PharMerica Corporation (PMC) was Reiterated by Barrington Research to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 34 from a previous price target of $30 . Barrington Research advised their investors in a research report released on May 10, 2016.
Many Wall Street Analysts have commented on PharMerica Corporation. PharMerica Corporation was Initiated by Credit Suisse to “Outperform” on Mar 16, 2016. Shares were Downgraded by UBS on Mar 14, 2016 to ” Neutral” and Lowered the Price Target to $ 22 from a previous price target of $40 .Shares were Reiterated by Barrington Research on Feb 29, 2016 to “Outperform” and Lowered the Price Target to $ 30 from a previous price target of $39 .
On the company’s financial health, PharMerica Corporation reported $0.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 6, 2016. Analyst had a consensus of $0.43. The company had revenue of $524.50 million for the quarter, compared to analysts expectations of $509.45 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.
PharMerica Corporation opened for trading at $25.37 and hit $27.41 on the upside on Friday, eventually ending the session at $26.68, with a gain of 9.98% or 2.42 points. The heightened volatility saw the trading volume jump to 6,53,181 shares. Company has a market cap of $814 M.
In a different news, on Dec 3, 2015, Robert A Mckay (SVP Purchasing,Trade Relations) sold 2,993 shares at $34.42 per share price. According to the SEC, on Nov 12, 2015, Mark Lindemoen (SVP Sales and Client Services) sold 3,790 shares at $34.71 per share price. On Jun 8, 2015, Gregory S Weishar (Chief Executive Officer) sold 22,855 shares at $32.97 per share price, according to the Form-4 filing with the securities and exchange commission.
PharMerica Corporation is an institutional pharmacy services company. The Company has three operating segments: institutional pharmacy specialty infusion services and specialty oncology pharmacy. The Company’s core business institutional pharmacy segment provides pharmacy products and services to residents and patients in skilled nursing facilities nursing centers assisted living facilities hospitals and other long-term alternative care settings. The Company’s specialty infusion services segment provides specialty infusion services focused on providing pharmaceutical products and clinical services to patients in client facilities hospice and outside of hospital or nursing home settings. The Company’s specialty oncology pharmacy segment provides dispensing of oncology drugs care management and other related services to patients oncology practices and hospitals.