Diplomat Pharmacy (DPLO) Trading Up 10.7% Following Analyst Upgrade

Diplomat Pharmacy Inc (NYSE:DPLO) shares traded up 10.7% during trading on Monday after Needham & Company LLC raised their price target on the stock from $24.00 to $26.00. Needham & Company LLC currently has a buy rating on the stock. Diplomat Pharmacy traded as high as $23.08 and last traded at $22.99. 2,577,700 shares were traded during trading, an increase of 145% from the average session volume of 1,050,375 shares. The stock had previously closed at $20.77.

A number of other brokerages have also issued reports on DPLO. BidaskClub upgraded shares of Diplomat Pharmacy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 5th. Mizuho set a $16.00 price target on shares of Diplomat Pharmacy and gave the company a “hold” rating in a research note on Tuesday, October 24th. Zacks Investment Research upgraded shares of Diplomat Pharmacy from a “hold” rating to a “strong-buy” rating and set a $24.00 price target on the stock in a research note on Tuesday, October 10th. Leerink Swann upped their price target on shares of Diplomat Pharmacy from $16.00 to $20.00 and gave the company a “market perform” rating in a research note on Tuesday, November 7th. Finally, Robert W. Baird upgraded shares of Diplomat Pharmacy to a “positive” rating and upped their price target for the company from $20.00 to $24.00 in a research note on Monday, September 18th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $20.94.

In other news, Director Jeffrey G. Park purchased 3,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $15.46 per share, with a total value of $46,380.00. Following the completion of the acquisition, the director now owns 7,640 shares of the company’s stock, valued at approximately $118,114.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Joel Saban purchased 10,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $15.24 per share, for a total transaction of $152,400.00. Following the completion of the acquisition, the president now directly owns 12,000 shares of the company’s stock, valued at approximately $182,880. The disclosure for this purchase can be found here. Insiders bought 15,000 shares of company stock worth $228,780 in the last quarter. Company insiders own 30.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its holdings in Diplomat Pharmacy by 3.3% during the second quarter. The Manufacturers Life Insurance Company now owns 37,644 shares of the company’s stock worth $557,000 after buying an additional 1,211 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Diplomat Pharmacy by 10.4% during the second quarter. Voya Investment Management LLC now owns 21,641 shares of the company’s stock worth $320,000 after buying an additional 2,040 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Diplomat Pharmacy by 0.7% during the second quarter. Principal Financial Group Inc. now owns 332,225 shares of the company’s stock worth $4,917,000 after buying an additional 2,372 shares in the last quarter. Eqis Capital Management Inc. boosted its holdings in Diplomat Pharmacy by 13.3% during the third quarter. Eqis Capital Management Inc. now owns 21,238 shares of the company’s stock worth $440,000 after buying an additional 2,490 shares in the last quarter. Finally, American International Group Inc. boosted its holdings in Diplomat Pharmacy by 7.3% during the third quarter. American International Group Inc. now owns 37,836 shares of the company’s stock worth $784,000 after buying an additional 2,587 shares in the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a market capitalization of $1,600.00, a price-to-earnings ratio of 197.25, a PEG ratio of 3.62 and a beta of 0.62. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.34 and a quick ratio of 0.82.

Diplomat Pharmacy (NYSE:DPLO) last posted its quarterly earnings data on Monday, November 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.10. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.16 billion. Diplomat Pharmacy had a net margin of 0.18% and a return on equity of 8.30%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. sell-side analysts expect that Diplomat Pharmacy Inc will post 0.85 EPS for the current fiscal year.

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About Diplomat Pharmacy

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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