California State Teachers Retirement System Lowers Stake in PharMerica Co. (PMC)

California State Teachers Retirement System trimmed its position in shares of PharMerica Co. (NYSE:PMC) by 9.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,663 shares of the company’s stock after selling 5,075 shares during the quarter. California State Teachers Retirement System’s holdings in PharMerica were worth $1,397,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in shares of PharMerica by 124.5% during the second quarter. Russell Investments Group Ltd. now owns 4,886 shares of the company’s stock worth $128,000 after purchasing an additional 2,710 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of PharMerica by 10.5% during the second quarter. Public Employees Retirement System of Ohio now owns 5,028 shares of the company’s stock worth $132,000 after purchasing an additional 476 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of PharMerica during the second quarter worth approximately $200,000. Quantbot Technologies LP acquired a new position in shares of PharMerica during the third quarter worth approximately $204,000. Finally, Globeflex Capital L P acquired a new position in shares of PharMerica during the second quarter worth approximately $218,000. 89.97% of the stock is currently owned by institutional investors.

PMC has been the topic of a number of research reports. Zacks Investment Research raised PharMerica from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Wednesday, September 27th. ValuEngine raised PharMerica from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $30.50.

In related news, CEO Gregory S. Weishar sold 521,089 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $29.25, for a total value of $15,241,853.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.04% of the company’s stock.

Shares of PharMerica Co. (NYSE PMC) opened at $29.25 on Tuesday. The company has a market capitalization of $910.27, a price-to-earnings ratio of 47.95, a P/E/G ratio of 1.27 and a beta of 0.82. PharMerica Co. has a 12-month low of $22.00 and a 12-month high of $29.50. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.58 and a quick ratio of 1.79.

PharMerica (NYSE:PMC) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). The company had revenue of $595.10 million during the quarter, compared to analysts’ expectations of $596.80 million. PharMerica had a net margin of 0.54% and a return on equity of 2.30%. equities analysts anticipate that PharMerica Co. will post 1.92 earnings per share for the current fiscal year.

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PharMerica Company Profile

PharMerica Corporation is an institutional pharmacy services company. The Company services healthcare facilities, provides pharmacy management services to hospitals and specialty infusion services to patients outside a hospital setting, and offers the national oncology pharmacy in the United States. Its segments include institutional pharmacy, which provides pharmacy products and services to residents and patients in skilled nursing facilities, nursing centers, assisted living facilities, hospitals and other long-term alternative care settings; specialty infusion services, which provides specialty infusion services focused on providing pharmaceutical products and clinical services to patients in client facilities, hospice and outside of hospital or nursing home settings, and specialty oncology pharmacy, which provides dispensing of oncology drugs, care management and other related services to patients, oncology practices and hospitals.

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Institutional Ownership by Quarter for PharMerica (NYSE:PMC)

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