Systematic Financial Management LP decreased its stake in Pharmerica Corporation (NYSE:PMC) by 49.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 167,683 shares of the company’s stock after selling 161,983 shares during the period. Systematic Financial Management LP owned 0.54% of Pharmerica Corporation worth $4,402,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Pharmerica Corporation by 6.5% in the 1st quarter. JPMorgan Chase & Co. now owns 270,769 shares of the company’s stock worth $6,336,000 after purchasing an additional 16,613 shares during the last quarter. Peregrine Capital Management LLC lifted its holdings in shares of Pharmerica Corporation by 2.0% in the 2nd quarter. Peregrine Capital Management LLC now owns 430,934 shares of the company’s stock worth $11,312,000 after purchasing an additional 8,615 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Pharmerica Corporation by 40.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,294,142 shares of the company’s stock worth $33,971,000 after purchasing an additional 370,266 shares during the last quarter. Comerica Bank lifted its holdings in shares of Pharmerica Corporation by 17.1% in the 1st quarter. Comerica Bank now owns 38,381 shares of the company’s stock worth $912,000 after purchasing an additional 5,608 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Pharmerica Corporation by 12.7% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,514 shares of the company’s stock worth $269,000 after purchasing an additional 1,300 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.

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PMC has been the topic of several recent research reports. Zacks Investment Research raised Pharmerica Corporation from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Saturday, June 24th. ValuEngine downgraded Pharmerica Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Credit Suisse Group downgraded Pharmerica Corporation from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $29.00 to $29.25 in a research note on Friday, August 4th. They noted that the move was a valuation call. UBS AG reaffirmed a “neutral” rating and set a $29.25 target price (up previously from $26.00) on shares of Pharmerica Corporation in a research note on Thursday, August 3rd. Finally, KeyCorp downgraded Pharmerica Corporation to an “overweight” rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $28.83.

Shares of Pharmerica Corporation (NYSE PMC) opened at 28.95 on Wednesday. The company has a market cap of $900.95 million, a P/E ratio of 39.23 and a beta of 0.84. The firm’s 50-day moving average price is $28.37 and its 200 day moving average price is $25.47. Pharmerica Corporation has a 52 week low of $19.20 and a 52 week high of $29.40.

Pharmerica Corporation (NYSE:PMC) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.47 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.47. The business had revenue of $592.00 million for the quarter, compared to analyst estimates of $592.96 million. Pharmerica Corporation had a return on equity of 10.94% and a net margin of 1.05%. Pharmerica Corporation’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 EPS. On average, equities analysts predict that Pharmerica Corporation will post $1.94 EPS for the current fiscal year.

Pharmerica Corporation Company Profile

Institutional Ownership by Quarter for Pharmerica Corporation (NYSE:PMC)

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