PharMerica (PMC) Sees Unusually-High Trading Volume

Shares of PharMerica Co. (NYSE:PMC) saw strong trading volume on Friday . 1,371,600 shares changed hands during trading, an increase of 385% from the previous session’s volume of 283,015 shares.The stock last traded at $29.25 and had previously closed at $29.20.

A number of analysts recently commented on the company. Zacks Investment Research upgraded PharMerica from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Wednesday, September 27th. ValuEngine lowered PharMerica from a “buy” rating to a “hold” rating in a report on Friday, September 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. PharMerica presently has an average rating of “Hold” and an average target price of $30.50.

The company has a market cap of $910.27, a P/E ratio of 15.15, a PEG ratio of 1.27 and a beta of 0.83. The company has a current ratio of 2.58, a quick ratio of 1.79 and a debt-to-equity ratio of 0.79.

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

Several institutional investors and hedge funds have recently modified their holdings of PMC. Russell Investments Group Ltd. raised its stake in shares of PharMerica by 124.5% in the second quarter. Russell Investments Group Ltd. now owns 4,886 shares of the company’s stock valued at $128,000 after buying an additional 2,710 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of PharMerica by 10.5% in the second quarter. Public Employees Retirement System of Ohio now owns 5,028 shares of the company’s stock valued at $132,000 after buying an additional 476 shares during the period. SG Americas Securities LLC raised its stake in shares of PharMerica by 39.7% in the second quarter. SG Americas Securities LLC now owns 7,206 shares of the company’s stock valued at $189,000 after buying an additional 2,047 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of PharMerica in the second quarter valued at $200,000. Finally, Quantbot Technologies LP bought a new stake in shares of PharMerica in the third quarter valued at $204,000. Hedge funds and other institutional investors own 89.97% of the company’s stock.

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