PNC Financial Services Group Inc. boosted its position in shares of PharMerica Corp. (NYSE:PMC) by 5.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,474 shares of the company’s stock after buying an additional 398 shares during the period. PNC Financial Services Group Inc.’s holdings in PharMerica Corp. were worth $185,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PMC. TIAA CREF Investment Management LLC increased its position in shares of PharMerica Corp. by 32.5% in the first quarter. TIAA CREF Investment Management LLC now owns 156,998 shares of the company’s stock worth $3,471,000 after buying an additional 38,479 shares during the period. Prudential Financial Inc. increased its position in shares of PharMerica Corp. by 37.5% in the first quarter. Prudential Financial Inc. now owns 265,139 shares of the company’s stock worth $5,863,000 after buying an additional 72,260 shares during the period. BlackRock Group LTD increased its position in shares of PharMerica Corp. by 13.9% in the first quarter. BlackRock Group LTD now owns 40,754 shares of the company’s stock worth $901,000 after buying an additional 4,983 shares during the period. BlackRock Fund Advisors increased its position in shares of PharMerica Corp. by 2.2% in the first quarter. BlackRock Fund Advisors now owns 2,146,542 shares of the company’s stock worth $47,460,000 after buying an additional 46,633 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of PharMerica Corp. by 2.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 815,898 shares of the company’s stock worth $18,040,000 after buying an additional 17,086 shares during the period. 92.37% of the stock is owned by institutional investors.
Shares of PharMerica Corp. (NYSE:PMC) traded up 0.11% during mid-day trading on Thursday, reaching $27.84. 88,562 shares of the company’s stock traded hands. The firm has a 50-day moving average of $25.98 and a 200 day moving average of $25.03. The company has a market cap of $856.47 million, a P/E ratio of 28.76 and a beta of 0.88. PharMerica Corp. has a 12-month low of $19.79 and a 12-month high of $35.81.
PharMerica Corp. (NYSE:PMC) last posted its earnings results on Tuesday, August 9th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. PharMerica Corp. had a net margin of 1.44% and a return on equity of 10.00%. The firm earned $519.60 million during the quarter, compared to analyst estimates of $508.31 million. During the same quarter in the prior year, the business posted $0.48 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. Equities analysts forecast that PharMerica Corp. will post $2.01 EPS for the current year.
Separately, Zacks Investment Research downgraded shares of PharMerica Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $31.57.
PharMerica Corp. Company Profile
PharMerica Corporation is an institutional pharmacy services company. The Company services healthcare facilities, provides pharmacy management services to hospitals, provides specialty infusion services to patients outside a hospital setting and offers the national oncology pharmacy in the United States.
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