Bayesian Capital Management LP Grows Stake in Diplomat Pharmacy, Inc. (DPLO)
Bayesian Capital Management LP lifted its stake in shares of Diplomat Pharmacy, Inc. (NYSE:DPLO) by 35.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,400 shares of the company’s stock after purchasing an additional 4,300 shares during the period. Bayesian Capital Management LP’s holdings in Diplomat Pharmacy were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in DPLO. Bank of Montreal Can boosted its stake in shares of Diplomat Pharmacy by 516.6% in the first quarter. Bank of Montreal Can now owns 11,260 shares of the company’s stock worth $180,000 after acquiring an additional 9,434 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Diplomat Pharmacy by 5.7% during the first quarter. Great West Life Assurance Co. Can now owns 60,009 shares of the company’s stock worth $956,000 after purchasing an additional 3,253 shares in the last quarter. First Trust Advisors LP raised its stake in Diplomat Pharmacy by 20.3% in the 1st quarter. First Trust Advisors LP now owns 55,549 shares of the company’s stock valued at $886,000 after purchasing an additional 9,362 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Diplomat Pharmacy by 4.2% in the 1st quarter. Bank of New York Mellon Corp now owns 572,791 shares of the company’s stock valued at $9,137,000 after purchasing an additional 23,074 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in Diplomat Pharmacy by 13.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,876 shares of the company’s stock valued at $142,000 after purchasing an additional 1,073 shares during the last quarter. 69.89% of the stock is owned by institutional investors and hedge funds.
Shares of Diplomat Pharmacy, Inc. (NYSE DPLO) opened at 21.25 on Wednesday. Diplomat Pharmacy, Inc. has a one year low of $12.25 and a one year high of $29.36. The firm has a 50-day moving average price of $18.47 and a 200 day moving average price of $16.75. The stock has a market capitalization of $1.44 billion, a PE ratio of 116.12 and a beta of 0.74.
Diplomat Pharmacy (NYSE:DPLO) last issued its quarterly earnings data on Monday, August 7th. The company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.10. Diplomat Pharmacy had a net margin of 0.27% and a return on equity of 7.97%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the company posted $0.23 EPS. The company’s revenue was up 3.5% on a year-over-year basis. On average, equities analysts expect that Diplomat Pharmacy, Inc. will post $0.75 EPS for the current fiscal year.
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A number of brokerages have weighed in on DPLO. TheStreet upgraded Diplomat Pharmacy from a “d+” rating to a “c-” rating in a report on Thursday, August 10th. Zacks Investment Research raised shares of Diplomat Pharmacy from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. BidaskClub lowered shares of Diplomat Pharmacy from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Needham & Company LLC started coverage on shares of Diplomat Pharmacy in a report on Friday, July 21st. They set a “buy” rating and a $19.75 target price for the company. Finally, Robert W. Baird upgraded shares of Diplomat Pharmacy to a “positive” rating and increased their target price for the company from $20.00 to $24.00 in a research report on Monday, September 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.66.
About Diplomat Pharmacy
Diplomat Pharmacy, Inc (Diplomat) operates a specialty pharmacy business, which stocks, dispenses and distributes prescriptions for various biotechnology and specialty pharmaceutical manufacturers. The Company operates through specialty pharmacy services segment. The Company’s primary focus is on medication management programs for individuals with chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, specialty infusion therapy, and various other serious and/or long-term conditions.
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