Pharmerica Corporation (NYSE:PMC) Downgraded to Sell at BidaskClub

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

A number of other research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Pharmerica Corporation from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Saturday, June 24th. ValuEngine lowered shares of Pharmerica Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $28.83.

Pharmerica Corporation (NYSE:PMC) remained flat at $29.05 on Monday. 497,567 shares of the company traded hands. The stock has a 50 day moving average price of $27.05 and a 200-day moving average price of $25.07. Pharmerica Corporation has a 52 week low of $19.20 and a 52 week high of $29.10. The stock has a market capitalization of $904.07 million, a P/E ratio of 39.36 and a beta of 0.92.

Pharmerica Corporation (NYSE:PMC) last posted its earnings results on Wednesday, August 2nd. The company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $592 million during the quarter, compared to analyst estimates of $592.96 million. Pharmerica Corporation had a net margin of 1.05% and a return on equity of 10.94%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 EPS. On average, equities research analysts expect that Pharmerica Corporation will post $1.92 earnings per share for the current year.

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Several large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in Pharmerica Corporation by 124.5% in the second quarter. Russell Investments Group Ltd. now owns 4,886 shares of the company’s stock valued at $128,000 after buying an additional 2,710 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Pharmerica Corporation by 10.5% in the second quarter. Public Employees Retirement System of Ohio now owns 5,028 shares of the company’s stock worth $132,000 after buying an additional 476 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Pharmerica Corporation during the first quarter worth about $121,000. State of Alaska Department of Revenue raised its stake in shares of Pharmerica Corporation by 79.8% in the second quarter. State of Alaska Department of Revenue now owns 6,112 shares of the company’s stock worth $160,000 after buying an additional 2,712 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Pharmerica Corporation by 41.3% in the first quarter. US Bancorp DE now owns 7,121 shares of the company’s stock worth $167,000 after buying an additional 2,081 shares during the last quarter. 94.25% of the stock is owned by institutional investors and hedge funds.

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