PharMerica Corporation (PMC) is Resumed by BofA/Merrill to Buy

PharMerica Corporation (PMC) was Resumed by BofA/Merrill to “Buy”. BofA/Merrill advised their investors in a research report released on Jun 7, 2016.

Many Wall Street Analysts have commented on PharMerica Corporation. Company shares were Reiterated by Barrington Research on May 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 34 from a previous price target of $30 .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 .

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 closed down -0.18 points or -0.68% at $26.28 with 1,65,446 shares getting traded on Friday. Post opening the session at $26.5, the shares hit an intraday low of $26.01 and an intraday high of $26.5 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

PharMerica Corporation

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