California State Teachers Retirement System Cuts Holdings in Pharmerica Corporation (PMC)

California State Teachers Retirement System decreased its position in Pharmerica Corporation (NYSE:PMC) by 9.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 52,738 shares of the company’s stock after selling 5,398 shares during the period. California State Teachers Retirement System owned about 0.17% of Pharmerica Corporation worth $1,384,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chicago Equity Partners LLC bought a new stake in Pharmerica Corporation in the 2nd quarter valued at approximately $2,061,000. California Public Employees Retirement System increased its position in shares of Pharmerica Corporation by 13.8% during the 2nd quarter. California Public Employees Retirement System now owns 92,400 shares of the company’s stock worth $2,426,000 after purchasing an additional 11,200 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Pharmerica Corporation by 40.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,294,142 shares of the company’s stock worth $33,971,000 after purchasing an additional 370,266 shares during the last quarter. Northern Trust Corp increased its position in shares of Pharmerica Corporation by 12.8% during the 2nd quarter. Northern Trust Corp now owns 440,400 shares of the company’s stock worth $11,561,000 after purchasing an additional 50,039 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Pharmerica Corporation by 4.5% during the 1st quarter. Geode Capital Management LLC now owns 429,851 shares of the company’s stock worth $10,058,000 after purchasing an additional 18,452 shares during the last quarter. Hedge funds and other institutional investors own 88.36% of the company’s stock.

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Several research analysts have weighed in on PMC shares. Zacks Investment Research lowered Pharmerica Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. UBS AG reaffirmed 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 Pharmerica Corporation to an “overweight” rating in a research report on Tuesday, August 8th. ValuEngine raised Pharmerica Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Finally, Credit Suisse Group lowered Pharmerica Corporation from an “outperform” rating to a “neutral” rating and boosted 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $30.50.

Pharmerica Corporation (PMC) opened at $29.15 on Tuesday. The firm has a market capitalization of $907.15, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 1.27 and a beta of 0.82. Pharmerica Corporation has a 1 year low of $22.00 and a 1 year high of $29.50. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.79 and a current ratio of 2.58.

Pharmerica Corporation (NYSE:PMC) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.03). The company had revenue of $595.10 million for the quarter, compared to analyst estimates of $596.80 million. Pharmerica Corporation had a return on equity of 10.94% and a net margin of 0.83%. sell-side analysts forecast that Pharmerica Corporation will post 1.92 earnings per share for the current fiscal year.

About Pharmerica Corporation

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Institutional Ownership by Quarter for Pharmerica Corporation (NYSE:PMC)

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