Diplomat Pharmacy (NYSE:DPLO) Stock Rating Lowered by Zacks Investment Research

Diplomat Pharmacy (NYSE:DPLO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday, Zacks.com reports.

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. “

DPLO has been the topic of several other reports. ValuEngine cut shares of Diplomat Pharmacy from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Barclays cut shares of Diplomat Pharmacy from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $7.00 to $3.00 in a report on Wednesday. Deutsche Bank started coverage on shares of Diplomat Pharmacy in a report on Thursday, September 12th. They set a “sell” rating and a $4.00 target price on the stock. Finally, Wells Fargo & Co raised their target price on shares of Diplomat Pharmacy from $5.00 to $5.50 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $9.14.

Shares of DPLO opened at $3.81 on Friday. Diplomat Pharmacy has a 12 month low of $2.43 and a 12 month high of $16.35. The firm’s 50 day moving average is $5.06 and its 200-day moving average is $5.35. The stock has a market capitalization of $241.14 million, a PE ratio of 19.05 and a beta of 1.00. The company has a current ratio of 0.55, a quick ratio of 0.66 and a debt-to-equity ratio of 0.18.

Diplomat Pharmacy (NYSE:DPLO) last announced its earnings results on Tuesday, November 12th. The company reported ($2.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($2.15). Diplomat Pharmacy had a negative return on equity of 12.15% and a negative net margin of 12.47%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.17 billion. The firm’s revenue was down 5.3% compared to the same quarter last year. Equities research analysts predict that Diplomat Pharmacy will post -0.88 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in Diplomat Pharmacy by 390.0% in the second quarter. JPMorgan Chase & Co. now owns 1,445,834 shares of the company’s stock valued at $8,632,000 after buying an additional 1,150,740 shares in the last quarter. Aperio Group LLC boosted its position in Diplomat Pharmacy by 127.0% in the second quarter. Aperio Group LLC now owns 28,304 shares of the company’s stock valued at $172,000 after buying an additional 15,834 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in Diplomat Pharmacy in the second quarter valued at approximately $433,000. Price T Rowe Associates Inc. MD boosted its position in Diplomat Pharmacy by 5.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 192,456 shares of the company’s stock valued at $1,172,000 after buying an additional 9,800 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Diplomat Pharmacy in the second quarter valued at approximately $192,000. Institutional investors and hedge funds own 84.35% of the company’s stock.

Diplomat Pharmacy Company Profile

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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