Zacks Investment Research upgraded shares of PharMerica Corp. (NYSE:PMC) from a sell rating to a hold rating in a research report report published on Friday morning.

According to Zacks, “PharMerica Corporation is an institutional pharmacy services provider dedicated to providing quality customer service and innovative pharmacy solutions to institutional customers and patients in long-term care settings. PharMerica is a public company formed through the combination of the institutional pharmacy business of national healthcare services company Kindred Healthcare, Inc. and pharmaceutical services company AmerisourceBergen Corporation. As a result of this combination, PharMerica ranks as an industry-leading U.S. provider of institutional pharmacy services in terms of annual revenues. “

Shares of PharMerica Corp. (NYSE:PMC) opened at 24.05 on Friday. PharMerica Corp. has a 12-month low of $19.20 and a 12-month high of $35.47. The firm has a market cap of $740.28 million, a P/E ratio of 21.92 and a beta of 0.98. The stock’s 50 day moving average price is $24.88 and its 200-day moving average price is $25.53.

PharMerica Corp. (NYSE:PMC) last issued its earnings results on Wednesday, November 9th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by $0.07. PharMerica Corp. had a return on equity of 10.40% and a net margin of 1.64%. The firm had revenue of $512.60 million for the quarter, compared to analyst estimates of $530.01 million. During the same period in the previous year, the company earned $0.39 earnings per share. PharMerica Corp.’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, analysts predict that PharMerica Corp. will post $1.87 earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in PharMerica Corp. by 7.5% in the second quarter. Public Employees Retirement System of Ohio now owns 4,215 shares of the company’s stock worth $104,000 after buying an additional 293 shares during the last quarter. Teacher Retirement System of Texas raised its stake in PharMerica Corp. by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 4,243 shares of the company’s stock worth $105,000 after buying an additional 523 shares during the last quarter. SG Americas Securities LLC bought a new stake in PharMerica Corp. during the third quarter worth approximately $154,000. Mason Street Advisors LLC bought a new stake in PharMerica Corp. during the second quarter worth approximately $148,000. Finally, Sei Investments Co. raised its stake in PharMerica Corp. by 3.8% in the second quarter. Sei Investments Co. now owns 6,638 shares of the company’s stock worth $163,000 after buying an additional 240 shares during the last quarter. 96.41% of the stock is currently owned by institutional investors.

PharMerica Corp. Company Profile

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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