMerica Corp. from a “sell” rating to a “hold” rating in a research report on Friday, September 23rd. Bank of America Corp. assumed coverage on PharMerica Corp. in a research report on Tuesday, June 7th. They set a “buy” rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. PharMerica Corp. currently has an average rating of “Buy” and a consensus price target of $31.57.
About PharMerica Corp.
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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