Pharmerica Corporation (NYSE:PMC) was downgraded by research analysts at KeyCorp to an “overweight” rating in a report released on Tuesday.

A number of other equities analysts have also commented on the stock. Credit Suisse Group lowered shares of Pharmerica Corporation from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $28.95 to $19.20 in a research report on Friday. They noted that the move was a valuation call. UBS AG restated a “neutral” rating and issued a $29.25 price target (up from $26.00) on shares of Pharmerica Corporation in a research report on Thursday, August 3rd. Barrington Research lowered shares of Pharmerica Corporation from an “outperform” rating to an “underperform” rating in a research report on Thursday, August 3rd. BidaskClub lowered shares of Pharmerica Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research lowered shares of Pharmerica Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Pharmerica Corporation has an average rating of “Hold” and a consensus target price of $25.48.

Shares of Pharmerica Corporation (PMC) remained flat at $28.95 during midday trading on Tuesday. 295,722 shares of the company traded hands. The firm has a 50-day moving average of $26.08 and a 200 day moving average of $24.81. The firm has a market capitalization of $910.19 million, a price-to-earnings ratio of 39.23 and a beta of 0.92. Pharmerica Corporation has a 12 month low of $19.20 and a 12 month high of $29.00.

Pharmerica Corporation (NYSE:PMC) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.47 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.47. The firm had revenue of $592 million for 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 company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 earnings per share. On average, equities research analysts predict that Pharmerica Corporation will post $1.91 EPS for the current year.

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Several institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of Pharmerica Corporation during the first quarter worth about $121,000. Russell Investments Group Ltd. raised its position in shares of Pharmerica Corporation by 124.5% in the second quarter. Russell Investments Group Ltd. now owns 4,886 shares of the company’s stock worth $128,000 after buying an additional 2,710 shares during the last quarter. State of Alaska Department of Revenue raised its position 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. US Bancorp DE raised its position 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. Finally, Mason Street Advisors LLC raised its position in shares of Pharmerica Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 7,200 shares of the company’s stock worth $168,000 after buying an additional 474 shares during the last quarter. Institutional investors own 92.84% of the company’s stock.

About Pharmerica Corporation

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