Diplomat Pharmacy (NYSE:DPLO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
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. “
Other equities research analysts have also recently issued reports about the company. Needham & Company LLC boosted their price objective on Diplomat Pharmacy from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, January 8th. Deutsche Bank initiated coverage on Diplomat Pharmacy in a research note on Monday, December 4th. They set a “buy” rating and a $22.00 price objective on the stock. Lake Street Capital initiated coverage on Diplomat Pharmacy in a research note on Friday, February 9th. They set a “buy” rating and a $35.00 price objective on the stock. Mizuho set a $25.00 price objective on Diplomat Pharmacy and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Finally, BidaskClub cut Diplomat Pharmacy from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $23.95.
Shares of Diplomat Pharmacy (NYSE DPLO) traded up $0.12 during midday trading on Wednesday, reaching $23.91. The company’s stock had a trading volume of 853,241 shares, compared to its average volume of 923,338. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.18. Diplomat Pharmacy has a 52 week low of $13.39 and a 52 week high of $27.78. The company has a market capitalization of $1,659.84, a PE ratio of 239.10 and a beta of 1.06.
Several large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its position in shares of Diplomat Pharmacy by 27.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 16,655 shares of the company’s stock valued at $334,000 after buying an additional 3,550 shares during the period. Phocas Financial Corp. boosted its position in shares of Diplomat Pharmacy by 142.9% during the fourth quarter. Phocas Financial Corp. now owns 663,187 shares of the company’s stock valued at $13,310,000 after buying an additional 390,168 shares during the period. MetLife Investment Advisors LLC purchased a new position in shares of Diplomat Pharmacy during the fourth quarter valued at approximately $448,000. Macquarie Group Ltd. purchased a new position in shares of Diplomat Pharmacy during the fourth quarter valued at approximately $315,000. Finally, Vident Investment Advisory LLC boosted its position in shares of Diplomat Pharmacy by 6.5% during the fourth quarter. Vident Investment Advisory LLC now owns 150,504 shares of the company’s stock valued at $3,021,000 after buying an additional 9,196 shares during the period. Institutional investors and hedge funds own 73.44% of the company’s stock.
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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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