Pharmerica Corporation (NYSE:PMC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “PharMerica Corporation is an institutional pharmacy services provider dedicated to providing quality customer service and innovative pharmacy solutions to institutional customers and patients in long-term care settings. PharMerica is a public company formed through the combination of the institutional pharmacy business of national healthcare services company Kindred Healthcare, Inc. and pharmaceutical services company AmerisourceBergen Corporation. As a result of this combination, PharMerica ranks as an industry-leading U.S. provider of institutional pharmacy services in terms of annual revenues. “

Other equities analysts also recently issued reports about the company. ValuEngine downgraded Pharmerica Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. Credit Suisse Group cut shares of Pharmerica Corporation from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $29.00 to $29.25 in a research report on Friday, August 4th. They noted that the move was a valuation call. UBS AG reissued a “neutral” rating and set a $29.25 price target (up previously from $26.00) on shares of Pharmerica Corporation in a research report on Thursday, August 3rd. KeyCorp lowered shares of Pharmerica Corporation to an “overweight” rating in a research note on Tuesday, August 8th. Finally, BidaskClub lowered shares of Pharmerica Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Two investment 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’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $30.50.

Pharmerica Corporation (NYSE:PMC) opened at 29.25 on Wednesday. Pharmerica Corporation has a 52-week low of $19.20 and a 52-week high of $29.50. The stock has a market cap of $910.29 million, a P/E ratio of 39.63 and a beta of 0.84. The firm’s 50-day moving average is $29.12 and its 200-day moving average is $26.14.

Pharmerica Corporation (NYSE:PMC) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.47 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. Pharmerica Corporation had a return on equity of 10.94% and a net margin of 1.05%. The firm had revenue of $592.00 million for the quarter, compared to the consensus estimate of $592.96 million. During the same quarter in the previous year, the business earned $0.47 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. Equities research analysts predict that Pharmerica Corporation will post $1.94 earnings per share for the current year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in Pharmerica Corporation during the 1st quarter worth about $121,000. Russell Investments Group Ltd. raised its position in Pharmerica Corporation by 124.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,886 shares of the company’s stock valued at $128,000 after purchasing an additional 2,710 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Pharmerica Corporation by 10.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,028 shares of the company’s stock valued at $132,000 after purchasing an additional 476 shares in the last quarter. State of Alaska Department of Revenue raised its position in Pharmerica Corporation by 79.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,112 shares of the company’s stock valued at $160,000 after purchasing an additional 2,712 shares in the last quarter. Finally, US Bancorp DE raised its position in Pharmerica Corporation by 41.3% in the 1st quarter. US Bancorp DE now owns 7,121 shares of the company’s stock valued at $167,000 after purchasing an additional 2,081 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Pharmerica Corporation Company Profile

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