Barrington Research Lowers Pharmerica Corporation (PMC) to Underperform
Pharmerica Corporation (NYSE:PMC) was downgraded by equities researchers at Barrington Research from an “outperform” rating to an “underperform” rating in a report issued on Wednesday. Barrington Research also issued estimates for Pharmerica Corporation’s Q4 2018 earnings at $0.59 EPS.
A number of other research analysts have also weighed in on PMC. BidaskClub lowered shares of Pharmerica Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. UBS AG reissued a “neutral” rating and issued a $29.25 target price (up from $26.00) on shares of Pharmerica Corporation in a research note on Thursday, August 3rd. KeyCorp lowered shares of Pharmerica Corporation to an “overweight” rating in a research note on Wednesday, August 2nd. Credit Suisse Group lowered shares of Pharmerica Corporation from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $28.95 to $19.20 in a research note on Friday, August 4th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Pharmerica Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.48.
Shares of Pharmerica Corporation (NYSE PMC) opened at 28.95 on Wednesday. The company has a market capitalization of $910.19 million, a PE ratio of 39.23 and a beta of 0.92. The firm’s 50-day moving average price is $26.08 and its 200 day moving average price is $24.81. Pharmerica Corporation has a 52 week low of $19.20 and a 52 week high of $29.00.
Pharmerica Corporation (NYSE:PMC) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.47 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.47. The firm had revenue of $592 million for the quarter, compared to analyst estimates of $592.96 million. Pharmerica Corporation had a net margin of 1.05% and a return on equity of 10.94%. Pharmerica Corporation’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company posted $0.47 EPS. Equities analysts predict that Pharmerica Corporation will post $1.91 EPS for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Pharmerica Corporation during the fourth quarter worth $3,864,000. Teachers Advisors LLC raised its position in Pharmerica Corporation by 4.9% in the fourth quarter. Teachers Advisors LLC now owns 357,845 shares of the company’s stock worth $9,000,000 after buying an additional 16,715 shares during the period. Louisiana State Employees Retirement System raised its position in Pharmerica Corporation by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the company’s stock worth $293,000 after buying an additional 100 shares during the period. Candriam Luxembourg S.C.A. raised its position in Pharmerica Corporation by 9.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 72,000 shares of the company’s stock worth $1,685,000 after buying an additional 6,000 shares during the period. Finally, Fisher Asset Management LLC raised its position in Pharmerica Corporation by 32.6% in the first quarter. Fisher Asset Management LLC now owns 70,707 shares of the company’s stock worth $1,655,000 after buying an additional 17,395 shares during the period. 92.84% of the stock is currently owned by institutional investors and hedge funds.
About Pharmerica Corporation
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