Deutsche Bank Begins Coverage on Diplomat Pharmacy (DPLO)
Deutsche Bank began coverage on shares of Diplomat Pharmacy (NYSE:DPLO) in a research report sent to investors on Monday, MarketBeat.com reports. The firm issued a buy rating and a $22.00 price target on the stock.
Several other research firms also recently issued reports on DPLO. TheStreet raised Diplomat Pharmacy from a d+ rating to a c- rating in a research report on Thursday, August 10th. BidaskClub raised Diplomat Pharmacy from a hold rating to a buy rating in a research report on Tuesday, September 26th. Robert W. Baird reaffirmed a buy rating and set a $20.00 price target on shares of Diplomat Pharmacy in a research report on Sunday, September 17th. Zacks Investment Research raised Diplomat Pharmacy from a sell rating to a hold rating in a research report on Wednesday, August 9th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $23.75 price target (up from $19.75) on shares of Diplomat Pharmacy in a research report on Wednesday, October 4th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $20.39.
Shares of Diplomat Pharmacy (NYSE:DPLO) opened at $18.45 on Monday. Diplomat Pharmacy has a twelve month low of $12.25 and a twelve month high of $21.99. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1,254.87, a price-to-earnings ratio of 23.66, a PEG ratio of 3.29 and a beta of 0.61.
Diplomat Pharmacy (NYSE:DPLO) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.15 by $0.10. Diplomat Pharmacy had a return on equity of 8.30% and a net margin of 0.18%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the business posted $0.21 EPS. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. sell-side analysts expect that Diplomat Pharmacy will post 0.85 earnings per share for the current year.
In related news, Director Jeffrey G. Park purchased 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $15.46 per share, with a total value of $46,380.00. Following the purchase, the director now owns 7,640 shares of the company’s stock, valued at approximately $118,114.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Atul Kavthekar purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average cost of $15.00 per share, for a total transaction of $30,000.00. Following the completion of the purchase, the chief financial officer now directly owns 2,000 shares in the company, valued at approximately $30,000. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 15,000 shares of company stock worth $228,780. Corporate insiders own 30.20% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC purchased a new position in Diplomat Pharmacy in the 2nd quarter worth approximately $67,476,000. Cortina Asset Management LLC lifted its stake in Diplomat Pharmacy by 538.8% in the 3rd quarter. Cortina Asset Management LLC now owns 1,616,792 shares of the company’s stock worth $33,484,000 after purchasing an additional 1,363,696 shares in the last quarter. Northern Trust Corp lifted its stake in Diplomat Pharmacy by 95.1% in the 2nd quarter. Northern Trust Corp now owns 1,234,477 shares of the company’s stock worth $18,270,000 after purchasing an additional 601,834 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Diplomat Pharmacy by 149.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 894,669 shares of the company’s stock worth $18,528,000 after purchasing an additional 536,412 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Diplomat Pharmacy by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 3,866,811 shares of the company’s stock worth $61,676,000 after purchasing an additional 481,710 shares in the last quarter. 72.48% of the stock is currently owned by hedge funds and other institutional investors.
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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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