JPMorgan Chase & Co. cut its position in shares of Pharmerica Corporation (NYSE:PMC) by 11.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 239,290 shares of the company’s stock after selling 31,479 shares during the quarter. JPMorgan Chase & Co. owned about 0.77% of Pharmerica Corporation worth $6,281,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PMC. Capstone Asset Management Co. grew its stake in Pharmerica Corporation by 0.9% in the second quarter. Capstone Asset Management Co. now owns 16,041 shares of the company’s stock worth $421,000 after purchasing an additional 150 shares during the period. Arizona State Retirement System raised its holdings in Pharmerica Corporation by 1.3% in the first quarter. Arizona State Retirement System now owns 16,016 shares of the company’s stock worth $375,000 after purchasing an additional 200 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Pharmerica Corporation by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the company’s stock worth $333,000 after purchasing an additional 200 shares in the last quarter. Tudor Investment Corp ET AL raised its holdings in Pharmerica Corporation by 4.7% in the first quarter. Tudor Investment Corp ET AL now owns 8,602 shares of the company’s stock worth $201,000 after purchasing an additional 389 shares in the last quarter. Finally, Texas Permanent School Fund lifted its position in Pharmerica Corporation by 1.8% during the second quarter. Texas Permanent School Fund now owns 22,703 shares of the company’s stock valued at $596,000 after buying an additional 411 shares during the period. Institutional investors own 92.15% of the company’s stock.

Shares of Pharmerica Corporation (NYSE PMC) opened at 29.25 on Wednesday. Pharmerica Corporation has a 12 month low of $19.20 and a 12 month high of $29.50. The stock has a 50 day moving average price of $29.12 and a 200-day moving average price of $26.14. The company has a market capitalization of $910.29 million, a PE ratio of 39.63 and a beta of 0.84.

Pharmerica Corporation (NYSE:PMC) last posted its earnings results on Wednesday, August 2nd. The company reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $592.00 million for the quarter, compared to the consensus estimate of $592.96 million. Pharmerica Corporation had a net margin of 1.05% and a return on equity of 10.94%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS. Analysts forecast that Pharmerica Corporation will post $1.94 EPS for the current year.

Several equities analysts have commented on PMC shares. Zacks Investment Research lowered Pharmerica Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. BidaskClub downgraded shares of Pharmerica Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. KeyCorp downgraded shares of Pharmerica Corporation to an “overweight” rating in a research report on Wednesday, August 2nd. Barrington Research lowered shares of Pharmerica Corporation from an “outperform” rating to an “underperform” rating in a research note on Thursday, August 3rd. Finally, UBS AG reiterated a “neutral” rating and issued a $29.25 price target (up from $26.00) on shares of Pharmerica Corporation in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $30.50.

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About Pharmerica Corporation

Institutional Ownership by Quarter for Pharmerica Corporation (NYSE:PMC)

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