Diplomat Pharmacy (NYSE:DPLO) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Diplomat Pharmacy (NYSE:DPLO) from a strong sell rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. They currently have $6.50 price target on the stock.

According to Zacks, “Diplomat Pharmacy, Inc. operates as an independent specialty pharmacy in the United States. It aids in the dispensing, delivery, dosing and reimbursement of clinically intensive and specialty drugs. The company focuses on medication management programs for people with complex chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, HIV, specialized infusion therapy and many other serious or long-term conditions. Diplomat Pharmacy, Inc. is headquartered in Flint, Michigan. “

Several other research analysts have also recently weighed in on DPLO. Morgan Stanley set a $39.00 price target on shares of Re/Max and gave the company a buy rating in a research report on Monday, March 18th. Mizuho boosted their price target on shares of Diplomat Pharmacy from $6.00 to $8.00 and gave the company a reduce rating in a research report on Monday, March 18th. Guggenheim began coverage on shares of Patterson Companies in a research report on Wednesday, April 17th. They set a neutral rating and a $23.00 price target on the stock. Wells Fargo & Co set a $162.00 price target on shares of Jazz Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Yum China from $36.50 to $48.00 and gave the company an overweight rating in a research report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $9.96.

Shares of DPLO opened at $5.91 on Wednesday. Diplomat Pharmacy has a 52-week low of $4.17 and a 52-week high of $26.85. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 1.00. The business’s fifty day simple moving average is $5.18. The firm has a market cap of $453.51 million, a PE ratio of 29.55 and a beta of 1.07.

Diplomat Pharmacy (NYSE:DPLO) last announced its earnings results on Tuesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.26). Diplomat Pharmacy had a positive return on equity of 1.38% and a negative net margin of 5.85%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm earned ($0.01) EPS. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, sell-side analysts predict that Diplomat Pharmacy will post -0.53 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Diplomat Pharmacy by 2.2% in the 4th quarter. BlackRock Inc. now owns 8,650,451 shares of the company’s stock valued at $116,435,000 after buying an additional 186,200 shares during the period. Dimensional Fund Advisors LP raised its holdings in Diplomat Pharmacy by 22.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,128,358 shares of the company’s stock valued at $28,650,000 after buying an additional 395,246 shares during the period. Bank of New York Mellon Corp raised its holdings in Diplomat Pharmacy by 97.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,682,590 shares of the company’s stock valued at $22,648,000 after buying an additional 830,436 shares during the period. FMR LLC raised its holdings in Diplomat Pharmacy by 61.8% in the 4th quarter. FMR LLC now owns 1,189,312 shares of the company’s stock valued at $16,008,000 after buying an additional 454,112 shares during the period. Finally, Millennium Management LLC raised its holdings in Diplomat Pharmacy by 7.1% in the 4th quarter. Millennium Management LLC now owns 673,940 shares of the company’s stock valued at $9,071,000 after buying an additional 44,896 shares during the period. 79.45% of the stock is currently owned by hedge funds and other institutional investors.

About Diplomat Pharmacy

Diplomat Pharmacy, Inc operates as an independent specialty pharmacy in the United States. The company operates through Specialty and PBM (pharmacy benefit management) segment. It provides specialty infusion pharmacy, patient care coordination, clinical, compliance and persistency program, patient financial assistance, specialty pharmacy training, benefits investigation, prior authorization, risk evaluation and medication strategy, retail specialty, and hub services, as well as clinical and administrative support services to hospitals and health systems.

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Analyst Recommendations for Diplomat Pharmacy (NYSE:DPLO)

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