Pharmerica Corporation (PMC) Stake Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in shares of Pharmerica Corporation (NYSE:PMC) by 11.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,307 shares of the company’s stock after selling 693 shares during the period. PNC Financial Services Group Inc.’s holdings in Pharmerica Corporation were worth $125,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in PMC. SG Americas Securities LLC purchased a new stake in shares of Pharmerica Corporation during the first quarter worth about $121,000. US Bancorp DE boosted its stake in shares of Pharmerica Corporation by 41.3% in the first quarter. US Bancorp DE now owns 7,121 shares of the company’s stock worth $167,000 after buying an additional 2,081 shares in the last quarter. Mason Street Advisors LLC boosted its stake in shares of Pharmerica Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 7,200 shares of the company’s stock worth $168,000 after buying an additional 474 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of Pharmerica Corporation during the first quarter worth about $218,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Pharmerica Corporation by 12.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,514 shares of the company’s stock worth $269,000 after buying an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 92.75% of the company’s stock.

Shares of Pharmerica Corporation (PMC) opened at 28.95 on Friday. The firm has a 50-day moving average price of $25.81 and a 200 day moving average price of $24.72. The stock has a market cap of $910.19 million, a price-to-earnings ratio of 39.23 and a beta of 0.92. Pharmerica Corporation has a 52 week low of $19.20 and a 52 week high of $28.95.

Pharmerica Corporation (NYSE:PMC) last released its earnings results on Wednesday, August 2nd. The company reported $0.47 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.47. The firm had revenue of $592 million during the quarter, compared to analyst estimates of $592.96 million. Pharmerica Corporation had a return on equity of 10.94% and a net margin of 1.05%. Pharmerica Corporation’s revenue was up 13.9% compared to the same quarter last year. During the same period last year, the business posted $0.47 earnings per share. On average, analysts forecast that Pharmerica Corporation will post $1.91 EPS for the current fiscal year.

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Several equities research analysts have recently weighed in on PMC shares. Zacks Investment Research upgraded Pharmerica Corporation from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Saturday, June 24th. ValuEngine cut Pharmerica Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Credit Suisse Group cut Pharmerica Corporation from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $28.95 to $19.20 in a research report on Friday. They noted that the move was a valuation call. UBS AG reiterated a “neutral” rating and set a $29.25 price target (up from $26.00) on shares of Pharmerica Corporation in a research report on Thursday. Finally, KeyCorp cut shares of Pharmerica Corporation to an “overweight” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $25.48.

Pharmerica Corporation Company Profile