Diplomat Pharmacy’s (DPLO) Hold Rating Reaffirmed at Credit Suisse Group AG
Credit Suisse Group AG reiterated their hold rating on shares of Diplomat Pharmacy Inc. (NYSE:DPLO) in a research note released on Friday. The brokerage currently has a $30.00 target price on the stock.
DPLO has been the topic of several other reports. Bank of America Corp. initiated coverage on Diplomat Pharmacy in a report on Wednesday, June 8th. They set a hold rating on the stock. Zacks Investment Research upgraded Diplomat Pharmacy from a hold rating to a buy rating and set a $38.00 target price for the company in a research report on Tuesday, June 28th. TheStreet upgraded Diplomat Pharmacy from a sell rating to a hold rating in a research report on Monday, May 23rd. Leerink Swann lifted their target price on Diplomat Pharmacy from $36.00 to $38.00 and gave the stock an outperform rating in a research report on Wednesday, August 10th. Finally, William Blair reiterated an outperform rating on shares of Diplomat Pharmacy in a research report on Thursday, May 19th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $36.91.
Shares of Diplomat Pharmacy (NYSE:DPLO) traded up 0.13% during trading on Friday, reaching $31.07. The company had a trading volume of 104,412 shares. The company has a market capitalization of $2.05 billion, a P/E ratio of 47.80 and a beta of 1.04. Diplomat Pharmacy has a 52-week low of $22.41 and a 52-week high of $42.59. The firm has a 50-day moving average price of $33.94 and a 200-day moving average price of $31.89.
Diplomat Pharmacy (NYSE:DPLO) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. Diplomat Pharmacy had a return on equity of 11.57% and a net margin of 1.08%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned $0.16 EPS. Diplomat Pharmacy’s revenue for the quarter was up 34.8% compared to the same quarter last year. On average, analysts predict that Diplomat Pharmacy will post $0.94 EPS for the current fiscal year.
In other Diplomat Pharmacy news, EVP Atheer A. Kaddis sold 12,325 shares of Diplomat Pharmacy stock in a transaction on Friday, July 1st. The stock was sold at an average price of $35.04, for a total transaction of $431,868.00. Following the sale, the executive vice president now owns 12,325 shares of the company’s stock, valued at approximately $431,868. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Atheer A. Kaddis sold 20,000 shares of Diplomat Pharmacy stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $30.12, for a total value of $602,400.00. Following the sale, the executive vice president now directly owns 20,000 shares in the company, valued at approximately $602,400. The disclosure for this sale can be found here. Company insiders own 35.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its stake in shares of Diplomat Pharmacy by 124.6% in the first quarter. BlackRock Fund Advisors now owns 2,387,152 shares of the company’s stock valued at $65,408,000 after buying an additional 1,324,293 shares during the last quarter. Hermes Investment Management Ltd. increased its stake in shares of Diplomat Pharmacy by 15.2% in the second quarter. Hermes Investment Management Ltd. now owns 884,459 shares of the company’s stock valued at $30,956,000 after buying an additional 116,920 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of Diplomat Pharmacy during the first quarter valued at $2,191,000. Springbok Capital Management LLC increased its stake in shares of Diplomat Pharmacy by 14.8% in the first quarter. Springbok Capital Management LLC now owns 6,664 shares of the company’s stock valued at $183,000 after buying an additional 857 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of Diplomat Pharmacy by 135.8% in the second quarter. New York State Teachers Retirement System now owns 34,202 shares of the company’s stock valued at $1,197,000 after buying an additional 19,700 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.
About Diplomat Pharmacy
Diplomat Pharmacy, Inc operates a specialty pharmacy business, which stocks, dispenses and distributes prescriptions for various biotechnology and specialty pharmaceutical manufacturers. The Company’s primary focus is on medication management programs for individuals with chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, specialized infusion therapy, and various other serious and/or long-term conditions.
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