State of Tennessee Treasury Department trimmed its holdings in shares of Diplomat Pharmacy (NYSE:DPLO) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,650 shares of the company’s stock after selling 4,099 shares during the period. State of Tennessee Treasury Department owned about 0.05% of Diplomat Pharmacy worth $756,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in DPLO. Arrowstreet Capital Limited Partnership acquired a new position in shares of Diplomat Pharmacy during the fourth quarter worth $423,000. BlackRock Inc. lifted its position in shares of Diplomat Pharmacy by 3.6% during the fourth quarter. BlackRock Inc. now owns 6,754,710 shares of the company’s stock worth $135,566,000 after purchasing an additional 237,500 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Diplomat Pharmacy by 4.6% during the fourth quarter. Bank of New York Mellon Corp now owns 631,364 shares of the company’s stock worth $12,673,000 after purchasing an additional 27,837 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Diplomat Pharmacy by 16.1% during the fourth quarter. Rhumbline Advisers now owns 113,326 shares of the company’s stock worth $2,274,000 after purchasing an additional 15,713 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Diplomat Pharmacy by 226.7% during the fourth quarter. Arizona State Retirement System now owns 81,033 shares of the company’s stock worth $1,626,000 after purchasing an additional 56,233 shares in the last quarter. 64.64% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on DPLO shares. Leerink Swann raised shares of Diplomat Pharmacy from a “market perform” rating to an “outperform” rating and set a $23.00 target price on the stock in a research report on Monday, December 11th. Lake Street Capital assumed coverage on shares of Diplomat Pharmacy in a research note on Friday, February 9th. They issued a “buy” rating and a $35.00 price target for the company. Credit Suisse Group upgraded shares of Diplomat Pharmacy from an “underperform” rating to a “neutral” rating and set a $28.00 price target for the company in a research note on Thursday, January 25th. Barclays assumed coverage on shares of Diplomat Pharmacy in a research note on Thursday, March 8th. They issued an “overweight” rating and a $27.00 price target for the company. Finally, Mizuho set a $25.00 price target on shares of Diplomat Pharmacy and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $25.38.
In other news, Director Philip R. Hagerman sold 2,150,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $20.65, for a total transaction of $44,397,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 30.20% of the stock is currently owned by corporate insiders.
DPLO stock traded down $0.42 during trading on Friday, hitting $19.72. 499,137 shares of the company’s stock traded hands, compared to its average volume of 845,807. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.97 and a quick ratio of 0.66. Diplomat Pharmacy has a 52 week low of $14.00 and a 52 week high of $27.78. The firm has a market cap of $1,491.75, a price-to-earnings ratio of 23.48 and a beta of 1.32.
Diplomat Pharmacy (NYSE:DPLO) last released its quarterly earnings results on Monday, February 26th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. Diplomat Pharmacy had a net margin of 0.35% and a return on equity of 8.89%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. analysts expect that Diplomat Pharmacy will post 0.94 EPS for the current fiscal year.
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Diplomat Pharmacy Profile
Diplomat Pharmacy, Inc operates as an independent specialty pharmacy in the United States. The company stocks, dispenses, and distributes prescriptions for various biotechnology and specialty pharmaceutical manufacturers. It also provides specialty infusion pharmacy, patient care coordination, clinical, compliance and persistency program, patient financial assistance, specialty pharmacy training/consulting, benefits investigation, prior authorization, risk evaluation and medication strategy, retail specialty, and hub services, as well as clinical and administrative support services to hospitals and health systems.
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