Boston Advisors LLC Raises Stake in PharMerica Corp. (PMC)
Boston Advisors LLC increased its stake in PharMerica Corp. (NYSE:PMC) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,985 shares of the company’s stock after buying an additional 105 shares during the period. Boston Advisors LLC’s holdings in PharMerica Corp. were worth $493,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in PharMerica Corp. by 2.2% in the first quarter. BlackRock Fund Advisors now owns 2,146,542 shares of the company’s stock valued at $47,460,000 after buying an additional 46,633 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in PharMerica Corp. by 2.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 815,898 shares of the company’s stock valued at $18,040,000 after buying an additional 17,086 shares during the period. JPMorgan Chase & Co. increased its position in PharMerica Corp. by 5.7% in the first quarter. JPMorgan Chase & Co. now owns 687,395 shares of the company’s stock valued at $15,198,000 after buying an additional 36,800 shares during the period. Bank of Montreal Can bought a new position in PharMerica Corp. during the second quarter valued at $13,572,000. Finally, Loomis Sayles & Co. L P increased its position in PharMerica Corp. by 81.8% in the first quarter. Loomis Sayles & Co. L P now owns 411,190 shares of the company’s stock valued at $9,091,000 after buying an additional 185,055 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.
Shares of PharMerica Corp. (NYSE:PMC) traded up 0.51% during mid-day trading on Wednesday, hitting $27.81. 235,557 shares of the stock were exchanged. PharMerica Corp. has a one year low of $19.79 and a one year high of $35.81. The company has a 50-day moving average of $25.98 and a 200 day moving average of $25.03. The stock has a market cap of $855.55 million, a PE ratio of 28.73 and a beta of 0.88.
PharMerica Corp. (NYSE:PMC) last issued its earnings results on Tuesday, August 9th. The company reported $0.47 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. The business had revenue of $519.60 million for the quarter, compared to the consensus estimate of $508.31 million. PharMerica Corp. had a net margin of 1.44% and a return on equity of 10.00%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. On average, equities analysts predict that PharMerica Corp. will post $2.01 earnings per share for the current year.
A number of analysts have commented on PMC shares. Zacks Investment Research upgraded shares of PharMerica Corp. from a “sell” rating to a “hold” rating in a report on Friday, September 23rd. Bank of America Corp. started coverage on shares of PharMerica Corp. in a report on Tuesday, June 7th. They issued a “buy” rating and a $32.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price 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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