Price Action Report: A Reversal for PharMerica Corporation Is Not Near. The Stock Declines Again

Price Action Report: A Reversal for PharMerica Corporation Is Not Near. The Stock Declines Again

The stock of PharMerica Corporation (NYSE:PMC) is a huge mover today! About 387,681 shares traded hands or 3.44% up from the average. PharMerica Corporation (NYSE:PMC) has risen 7.36% since April 13, 2016 and is uptrending. It has outperformed by 3.44% the S&P500.
The move comes after 5 months negative chart setup for the $732.47 million company. It was reported on Nov, 15 by Barchart.com. We have $22.17 PT which if reached, will make NYSE:PMC worth $36.62M less.

PharMerica Corporation (NYSE:PMC) Ratings Coverage

Out of 3 analysts covering Pharmerica (NYSE:PMC), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Pharmerica has been the topic of 6 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The company was maintained on Monday, August 10 by Barrington Research. Bank of America maintained PharMerica Corporation (NYSE:PMC) on Tuesday, June 7 with “Buy” rating. Barrington Research maintained the shares of PMC in a report on Tuesday, May 10 with “Outperform” rating. The rating was upgraded by UBS on Monday, August 10 to “Neutral”. On Monday, August 17 the stock rating was downgraded by Zacks to “Hold”. UBS downgraded it to “Neutral” rating and $22 target price in Monday, March 14 report.

According to Zacks Investment Research, “PharMerica Corporation is an institutional pharmacy services provider dedicated to providing quality customer service and innovative pharmacy solutions to institutional customers and patients in long-term care settings. PharMerica is a public company formed through the combination of the institutional pharmacy business of national healthcare services company Kindred Healthcare, Inc. and pharmaceutical services company AmerisourceBergen Corporation. As a result of this combination, PharMerica ranks as an industry-leading U.S. provider of institutional pharmacy services in terms of annual revenues.”

Insitutional Activity: The institutional sentiment decreased to 1.08 in Q2 2016. Its down 0.03, from 1.11 in 2016Q1. The ratio turned negative, as 18 funds sold all PharMerica Corporation shares owned while 53 reduced positions. 27 funds bought stakes while 50 increased positions. They now own 28.21 million shares or 1.34% less from 28.59 million shares in 2016Q1.
Phocas Fincl holds 0.5% of its portfolio in PharMerica Corporation (NYSE:PMC) for 279,348 shares. Jacobs Levy Equity last reported 110,880 shares in the company. Hbk Invs Limited Partnership has 0% invested in the company for 23,917 shares. First Manhattan, a New York-based fund reported 40 shares. Manufacturers Life Ins Communications The accumulated 19,991 shares or 0% of the stock. Quantbot L P accumulated 1,179 shares or 0% of the stock. The Florida-based State Board Of Administration Of Florida Retirement has invested 0% in PharMerica Corporation (NYSE:PMC). Blackrock Institutional Na has invested 0% of its portfolio in PharMerica Corporation (NYSE:PMC). Goldman Sachs Gru Inc has 0% invested in the company for 152,232 shares. The New York-based Metropolitan Life Ins has invested 0% in PharMerica Corporation (NYSE:PMC). Redmile Grp Lc holds 0.62% of its portfolio in PharMerica Corporation (NYSE:PMC) for 263,862 shares. Clarivest Asset Mngmt Ltd Llc holds 0.06% or 75,736 shares in its portfolio. Symphony Asset Mgmt Ltd last reported 8,422 shares in the company. Trexquant L P accumulated 19,188 shares or 0.06% of the stock. Malaga Cove Ltd Liability Co holds 0.82% of its portfolio in PharMerica Corporation (NYSE:PMC) for 45,139 shares.

More notable recent PharMerica Corporation (NYSE:PMC) news were published by: Seekingalpha.com which released: “PharMerica Corp’s (PMC) CEO Greg Weishar on Q3 2016 Results – Earnings Call …” on November 09, 2016, also Businesswire.com with their article: “PharMerica Corporation Announces Planned Retirement of Chief Financial Officer …” published on August 09, 2016, Fool.com published: “Why PharMerica Soared 13.4% Today” on August 25, 2016. More interesting news about PharMerica Corporation (NYSE:PMC) were released by: Businesswire.com and their article: “PharMerica Corporation Announces Fourth Quarter and Year-End 2015 Earnings …” published on February 09, 2016 as well as Businesswire.com‘s news article titled: “PharMerica Completes Two Acquisitions, Achieving Annual Acquisition Goal” with publication date: December 15, 2015.

PMC Company Profile

PharMerica Corporation, incorporated on October23, 2006, is an institutional pharmacy services company. The Firm services healthcare facilities, provides pharmacy management services to hospitals, provides specialty infusion services to patients outside a hospital setting and offers the national oncology pharmacy in the United States. The Firm has three divisions: institutional pharmacy, specialty infusion services and specialty oncology pharmacy. The Company’s core business institutional pharmacy segment provides pharmacy services and products 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.

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