Hermes Investment Management Ltd. decreased its position in shares of Diplomat Pharmacy, Inc. (NYSE:DPLO) by 8.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,622,336 shares of the company’s stock after selling 150,441 shares during the period. Hermes Investment Management Ltd. owned approximately 2.42% of Diplomat Pharmacy worth $24,011,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in DPLO. BlackRock Inc. raised its stake in Diplomat Pharmacy by 158,977.3% in the first quarter. BlackRock Inc. now owns 5,548,617 shares of the company’s stock worth $88,501,000 after buying an additional 5,545,129 shares during the period. Frontier Capital Management Co. LLC bought a new stake in Diplomat Pharmacy during the first quarter worth $87,015,000. Redmile Group LLC raised its stake in Diplomat Pharmacy by 718.1% in the first quarter. Redmile Group LLC now owns 1,254,342 shares of the company’s stock worth $20,007,000 after buying an additional 1,101,025 shares during the period. Victory Capital Management Inc. raised its stake in Diplomat Pharmacy by 52,972.3% in the first quarter. Victory Capital Management Inc. now owns 961,140 shares of the company’s stock worth $15,330,000 after buying an additional 959,329 shares during the period. Finally, Vanguard Group Inc. raised its stake in Diplomat Pharmacy by 14.2% in the first quarter. Vanguard Group Inc. now owns 3,866,811 shares of the company’s stock worth $61,676,000 after buying an additional 481,710 shares during the period. 72.02% of the stock is owned by hedge funds and other institutional investors.
Shares of Diplomat Pharmacy, Inc. (NYSE:DPLO) opened at 16.20 on Friday. Diplomat Pharmacy, Inc. has a 1-year low of $12.25 and a 1-year high of $34.80. The stock has a market capitalization of $1.09 billion, a PE ratio of 88.52 and a beta of 0.66. The stock has a 50 day moving average price of $15.43 and a 200-day moving average price of $15.74.
Diplomat Pharmacy (NYSE:DPLO) last issued its quarterly earnings results on Monday, August 7th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.10. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Diplomat Pharmacy had a return on equity of 7.97% and a net margin of 0.27%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS. On average, analysts forecast that Diplomat Pharmacy, Inc. will post $0.75 earnings per share for the current year.
DPLO has been the subject of a number of recent analyst reports. Barclays PLC set a $20.00 target price on Diplomat Pharmacy and gave the company a “buy” rating in a report on Tuesday, May 9th. Zacks Investment Research downgraded Diplomat Pharmacy from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Bank of America Corporation upped their target price on Diplomat Pharmacy from $17.00 to $18.50 and gave the company a “neutral” rating in a report on Thursday, May 25th. Mizuho upped their target price on Diplomat Pharmacy from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, May 16th. Finally, Leerink Swann restated a “market perform” rating and set a $18.00 target price (up previously from $16.00) on shares of Diplomat Pharmacy in a report on Wednesday, May 17th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $17.89.
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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