PharMerica Corp. (PMC) Sees Strong Trading Volume
PharMerica Corp. (NYSE:PMC) shares saw unusually-strong trading volume on Wednesday . Approximately 1,363,709 shares were traded during trading, an increase of 273% from the previous session’s volume of 365,742 shares.The stock last traded at $25.97 and had previously closed at $22.55.
A number of research analysts recently weighed in on PMC shares. Bank of America Corp. started coverage on PharMerica Corp. in a report on Tuesday, June 7th. They set a “buy” rating and a $32.00 target price on the stock. Zacks Investment Research lowered PharMerica Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 13th. TheStreet lowered PharMerica Corp. from a “buy” rating to a “hold” rating in a report on Monday, May 9th. Finally, Barrington Research reissued an “outperform” rating and set a $34.00 target price (up from $30.00) on shares of PharMerica Corp. in a report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.57.
The stock has a market capitalization of $771.25 million and a price-to-earnings ratio of 25.90. The stock’s 50 day moving average is $25.02 and its 200-day moving average is $24.64.
PharMerica Corp. (NYSE:PMC) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. During the same quarter in the previous year, the company posted $0.48 EPS. The firm earned $519.60 million during the quarter, compared to the consensus estimate of $508.31 million. The firm’s revenue was up 4.4% on a year-over-year basis. Analysts predict that PharMerica Corp. will post $2.01 earnings per share for the current fiscal year.
An institutional investor recently raised its position in PharMerica Corp. stock. Trexquant Investment LP increased its position in shares of PharMerica Corp. (NYSE:PMC) by 148.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,140 shares of the company’s stock after buying an additional 18,031 shares during the period. Trexquant Investment LP owned 0.10% of PharMerica Corp. worth $1,055,000 at the end of the most recent reporting period.
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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