Diplomat Pharmacy Inc. (DPLO) Sees Large Decrease in Short Interest
Diplomat Pharmacy Inc. (NYSE:DPLO) was the recipient of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 6,606,889 shares, a decrease of 38.7% from the October 31st total of 10,782,315 shares. Based on an average daily volume of 3,308,878 shares, the short-interest ratio is currently 2.0 days. Approximately 15.1% of the shares of the company are short sold.
In other Diplomat Pharmacy news, EVP Atheer A. Kaddis sold 20,000 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $30.12, for a total value of $602,400.00. Following the completion of the sale, the executive vice president now directly owns 20,000 shares of the company’s stock, valued at approximately $602,400. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 35.40% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the stock. Suntrust Banks Inc. boosted its stake in shares of Diplomat Pharmacy by 8.0% in the second quarter. Suntrust Banks Inc. now owns 17,230 shares of the company’s stock worth $602,000 after buying an additional 1,276 shares during the last quarter. Riverbridge Partners LLC boosted its stake in shares of Diplomat Pharmacy by 17.2% in the second quarter. Riverbridge Partners LLC now owns 704,785 shares of the company’s stock worth $24,667,000 after buying an additional 103,385 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Diplomat Pharmacy by 25.1% in the second quarter. California State Teachers Retirement System now owns 95,899 shares of the company’s stock worth $3,356,000 after buying an additional 19,257 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its stake in shares of Diplomat Pharmacy by 1.3% in the second quarter. Moody Lynn & Lieberson LLC now owns 15,105 shares of the company’s stock worth $529,000 after buying an additional 190 shares during the last quarter. Finally, Redwood Investments LLC boosted its stake in shares of Diplomat Pharmacy by 27.5% in the second quarter. Redwood Investments LLC now owns 127,107 shares of the company’s stock worth $4,449,000 after buying an additional 27,378 shares during the last quarter. 77.02% of the stock is owned by institutional investors.
DPLO has been the subject of a number of recent research reports. Barclays PLC restated a “buy” rating and issued a $23.00 price objective on shares of Diplomat Pharmacy in a research note on Thursday, November 3rd. Credit Suisse Group AG reiterated a “hold” rating and set a $30.00 target price on shares of Diplomat Pharmacy in a research report on Friday, September 16th. Zacks Investment Research cut shares of Diplomat Pharmacy from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Diplomat Pharmacy in a research report on Thursday, November 3rd. Finally, Raymond James Financial Inc. reiterated a “market perform” rating on shares of Diplomat Pharmacy in a research report on Thursday, November 3rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $26.00.
Diplomat Pharmacy (NYSE:DPLO) opened at 14.16 on Thursday. The company has a market cap of $941.80 million, a price-to-earnings ratio of 29.20 and a beta of 1.21. The stock has a 50 day moving average of $20.32 and a 200 day moving average of $29.80. Diplomat Pharmacy has a 52 week low of $12.47 and a 52 week high of $38.94.
Diplomat Pharmacy (NYSE:DPLO) last announced its earnings results on Wednesday, November 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.03. The business earned $1.18 billion during the quarter, compared to the consensus estimate of $1.26 billion. Diplomat Pharmacy had a net margin of 0.77% and a return on equity of 10.47%. The company’s revenue was up 24.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 EPS. Equities research analysts predict that Diplomat Pharmacy will post $0.84 earnings per share for the current fiscal year.
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Diplomat Pharmacy Company Profile
Diplomat Pharmacy, Inc operates a specialty pharmacy business, which stocks, dispenses and distributes prescriptions for various biotechnology and specialty pharmaceutical manufacturers. The Company’s primary focus is on medication management programs for individuals with chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, specialized infusion therapy, and various other serious and/or long-term conditions.
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