Prudential Financial Inc. reduced its position in shares of PharMerica Corp. (NYSE:PMC) by 10.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 236,172 shares of the company’s stock after selling 28,967 shares during the period. Prudential Financial Inc. owned approximately 0.77% of PharMerica Corp. worth $5,824,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Teacher Retirement System of Texas raised its stake in PharMerica Corp. by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 4,243 shares of the company’s stock worth $105,000 after buying an additional 523 shares during the period. Springbok Capital Management LLC raised its stake in PharMerica Corp. by 22.8% in the first quarter. Springbok Capital Management LLC now owns 7,000 shares of the company’s stock worth $155,000 after buying an additional 1,300 shares during the period. PNC Financial Services Group Inc. raised its stake in PharMerica Corp. by 5.6% in the second quarter. PNC Financial Services Group Inc. now owns 7,474 shares of the company’s stock worth $185,000 after buying an additional 398 shares during the period. Murphy Michael R bought a new stake in PharMerica Corp. during the first quarter worth about $221,000. Finally, Investment Counselors of Maryland LLC bought a new stake in PharMerica Corp. during the second quarter worth about $254,000. Institutional investors and hedge funds own 92.37% of the company’s stock.
Shares of PharMerica Corp. (NYSE:PMC) opened at 27.24 on Wednesday. The firm has a market capitalization of $838.01 million, a PE ratio of 28.14 and a beta of 0.88. The stock has a 50 day moving average price of $26.66 and a 200 day moving average price of $25.24. PharMerica Corp. has a 52 week low of $19.79 and a 52 week high of $35.81.
PharMerica Corp. (NYSE:PMC) last issued its earnings results on Tuesday, August 9th. The company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $519.60 million for the quarter, compared to analyst estimates of $508.31 million. PharMerica Corp. had a net margin of 1.44% and a return on equity of 10.00%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 EPS. Equities analysts forecast that PharMerica Corp. will post $2.01 earnings per share for the current fiscal year.
Separately, Zacks Investment Research upgraded PharMerica Corp. from a “sell” rating to a “hold” rating in a research report on Friday, September 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price 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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