Diplomat Pharmacy, Inc. (NYSE:DPLO) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS
Diplomat Pharmacy, Inc. (NYSE:DPLO) posted its quarterly earnings data on Monday. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.10, Briefing.com reports. Diplomat Pharmacy had a return on equity of 8.03% and a net margin of 0.27%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the business earned $0.23 earnings per share. Diplomat Pharmacy’s revenue for the quarter was up 3.5% compared to the same quarter last year. Diplomat Pharmacy updated its FY17 guidance to $0.71-0.79 EPS.
Shares of Diplomat Pharmacy (DPLO) traded down 3.86% during trading on Wednesday, reaching $15.96. The company’s stock had a trading volume of 299,065 shares. The firm has a market cap of $1.07 billion, a PE ratio of 63.59 and a beta of 0.66. The company’s 50 day moving average price is $15.76 and its 200 day moving average price is $15.65. Diplomat Pharmacy has a 12 month low of $12.25 and a 12 month high of $37.83.
DPLO has been the subject of several research reports. Cowen and Company raised their target price on Diplomat Pharmacy from $12.00 to $17.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 9th. Barclays PLC set a $20.00 price objective on Diplomat Pharmacy and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Mizuho raised their target price on Diplomat Pharmacy from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, May 16th. Leerink Swann restated a “market perform” rating and issued a $18.00 target price (up from $16.00) on shares of Diplomat Pharmacy in a research note on Wednesday, May 17th. Finally, Bank of America Corporation raised their target price on Diplomat Pharmacy from $17.00 to $18.50 and gave the company a “neutral” rating in a research note on Thursday, May 25th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Diplomat Pharmacy presently has a consensus rating of “Hold” and a consensus target price of $20.91.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Diplomat Pharmacy by 158,977.3% in the first quarter. BlackRock Inc. now owns 5,548,617 shares of the company’s stock valued at $88,501,000 after buying an additional 5,545,129 shares during the last quarter. Frontier Capital Management Co. LLC bought a new position in Diplomat Pharmacy during the first quarter worth $87,015,000. Redmile Group LLC raised its position in Diplomat Pharmacy by 718.1% in the first quarter. Redmile Group LLC now owns 1,254,342 shares of the company’s stock worth $20,007,000 after buying an additional 1,101,025 shares in the last quarter. Victory Capital Management Inc. raised its position in Diplomat Pharmacy by 52,972.3% in the first quarter. Victory Capital Management Inc. now owns 961,140 shares of the company’s stock worth $15,330,000 after buying an additional 959,329 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Diplomat Pharmacy by 14.2% in the first quarter. Vanguard Group Inc. now owns 3,866,811 shares of the company’s stock worth $61,676,000 after buying an additional 481,710 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.
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Diplomat Pharmacy Company Profile
Diplomat Pharmacy, Inc (Diplomat) operates a specialty pharmacy business, which stocks, dispenses and distributes prescriptions for various biotechnology and specialty pharmaceutical manufacturers. The Company operates through specialty pharmacy services segment. The Company’s primary focus is on medication management programs for individuals with chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, specialty infusion therapy, and various other serious and/or long-term conditions.
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