Allianz Asset Management AG Sells 32,113 Shares of PharMerica Co. (PMC)

Allianz Asset Management AG reduced its stake in shares of PharMerica Co. (NYSE:PMC) by 70.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,563 shares of the company’s stock after selling 32,113 shares during the period. Allianz Asset Management AG’s holdings in PharMerica were worth $341,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in PharMerica by 1.7% in the third quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock valued at $214,000 after buying an additional 126 shares during the last quarter. Aperio Group LLC purchased a new stake in PharMerica during the third quarter valued at $275,000. M&T Bank Corp purchased a new stake in PharMerica during the third quarter valued at $296,000. Oxford Asset Management purchased a new stake in PharMerica during the fourth quarter valued at $410,000. Finally, Assetmark Inc. purchased a new stake in PharMerica during the third quarter valued at $414,000. 97.15% of the stock is owned by hedge funds and other institutional investors.

PharMerica Co. (NYSE:PMC) traded down 1.91% on Friday, hitting $23.05. 119,782 shares of the company were exchanged. The company has a 50 day moving average price of $23.09 and a 200-day moving average price of $24.74. PharMerica Co. has a 52 week low of $19.20 and a 52 week high of $28.72. The stock has a market capitalization of $709.69 million, a P/E ratio of 33.41 and a beta of 1.10.

PharMerica (NYSE:PMC) last released its quarterly earnings data on Friday, February 24th. The company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.07. PharMerica had a return on equity of 10.40% and a net margin of 1.64%. The business had revenue of $534.40 million for the quarter, compared to analyst estimates of $525.22 million. During the same quarter in the prior year, the firm posted $0.45 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts expect that PharMerica Co. will post $1.89 earnings per share for the current fiscal year.

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Separately, Zacks Investment Research upgraded shares of PharMerica from a “sell” rating to a “hold” rating in a report on Wednesday, December 28th.

About PharMerica