Bank of America Reinstates PharMerica Corporation to Buy

Brokerage firm Bank of America Reinstates its rating on PharMerica Corporation(NYSE:PMC). The shares have been rated Buy. The rating by Bank of America was issued on Jun 7, 2016.

In a different note, Credit Suisse said it Initiates Coverage on PharMerica Corporation, according to a research note issued on Mar 15, 2016. The shares have been rated ‘Outperform’ by the firm. On Mar 14, 2016, UBS said it Downgrades its rating on PharMerica Corporation. In the research note, the firm Lowers the price-target to $40.00 per share. The shares have been rated ‘Neutral’ by the firm.

PharMerica Corporation (PMC) shares turned negative on Fridays trading session with the shares closing down -0.66 points or -2.44% at a volume of 2,28,753. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $27.11. The peak price level was also seen at $27.11 while the days lowest was $26.29. Finally the shares closed at $26.43. The 52-week high of the shares is $36.96 while the 52-week low is $19.79. According to the latest information available, the market cap of the company is $812 M.

PharMerica Corporation(PMC) last announced its earnings results on May 6, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $524.50M. Analysts had an estimated revenue of $509.45M. Earnings per share were $0.45. Analysts had estimated an EPS of $0.43.

Several Insider Transactions has been reported to the SEC. On Dec 3, 2015, Robert A Mckay (SVP Purchasing,Trade Relations) sold 2,993 shares at $34.42 per share price.Also, On Nov 12, 2015, Mark Lindemoen (SVP Sales and Client Services) sold 3,790 shares at $34.71 per share price.On Jun 8, 2015, Gregory S Weishar (Chief Executive Officer) sold 22,855 shares at $32.97 per share price, according to the Form-4 filing with the securities and exchange commission.

PharMerica Corporation is an institutional pharmacy services company. The Company has three operating segments: institutional pharmacy specialty infusion services and specialty oncology pharmacy. The Company’s core business institutional pharmacy segment provides pharmacy products and services 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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