Diplomat Pharmacy, Inc. (DPLO) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Diplomat Pharmacy, Inc. (NYSE:DPLO) from a sell rating to a hold rating in a research note published on Wednesday morning.
According to Zacks, “Diplomat Pharmacy, Inc. operates as an independent specialty pharmacy in the United States. It aids in the dispensing, delivery, dosing and reimbursement of clinically intensive and specialty drugs. The company focuses on medication management programs for people with complex chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, HIV, specialized infusion therapy and many other serious or long-term conditions. Diplomat Pharmacy, Inc. is headquartered in Flint, Michigan. “
A number of other equities research analysts have also recently commented on the company. Barclays PLC set a $20.00 target price on Diplomat Pharmacy and gave the stock a buy rating in a research note on Tuesday, May 9th. Needham & Company LLC assumed coverage on Diplomat Pharmacy in a research note on Friday, July 21st. They issued a buy rating and a $19.75 target price on the stock. BidaskClub cut Diplomat Pharmacy from a buy rating to a hold rating in a research note on Thursday, June 29th. Cowen and Company increased their target price on Diplomat Pharmacy from $12.00 to $17.00 and gave the stock a market perform rating in a research note on Tuesday, May 9th. Finally, Leerink Swann reissued a market perform rating and issued a $18.00 target price (up from $16.00) on shares of Diplomat Pharmacy in a research note on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $17.89.
Shares of Diplomat Pharmacy (NYSE:DPLO) traded up 1.63% during mid-day trading on Wednesday, hitting $16.20. 733,956 shares of the stock traded hands. The firm’s 50-day moving average is $15.43 and its 200-day moving average is $15.74. Diplomat Pharmacy has a 52 week low of $12.25 and a 52 week high of $34.80. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 88.52 and a beta of 0.66.
Diplomat Pharmacy (NYSE:DPLO) last issued its quarterly earnings results on Monday, August 7th. The company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.10. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Diplomat Pharmacy had a return on equity of 7.97% and a net margin of 0.27%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 earnings per share. On average, analysts forecast that Diplomat Pharmacy will post $0.75 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of DPLO. JPMorgan Chase & Co. increased its position in Diplomat Pharmacy by 73.1% in the first quarter. JPMorgan Chase & Co. now owns 7,235 shares of the company’s stock worth $116,000 after buying an additional 3,056 shares in the last quarter. State of Alaska Department of Revenue increased its position in Diplomat Pharmacy by 80.0% in the second quarter. State of Alaska Department of Revenue now owns 8,623 shares of the company’s stock worth $127,000 after buying an additional 3,833 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Diplomat Pharmacy by 46.7% in the second quarter. PNC Financial Services Group Inc. now owns 8,779 shares of the company’s stock worth $130,000 after buying an additional 2,794 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Diplomat Pharmacy by 13.8% in the first quarter. BNP Paribas Arbitrage SA now owns 8,876 shares of the company’s stock worth $142,000 after buying an additional 1,073 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Diplomat Pharmacy during the first quarter worth $160,000. 72.02% of the stock is currently owned by institutional investors.
Diplomat Pharmacy Company Profile
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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