Pharmerica Corporation (NYSE:PMC) was downgraded by stock analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research report issued on Friday, MarketBeat Ratings reports. They presently have a $29.25 price objective on the stock, up from their previous price objective of $29.00. Credit Suisse Group’s target price would suggest a potential upside of 1.04% from the company’s current price. The analysts noted that the move was a valuation call.

A number of other equities analysts also recently weighed in on PMC. Zacks Investment Research raised shares of Pharmerica Corporation from a “sell” rating to a “hold” rating and set a $27.00 target price for the company in a research note on Tuesday, May 16th. ValuEngine downgraded shares of Pharmerica Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub downgraded shares of Pharmerica Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. KeyCorp downgraded shares of Pharmerica Corporation to an “overweight” rating in a research note on Wednesday, August 2nd. Finally, Barrington Research downgraded shares of Pharmerica Corporation from an “outperform” rating to an “underperform” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $25.48.

Shares of Pharmerica Corporation (PMC) opened at 28.95 on Friday. Pharmerica Corporation has a 12 month low of $19.20 and a 12 month high of $29.00. The company has a 50-day moving average price of $26.08 and a 200-day moving average price of $24.81. The company has a market capitalization of $910.19 million, a price-to-earnings ratio of 39.23 and a beta of 0.92.

Pharmerica Corporation (NYSE:PMC) last announced its earnings results on Wednesday, August 2nd. The company reported $0.47 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.47. Pharmerica Corporation had a net margin of 1.05% and a return on equity of 10.94%. The business had revenue of $592 million during the quarter, compared to the consensus estimate of $592.96 million. During the same quarter last year, the firm earned $0.47 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, equities analysts anticipate that Pharmerica Corporation will post $1.91 EPS for the current year.

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Several large investors have recently made changes to their positions in PMC. Russell Investments Group Ltd. purchased a new stake in shares of Pharmerica Corporation during the fourth quarter valued at $845,000. JPMorgan Chase & Co. increased its stake in shares of Pharmerica Corporation by 6.5% in the first quarter. JPMorgan Chase & Co. now owns 270,769 shares of the company’s stock valued at $6,336,000 after buying an additional 16,613 shares during the period. Comerica Bank increased its stake in shares of Pharmerica Corporation by 17.1% in the first quarter. Comerica Bank now owns 38,381 shares of the company’s stock valued at $912,000 after buying an additional 5,608 shares during the period. Norges Bank purchased a new stake in shares of Pharmerica Corporation during the fourth quarter valued at $3,864,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Pharmerica Corporation by 12.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,514 shares of the company’s stock valued at $269,000 after buying an additional 1,300 shares during the period. 92.84% of the stock is owned by institutional investors.

About Pharmerica Corporation

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