Cornercap Investment Counsel Inc. increased its position in PharMerica Corp. (NYSE:PMC) by 31.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,670 shares of the company’s stock after buying an additional 13,145 shares during the period. Cornercap Investment Counsel Inc. owned about 0.18% of PharMerica Corp. worth $1,375,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Phocas Financial Corp. raised its position in PharMerica Corp. by 6.5% in the third quarter. Phocas Financial Corp. now owns 297,490 shares of the company’s stock worth $8,351,000 after buying an additional 18,142 shares during the last quarter. Candriam Luxembourg S.C.A. acquired a new position in PharMerica Corp. during the third quarter worth $1,853,000. The Manufacturers Life Insurance Company acquired a new position in PharMerica Corp. during the third quarter worth $563,000. UBS Group AG raised its position in PharMerica Corp. by 14.4% in the third quarter. UBS Group AG now owns 98,438 shares of the company’s stock worth $2,763,000 after buying an additional 12,376 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in PharMerica Corp. during the third quarter worth $488,000. 96.26% of the stock is owned by institutional investors and hedge funds.
PharMerica Corp. (NYSE:PMC) traded down 1.96% during trading on Thursday, reaching $25.05. 112,659 shares of the company’s stock traded hands. PharMerica Corp. has a 1-year low of $19.20 and a 1-year high of $31.59. The firm has a 50 day moving average of $25.43 and a 200 day moving average of $25.49. The firm has a market capitalization of $771.06 million, a PE ratio of 22.84 and a beta of 0.97.
PharMerica Corp. (NYSE:PMC) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.07. The company earned $512.60 million during the quarter, compared to analysts’ expectations of $530.01 million. PharMerica Corp. had a net margin of 1.64% and a return on equity of 10.40%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 EPS. Equities analysts forecast that PharMerica Corp. will post $1.87 EPS for the current year.
Separately, Zacks Investment Research upgraded shares of PharMerica Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. PharMerica Corp. has an average rating of “Hold” and an average target price of $30.00.
About PharMerica Corp.
PharMerica Corporation is an institutional pharmacy services company. The Company services healthcare facilities, provides pharmacy management services to hospitals, provides specialty infusion services to patients outside a hospital setting and offers the national oncology pharmacy in the United States.
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