Mason Street Advisors LLC purchased a new stake in Diplomat Pharmacy Inc. (NYSE:DPLO) during the second quarter, Holdings Channel reports. The institutional investor purchased 7,094 shares of the company’s stock, valued at approximately $248,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in DPLO. BlackRock Fund Advisors increased its stake in Diplomat Pharmacy by 124.6% in the first quarter. BlackRock Fund Advisors now owns 2,387,152 shares of the company’s stock worth $65,408,000 after buying an additional 1,324,293 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in Diplomat Pharmacy during the first quarter worth $30,331,000. Capital World Investors increased its stake in Diplomat Pharmacy by 41.3% in the second quarter. Capital World Investors now owns 1,966,600 shares of the company’s stock worth $68,831,000 after buying an additional 575,000 shares during the last quarter. Vanguard Group Inc. increased its stake in Diplomat Pharmacy by 9.5% in the second quarter. Vanguard Group Inc. now owns 3,334,010 shares of the company’s stock worth $116,690,000 after buying an additional 289,571 shares during the last quarter. Finally, Hermes Investment Management Ltd. increased its stake in Diplomat Pharmacy by 15.2% in the second quarter. Hermes Investment Management Ltd. now owns 884,459 shares of the company’s stock worth $30,956,000 after buying an additional 116,920 shares during the last quarter. Institutional investors own 75.89% of the company’s stock.
Diplomat Pharmacy (NYSE:DPLO) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. Diplomat Pharmacy had a net margin of 1.08% and a return on equity of 11.57%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the firm earned $0.16 EPS. The firm’s revenue for the quarter was up 34.8% compared to the same quarter last year.
A number of analysts recently weighed in on the company. Cowen and Company began coverage on Diplomat Pharmacy in a report on Thursday, June 23rd. They issued a “market perform” rating and a $37.00 price objective for the company. Mizuho upped their price target on shares of Diplomat Pharmacy from $33.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, August 10th. Zacks Investment Research cut shares of Diplomat Pharmacy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Leerink Swann upped their price target on shares of Diplomat Pharmacy from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, August 10th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and set a $30.00 price target on shares of Diplomat Pharmacy in a research report on Friday, September 16th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $37.50.
In other Diplomat Pharmacy news, EVP Atheer A. Kaddis sold 12,325 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $35.76, for a total value of $440,742.00. Following the completion of the sale, the executive vice president now owns 12,325 shares in the company, valued at approximately $440,742. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Atheer A. Kaddis sold 20,000 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $30.12, for a total transaction of $602,400.00. Following the completion of the sale, the executive vice president now owns 20,000 shares of the company’s stock, valued at approximately $602,400. The disclosure for this sale can be found here. 35.40% of the stock is currently owned by corporate insiders.
About Diplomat Pharmacy
Diplomat Pharmacy, Inc operates a specialty pharmacy business, which stocks, dispenses and distributes prescriptions for various biotechnology and specialty pharmaceutical manufacturers. The Company’s primary focus is on medication management programs for individuals with chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, specialized infusion therapy, and various other serious and/or long-term conditions.
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