Diplomat Pharmacy (DPLO) Cut to “Hold” at Deutsche Bank

Diplomat Pharmacy (NYSE:DPLO) was downgraded by stock analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a research report issued on Friday, Marketbeat Ratings reports. They presently have a $29.00 price target on the stock, up from their previous price target of $22.00. Deutsche Bank’s price objective points to a potential upside of 15.13% from the stock’s previous close.

Several other analysts also recently issued reports on DPLO. BidaskClub upgraded Diplomat Pharmacy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 5th. Zacks Investment Research upgraded Diplomat Pharmacy from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective on the stock in a research report on Tuesday, October 10th. Mizuho set a $16.00 price objective on Diplomat Pharmacy and gave the company a “hold” rating in a research report on Tuesday, October 24th. Leerink Swann upped their price objective on Diplomat Pharmacy from $16.00 to $20.00 and gave the company a “market perform” rating in a research report on Tuesday, November 7th. Finally, Needham & Company LLC upped their price objective on Diplomat Pharmacy from $23.75 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Seven analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $22.85.

Shares of Diplomat Pharmacy (DPLO) traded down $2.12 during trading hours on Friday, hitting $25.19. The stock had a trading volume of 2,759,943 shares, compared to its average volume of 942,878. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.34 and a quick ratio of 0.82. Diplomat Pharmacy has a twelve month low of $13.39 and a twelve month high of $27.78. The stock has a market capitalization of $1,880.93, a P/E ratio of 251.90, a P/E/G ratio of 4.14 and a beta of 1.06.

Diplomat Pharmacy (NYSE:DPLO) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.10. Diplomat Pharmacy had a return on equity of 8.30% and a net margin of 0.18%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business earned $0.21 earnings per share. The business’s revenue was down 4.8% on a year-over-year basis. sell-side analysts forecast that Diplomat Pharmacy will post 0.85 EPS for the current year.

In other Diplomat Pharmacy news, Director Jeffrey G. Park bought 3,000 shares of Diplomat Pharmacy stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $15.46 per share, for a total transaction of $46,380.00. Following the completion of the transaction, the director now owns 7,640 shares of the company’s stock, valued at approximately $118,114.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Atul Kavthekar bought 2,000 shares of Diplomat Pharmacy stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average price of $15.00 per share, for a total transaction of $30,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,000 shares of the company’s stock, valued at approximately $30,000. The disclosure for this purchase can be found here. Insiders have purchased 15,000 shares of company stock worth $228,780 over the last quarter. 30.20% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Wrapmanager Inc. increased its stake in Diplomat Pharmacy by 14.4% during the fourth quarter. Wrapmanager Inc. now owns 16,212 shares of the company’s stock worth $325,000 after acquiring an additional 2,044 shares during the last quarter. Granite Investment Partners LLC increased its stake in Diplomat Pharmacy by 23.3% during the fourth quarter. Granite Investment Partners LLC now owns 85,650 shares of the company’s stock worth $1,719,000 after acquiring an additional 16,209 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in Diplomat Pharmacy during the fourth quarter worth about $1,215,000. Jennison Associates LLC acquired a new stake in Diplomat Pharmacy during the fourth quarter worth about $308,000. Finally, Strs Ohio acquired a new stake in Diplomat Pharmacy during the fourth quarter worth about $800,000. Institutional investors own 72.00% of the company’s stock.

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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.

Analyst Recommendations for Diplomat Pharmacy (NYSE:DPLO)

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