Comerica Bank Trims Stake in Diplomat Pharmacy, Inc. (DPLO)
Comerica Bank trimmed its holdings in Diplomat Pharmacy, Inc. (NYSE:DPLO) by 4.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,951 shares of the company’s stock after selling 2,296 shares during the quarter. Comerica Bank owned 0.07% of Diplomat Pharmacy worth $711,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Legal & General Group Plc boosted its position in shares of Diplomat Pharmacy by 8.9% in the second quarter. Legal & General Group Plc now owns 85,471 shares of the company’s stock valued at $1,265,000 after acquiring an additional 6,964 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Diplomat Pharmacy by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 583,597 shares of the company’s stock valued at $8,636,000 after acquiring an additional 10,806 shares during the period. State of Wisconsin Investment Board boosted its position in shares of Diplomat Pharmacy by 9.9% in the second quarter. State of Wisconsin Investment Board now owns 278,000 shares of the company’s stock valued at $4,114,000 after acquiring an additional 25,000 shares during the period. Wrapmanager Inc. boosted its position in shares of Diplomat Pharmacy by 23.3% in the second quarter. Wrapmanager Inc. now owns 13,970 shares of the company’s stock valued at $207,000 after acquiring an additional 2,640 shares during the period. Finally, Sigma Planning Corp boosted its position in shares of Diplomat Pharmacy by 9.9% in the second quarter. Sigma Planning Corp now owns 13,924 shares of the company’s stock valued at $206,000 after acquiring an additional 1,250 shares during the period. 69.89% of the stock is owned by institutional investors.
DPLO has been the subject of several research reports. Bank of America Corporation increased their price objective on Diplomat Pharmacy from $17.00 to $18.50 and gave the company a “neutral” rating in a research report on Thursday, May 25th. BidaskClub cut Diplomat Pharmacy from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Zacks Investment Research cut Diplomat Pharmacy from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Needham & Company LLC initiated coverage on Diplomat Pharmacy in a research report on Friday, July 21st. They issued a “buy” rating and a $19.75 target price for the company. Finally, TheStreet raised Diplomat Pharmacy from a “d+” rating to a “c-” rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.66.
Shares of Diplomat Pharmacy, Inc. (NYSE DPLO) opened at 20.76 on Friday. The stock has a 50 day moving average price of $16.96 and a 200-day moving average price of $16.32. Diplomat Pharmacy, Inc. has a 52 week low of $12.25 and a 52 week high of $29.65. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 113.44 and a beta of 0.65.
Diplomat Pharmacy (NYSE:DPLO) last posted its quarterly earnings results on Monday, August 7th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.10. Diplomat Pharmacy had a return on equity of 7.97% 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 quarter in the previous year, the firm earned $0.23 EPS. Diplomat Pharmacy’s revenue was up 3.5% on a year-over-year basis. On average, equities research analysts forecast that Diplomat Pharmacy, Inc. will post $0.75 earnings per share for the current year.
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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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