Pharmerica Corporation (PMC) Lowered to “Overweight” at KeyCorp

Pharmerica Corporation (NYSE:PMC) was downgraded by equities research analysts at KeyCorp to an “overweight” rating in a note issued to investors on Tuesday.

Several other equities analysts have also commented on PMC. BidaskClub lowered shares of Pharmerica Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. UBS AG reissued a “neutral” rating and issued a $29.25 price objective (up from $26.00) on shares of Pharmerica Corporation in a report on Thursday, August 3rd. Barrington Research downgraded Pharmerica Corporation from an “outperform” rating to an “underperform” rating in a report on Thursday, August 3rd. Credit Suisse Group downgraded Pharmerica Corporation from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $29.00 to $29.25 in a report on Friday, August 4th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Pharmerica Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Pharmerica Corporation has a consensus rating of “Hold” and an average price target of $28.83.

Shares of Pharmerica Corporation (NYSE:PMC) opened at 28.925 on Tuesday. Pharmerica Corporation has a 1-year low of $19.20 and a 1-year high of $29.10. The firm has a market capitalization of $900.17 million, a PE ratio of 39.194 and a beta of 0.92. The company has a 50-day moving average of $26.41 and a 200-day moving average of $24.88.

Pharmerica Corporation (NYSE:PMC) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.47 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.47. The company had revenue of $592 million for the quarter, compared to analyst estimates of $592.96 million. Pharmerica Corporation had a net margin of 1.05% and a return on equity of 10.94%. The firm’s revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 earnings per share. Equities research analysts predict that Pharmerica Corporation will post $1.92 EPS for the current fiscal year.

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Several large investors have recently bought and sold shares of PMC. BlackRock Inc. increased its stake in Pharmerica Corporation by 51,604.4% in the first quarter. BlackRock Inc. now owns 3,975,551 shares of the company’s stock valued at $93,027,000 after buying an additional 3,967,862 shares during the last quarter. Sessa Capital IM L.P. purchased a new stake in Pharmerica Corporation during the first quarter valued at $11,968,000. Royce & Associates LP increased its stake in Pharmerica Corporation by 966.5% in the second quarter. Royce & Associates LP now owns 426,600 shares of the company’s stock valued at $11,198,000 after buying an additional 386,600 shares during the last quarter. Victory Capital Management Inc. increased its stake in Pharmerica Corporation by 40.1% in the second quarter. Victory Capital Management Inc. now owns 1,294,142 shares of the company’s stock valued at $33,971,000 after buying an additional 370,266 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in Pharmerica Corporation by 61.3% in the first quarter. Nuveen Asset Management LLC now owns 863,975 shares of the company’s stock valued at $20,217,000 after buying an additional 328,257 shares during the last quarter. 92.84% of the stock is owned by institutional investors and hedge funds.

About Pharmerica Corporation

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