PharMerica Co. (NYSE:PMC) Downgraded to Sell at BidaskClub

PharMerica Co. (NYSE:PMC) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Monday, July 31st.

Other analysts have also issued research reports about the company. Zacks Investment Research lowered PharMerica from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. ValuEngine downgraded PharMerica from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two 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’s stock. The stock has an average rating of “Hold” and an average price target of $28.83.

PharMerica (NYSE PMC) traded down 0.17% on Monday, hitting $29.05. The stock had a trading volume of 346,427 shares. PharMerica has a one year low of $19.20 and a one year high of $29.10. The stock has a market cap of $904.07 million, a price-to-earnings ratio of 39.36 and a beta of 0.92. The stock’s 50 day moving average is $26.52 and its 200 day moving average is $24.91.

PharMerica (NYSE:PMC) last posted its earnings results on Wednesday, August 2nd. The company reported $0.47 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. The company had revenue of $592 million for the quarter, compared to analyst estimates of $592.96 million. PharMerica had a return on equity of 3.41% and a net margin of 0.79%. PharMerica’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. Analysts anticipate that PharMerica will post $1.92 earnings per share for the current year.

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A number of large investors have recently modified their holdings of PMC. BlackRock Inc. raised its position in shares of PharMerica by 51,604.4% in the first quarter. BlackRock Inc. now owns 3,975,551 shares of the company’s stock valued at $93,027,000 after buying an additional 3,967,862 shares during the last quarter. Vanguard Group Inc. raised its position in PharMerica by 5.5% in the second quarter. Vanguard Group Inc. now owns 1,649,704 shares of the company’s stock worth $43,305,000 after buying an additional 85,838 shares in the last quarter. Boston Partners raised its position in PharMerica by 10.7% in the second quarter. Boston Partners now owns 1,376,287 shares of the company’s stock worth $36,127,000 after buying an additional 133,339 shares in the last quarter. Victory Capital Management Inc. raised its position in PharMerica by 40.1% in the second quarter. Victory Capital Management Inc. now owns 1,294,142 shares of the company’s stock worth $33,971,000 after buying an additional 370,266 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of PharMerica by 61.3% in the first quarter. Nuveen Asset Management LLC now owns 863,975 shares of the company’s stock valued at $20,217,000 after buying an additional 328,257 shares during the last quarter. Hedge funds and other institutional investors own 92.84% of the company’s stock.

PharMerica Company Profile

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