Rhumbline Advisers Grows Stake in PharMerica Co. (PMC)
Rhumbline Advisers grew its holdings in PharMerica Co. (NYSE:PMC) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,929 shares of the company’s stock after purchasing an additional 1,830 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of PharMerica worth $2,049,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of PharMerica by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,618,313 shares of the company’s stock valued at $68,731,000 after buying an additional 14,399 shares during the period. Vanguard Group Inc. lifted its stake in shares of PharMerica by 5.5% during the second quarter. Vanguard Group Inc. now owns 1,649,704 shares of the company’s stock valued at $43,305,000 after buying an additional 85,838 shares during the period. Boston Partners lifted its stake in shares of PharMerica by 4.4% during the third quarter. Boston Partners now owns 1,436,519 shares of the company’s stock valued at $42,090,000 after buying an additional 60,232 shares during the period. Victory Capital Management Inc. lifted its stake in shares of PharMerica by 40.1% during the second quarter. Victory Capital Management Inc. now owns 1,294,142 shares of the company’s stock valued at $33,971,000 after buying an additional 370,266 shares during the period. Finally, State Street Corp lifted its stake in shares of PharMerica by 1.6% during the second quarter. State Street Corp now owns 808,831 shares of the company’s stock valued at $21,236,000 after buying an additional 12,607 shares during the period. Institutional investors and hedge funds own 89.97% of the company’s stock.
Shares of PharMerica Co. (PMC) traded up $0.05 on Tuesday, hitting $29.25. 1,371,600 shares of the company traded hands, compared to its average volume of 283,015. The company has a quick ratio of 1.79, a current ratio of 2.58 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $910.27, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 1.27 and a beta of 0.82. PharMerica Co. has a fifty-two week low of $22.00 and a fifty-two week high of $29.50.
PharMerica (NYSE:PMC) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.03). The company had revenue of $595.10 million for the quarter, compared to analysts’ expectations of $596.80 million. PharMerica had a return on equity of 10.94% and a net margin of 0.83%. equities research analysts expect that PharMerica Co. will post 1.92 earnings per share for the current fiscal year.
Several brokerages recently issued reports on PMC. Zacks Investment Research downgraded shares of PharMerica from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. ValuEngine downgraded shares of PharMerica from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $30.50.
In other PharMerica news, CEO Gregory S. Weishar sold 521,089 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $29.25, for a total transaction of $15,241,853.25. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 534,089 shares of company stock worth $15,243,073. 5.04% of the stock is currently owned by insiders.
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