Diplomat Pharmacy, Inc. (DPLO) Rating Reiterated by Needham & Company LLC
Diplomat Pharmacy, Inc. (NYSE:DPLO)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a note issued to investors on Wednesday. They presently have a $23.75 price objective on the stock, up from their prior price objective of $19.75. Needham & Company LLC’s target price would indicate a potential upside of 11.76% from the company’s current price.
DPLO has been the topic of several other research reports. Robert W. Baird restated a “buy” rating and set a $20.00 price objective on shares of Diplomat Pharmacy in a report on Sunday, September 17th. BidaskClub cut shares of Diplomat Pharmacy from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research cut shares of Diplomat Pharmacy from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Finally, TheStreet raised shares of Diplomat Pharmacy from a “d+” rating to a “c-” rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $19.16.
Shares of Diplomat Pharmacy (NYSE:DPLO) remained flat at $21.25 during mid-day trading on Wednesday. 779,770 shares of the stock were exchanged. Diplomat Pharmacy has a 12 month low of $12.25 and a 12 month high of $29.36. The company’s 50 day moving average price is $18.47 and its 200 day moving average price is $16.75. The company has a market cap of $1.44 billion, a PE ratio of 116.12 and a beta of 0.74.
Diplomat Pharmacy (NYSE:DPLO) last posted its earnings results on Monday, August 7th. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.10. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Diplomat Pharmacy had a net margin of 0.27% and a return on equity of 7.97%. Diplomat Pharmacy’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 earnings per share. On average, equities research analysts predict that Diplomat Pharmacy will post $0.75 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. State of Wisconsin Investment Board raised its holdings in shares of Diplomat Pharmacy by 9.9% during the second quarter. State of Wisconsin Investment Board now owns 278,000 shares of the company’s stock worth $4,114,000 after purchasing an additional 25,000 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Diplomat Pharmacy by 32.5% during the first quarter. Envestnet Asset Management Inc. now owns 11,485 shares of the company’s stock valued at $183,000 after purchasing an additional 2,820 shares during the period. Arizona State Retirement System lifted its position in Diplomat Pharmacy by 2.3% during the first quarter. Arizona State Retirement System now owns 22,600 shares of the company’s stock valued at $360,000 after purchasing an additional 500 shares during the period. Sivik Global Healthcare LLC lifted its position in Diplomat Pharmacy by 18.8% during the second quarter. Sivik Global Healthcare LLC now owns 120,000 shares of the company’s stock valued at $1,776,000 after purchasing an additional 19,000 shares during the period. Finally, Marshall Wace North America L.P. acquired a new position in Diplomat Pharmacy during the second quarter valued at $935,000. Hedge funds and other institutional investors own 69.89% of the company’s stock.
About Diplomat Pharmacy
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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