Los Angeles Capital Management & Equity Research Inc. lowered its position in shares of PharMerica Corp. (NYSE:PMC) by 73.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,639 shares of the company’s stock after selling 57,920 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned 0.07% of PharMerica Corp. worth $509,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Fund Advisors boosted its position in shares of PharMerica Corp. by 2.2% in the first quarter. BlackRock Fund Advisors now owns 2,146,542 shares of the company’s stock worth $47,460,000 after buying an additional 46,633 shares during the last quarter. HBK Investments L P boosted its position in shares of PharMerica Corp. by 11.1% in the first quarter. HBK Investments L P now owns 52,278 shares of the company’s stock worth $1,156,000 after buying an additional 5,203 shares during the last quarter. Springbok Capital Management LLC boosted its position in shares of PharMerica Corp. by 22.8% in the first quarter. Springbok Capital Management LLC now owns 7,000 shares of the company’s stock worth $155,000 after buying an additional 1,300 shares during the last quarter. UBS Group AG boosted its position in shares of PharMerica Corp. by 5.6% in the first quarter. UBS Group AG now owns 82,678 shares of the company’s stock worth $1,828,000 after buying an additional 4,407 shares during the last quarter. Finally, Icon Advisers Inc. Co. acquired a new position in shares of PharMerica Corp. during the first quarter worth approximately $818,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.
PharMerica Corp. (NYSE:PMC) traded down 3.62% during midday trading on Friday, hitting $27.15. 226,274 shares of the stock traded hands. The stock has a 50-day moving average of $25.03 and a 200 day moving average of $24.60. The firm has a market cap of $835.24 million, a PE ratio of 28.05 and a beta of 0.87. PharMerica Corp. has a 52-week low of $19.79 and a 52-week high of $35.81.
PharMerica Corp. (NYSE:PMC) last released its earnings results on Tuesday, August 9th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.47. PharMerica Corp. had a net margin of 1.44% and a return on equity of 10.00%. The business earned $519.60 million during the quarter, compared to analyst estimates of $508.31 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts forecast that PharMerica Corp. will post $2.01 EPS for the current year.
PMC has been the subject of a number of recent research reports. Bank of America Corp. initiated coverage on shares of PharMerica Corp. in a research note on Tuesday, June 7th. They issued a “buy” rating and a $32.00 price objective for the company. Zacks Investment Research cut shares of PharMerica Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. PharMerica Corp. has a consensus rating of “Buy” and a consensus target price of $31.57.
PharMerica Corp. Company Profile
PharMerica Corporation is an institutional pharmacy services company. The Company services healthcare facilities, provides pharmacy management services to hospitals, provides specialty infusion services to patients outside a hospital setting and offers the national oncology pharmacy in the United States.
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