Pharmerica Corporation (NYSE:PMC) shares saw strong trading volume on Wednesday . 810,440 shares were traded during trading, an increase of 79% from the previous session’s volume of 452,295 shares.The stock last traded at $29.15 and had previously closed at $28.95.

A number of equities research analysts recently issued reports on the stock. Barrington Research cut shares of Pharmerica Corporation from an “outperform” rating to an “underperform” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Pharmerica Corporation from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Saturday, June 24th. ValuEngine cut shares of Pharmerica Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub cut shares of Pharmerica Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, KeyCorp cut shares of Pharmerica Corporation to an “overweight” rating in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Pharmerica Corporation has a consensus rating of “Hold” and an average target price of $28.83.

The stock’s 50-day moving average is $28.46 and its 200 day moving average is $25.50. The firm has a market cap of $907.18 million, a P/E ratio of 39.50 and a beta of 0.84.

Pharmerica Corporation (NYSE:PMC) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.47 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. Pharmerica Corporation had a return on equity of 10.94% and a net margin of 1.05%. The company had revenue of $592.00 million during the quarter, compared to the consensus estimate of $592.96 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. The firm’s revenue was up 13.9% compared to the same quarter last year. On average, equities research analysts expect that Pharmerica Corporation will post $1.94 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in shares of Pharmerica Corporation by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 23,228 shares of the company’s stock valued at $610,000 after buying an additional 71 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Pharmerica Corporation by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the company’s stock valued at $293,000 after buying an additional 100 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Pharmerica Corporation by 0.9% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,614 shares of the company’s stock valued at $305,000 after buying an additional 100 shares during the period. Capstone Asset Management Co. increased its stake in shares of Pharmerica Corporation by 0.9% in the second quarter. Capstone Asset Management Co. now owns 16,041 shares of the company’s stock valued at $421,000 after buying an additional 150 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Pharmerica Corporation by 1.3% in the first quarter. Arizona State Retirement System now owns 16,016 shares of the company’s stock valued at $375,000 after buying an additional 200 shares during the period. 92.35% of the stock is owned by institutional investors.

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About Pharmerica Corporation

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