Diplomat Pharmacy (NYSE:DPLO) Shares Up 7.5%

Diplomat Pharmacy Inc (NYSE:DPLO)’s share price shot up 7.5% during trading on Friday . The company traded as high as $5.93 and last traded at $5.72, 2,792,765 shares were traded during trading. An increase of 169% from the average session volume of 1,039,153 shares. The stock had previously closed at $5.32.

A number of brokerages recently commented on DPLO. Zacks Investment Research lowered Diplomat Pharmacy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Credit Suisse Group dropped their price target on Diplomat Pharmacy from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Guggenheim began coverage on Diplomat Pharmacy in a research note on Wednesday, April 17th. They set a “neutral” rating and a $6.00 price target for the company. Finally, ValuEngine raised Diplomat Pharmacy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $9.96.

The company has a market capitalization of $378.80 million, a price-to-earnings ratio of 28.60 and a beta of 1.06. The firm’s 50 day moving average is $5.57. The company has a quick ratio of 0.66, a current ratio of 1.00 and a debt-to-equity ratio of 1.00.

Diplomat Pharmacy (NYSE:DPLO) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.26). The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.17 billion. Diplomat Pharmacy had a positive return on equity of 1.38% and a negative net margin of 5.85%. Diplomat Pharmacy’s revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. As a group, research analysts anticipate that Diplomat Pharmacy Inc will post -0.55 EPS for the current year.

A number of large investors have recently made changes to their positions in the stock. Stephens Inc. AR increased its position in shares of Diplomat Pharmacy by 1,482.3% in the 2nd quarter. Stephens Inc. AR now owns 6,600,015 shares of the company’s stock worth $40,194,000 after purchasing an additional 6,182,889 shares during the last quarter. JPMorgan Chase & Co. increased its position in Diplomat Pharmacy by 390.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,445,834 shares of the company’s stock valued at $8,632,000 after purchasing an additional 1,150,740 shares during the period. Dimensional Fund Advisors LP increased its position in Diplomat Pharmacy by 22.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,128,358 shares of the company’s stock valued at $28,650,000 after purchasing an additional 395,246 shares during the period. Norges Bank acquired a new stake in Diplomat Pharmacy during the 4th quarter valued at approximately $2,592,000. Finally, Laurion Capital Management LP acquired a new stake in Diplomat Pharmacy during the 1st quarter valued at approximately $710,000. Hedge funds and other institutional investors own 79.40% of the company’s stock.

About Diplomat Pharmacy (NYSE:DPLO)

Diplomat Pharmacy, Inc operates as an independent specialty pharmacy in the United States. The company operates through Specialty and PBM (pharmacy benefit management) segment. It provides specialty infusion pharmacy, patient care coordination, clinical, compliance and persistency program, patient financial assistance, specialty pharmacy training, 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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