Bank of New York Mellon Corp cut its position in shares of Pharmerica Corporation (NYSE:PMC) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 397,269 shares of the company’s stock after selling 7,739 shares during the period. Bank of New York Mellon Corp owned about 1.28% of Pharmerica Corporation worth $10,428,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PMC. SG Americas Securities LLC bought a new stake in shares of Pharmerica Corporation during the first quarter valued at approximately $121,000. Russell Investments Group Ltd. increased its position in shares of Pharmerica Corporation by 124.5% during the second quarter. Russell Investments Group Ltd. now owns 4,886 shares of the company’s stock valued at $128,000 after purchasing an additional 2,710 shares during the period. State of Alaska Department of Revenue increased its position in shares of Pharmerica Corporation by 79.8% during the second quarter. State of Alaska Department of Revenue now owns 6,112 shares of the company’s stock valued at $160,000 after purchasing an additional 2,712 shares during the period. US Bancorp DE increased its position in shares of Pharmerica Corporation by 41.3% during the first quarter. US Bancorp DE now owns 7,121 shares of the company’s stock valued at $167,000 after purchasing an additional 2,081 shares during the period. Finally, Mason Street Advisors LLC increased its position in shares of Pharmerica Corporation by 7.0% during the first quarter. Mason Street Advisors LLC now owns 7,200 shares of the company’s stock valued at $168,000 after purchasing an additional 474 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.

Shares of Pharmerica Corporation (NYSE:PMC) opened at 29.20 on Tuesday. Pharmerica Corporation has a 12 month low of $19.20 and a 12 month high of $29.40. The firm has a 50-day moving average price of $28.94 and a 200-day moving average price of $25.67. The company has a market capitalization of $908.73 million, a PE ratio of 39.57 and a beta of 0.84.

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

A number of analysts have weighed in on PMC shares. Zacks Investment Research upgraded Pharmerica Corporation from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Saturday, June 24th. ValuEngine cut Pharmerica Corporation from a “buy” rating to a “hold” rating in a research report on Friday. Credit Suisse Group cut Pharmerica Corporation from an “outperform” rating to a “neutral” rating and upped their price target for the company from $29.00 to $29.25 in a research report on Friday, August 4th. They noted that the move was a valuation call. UBS AG reiterated a “neutral” rating and issued a $29.25 price target (up from $26.00) on shares of Pharmerica Corporation in a research report on Thursday, August 3rd. Finally, KeyCorp cut Pharmerica Corporation to an “overweight” rating in a research report on Tuesday, August 8th. Two investment 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. The stock presently has an average rating of “Hold” and a consensus target price of $28.83.

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Pharmerica Corporation Profile

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

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