California Public Employees Retirement System boosted its position in shares of PharMerica Co. (NYSE:PMC) by 5.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,587 shares of the company’s stock after purchasing an additional 5,187 shares during the period. California Public Employees Retirement System owned approximately 0.31% of PharMerica worth $2,859,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of PharMerica by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,618,313 shares of the company’s stock valued at $68,731,000 after acquiring an additional 14,399 shares during the period. Vanguard Group Inc. raised its stake in shares of PharMerica by 5.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,649,704 shares of the company’s stock valued at $43,305,000 after acquiring an additional 85,838 shares during the period. Boston Partners raised its stake in shares of PharMerica by 4.4% in the 3rd quarter. Boston Partners now owns 1,436,519 shares of the company’s stock valued at $42,090,000 after acquiring an additional 60,232 shares during the period. State Street Corp raised its stake in shares of PharMerica by 1.6% in the 2nd quarter. State Street Corp now owns 808,831 shares of the company’s stock valued at $21,236,000 after acquiring an additional 12,607 shares during the period. Finally, Northern Trust Corp raised its stake in shares of PharMerica by 12.8% in the 2nd quarter. Northern Trust Corp now owns 440,400 shares of the company’s stock valued at $11,561,000 after acquiring an additional 50,039 shares during the period. 89.97% of the stock is currently owned by institutional investors.
In related news, CEO Gregory S. Weishar sold 521,089 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $29.25, for a total transaction of $15,241,853.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.04% of the stock is owned by corporate insiders.
A number of research firms have recently issued reports on PMC. Zacks Investment Research raised shares of PharMerica from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Wednesday, September 27th. ValuEngine raised shares of PharMerica from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $30.50.
Shares of PharMerica Co. (NYSE:PMC) opened at $29.25 on Tuesday. PharMerica Co. has a 52 week low of $22.00 and a 52 week high of $29.50. The firm has a market cap of $910.27, a P/E ratio of 47.95, a P/E/G ratio of 1.27 and a beta of 0.82. 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 announced its earnings results on Thursday, November 9th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.03). PharMerica had a return on equity of 2.30% and a net margin of 0.54%. The business had revenue of $595.10 million for the quarter, compared to analysts’ expectations of $596.80 million. analysts predict that PharMerica Co. will post 1.92 earnings per share for the current year.
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