Pharmerica Corporation (PMC) Shares Sold by Systematic Financial Management LP
Systematic Financial Management LP decreased its stake in Pharmerica Corporation (NYSE:PMC) by 21.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 445,699 shares of the company’s stock after selling 122,329 shares during the period. Systematic Financial Management LP’s holdings in Pharmerica Corporation were worth $11,209,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of PMC. Oxford Asset Management acquired a new stake in shares of Pharmerica Corporation during the fourth quarter valued at about $410,000. State Street Corp boosted its stake in shares of Pharmerica Corporation by 8.1% in the fourth quarter. State Street Corp now owns 756,145 shares of the company’s stock valued at $19,020,000 after buying an additional 56,414 shares in the last quarter. Comerica Bank boosted its stake in shares of Pharmerica Corporation by 5.6% in the fourth quarter. Comerica Bank now owns 32,773 shares of the company’s stock valued at $859,000 after buying an additional 1,728 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Pharmerica Corporation during the fourth quarter valued at about $845,000. Finally, Cornercap Investment Counsel Inc. boosted its stake in shares of Pharmerica Corporation by 31.7% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 54,670 shares of the company’s stock valued at $1,375,000 after buying an additional 13,145 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pharmerica Corporation (NYSE:PMC) traded down 1.52% during mid-day trading on Friday, reaching $25.90. 26,386 shares of the company traded hands. Pharmerica Corporation has a 52-week low of $19.20 and a 52-week high of $31.02. The firm’s 50 day moving average price is $25.46 and its 200-day moving average price is $25.37. The company has a market capitalization of $797.23 million, a P/E ratio of 23.61 and a beta of 1.10.
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Separately, Zacks Investment Research raised shares of Pharmerica Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, January 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Pharmerica Corporation currently has an average rating of “Hold” and an average target price of $30.00.
About Pharmerica Corporation
PharMerica Corporation is an institutional pharmacy services company. The Company services healthcare facilities, provides pharmacy management services to hospitals, provides specialty infusion services to patients outside a hospital setting and offers the national oncology pharmacy in the United States.
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