Diplomat Pharmacy (DPLO) Rating Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Diplomat Pharmacy (NYSE:DPLO) from a hold rating to a sell rating in a research note published on Wednesday, September 12th.

Other analysts also recently issued reports about the company. Leerink Swann restated an outperform rating and issued a $33.00 price target on shares of Diplomat Pharmacy in a research report on Friday, June 22nd. Morgan Stanley raised their price target on Diplomat Pharmacy from $16.00 to $21.00 and gave the stock an equal weight rating in a research report on Tuesday, July 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $26.64.

DPLO traded up $0.24 during trading on Wednesday, reaching $18.54. 470,080 shares of the company traded hands, compared to its average volume of 981,934. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.91 and a quick ratio of 0.63. Diplomat Pharmacy has a 12-month low of $14.50 and a 12-month high of $28.74. The firm has a market cap of $1.44 billion, a P/E ratio of 22.07 and a beta of 1.13.

Diplomat Pharmacy (NYSE:DPLO) last posted its earnings results on Monday, August 6th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. Diplomat Pharmacy had a net margin of 0.06% and a return on equity of 7.86%. The firm’s revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 earnings per share. On average, sell-side analysts anticipate that Diplomat Pharmacy will post 0.83 earnings per share for the current year.

In other news, Director Philip R. Hagerman sold 57,500 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $19.21, for a total transaction of $1,104,575.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Philip R. Hagerman sold 209,367 shares of the firm’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $19.07, for a total value of $3,992,628.69. The disclosure for this sale can be found here. Company insiders own 24.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in Diplomat Pharmacy by 11.1% in the second quarter. BlackRock Inc. now owns 7,235,761 shares of the company’s stock valued at $184,946,000 after purchasing an additional 724,925 shares during the last quarter. Janus Henderson Group PLC grew its stake in Diplomat Pharmacy by 30.7% in the second quarter. Janus Henderson Group PLC now owns 5,385,168 shares of the company’s stock valued at $137,645,000 after purchasing an additional 1,265,271 shares during the last quarter. FMR LLC grew its stake in Diplomat Pharmacy by 154.4% in the second quarter. FMR LLC now owns 2,798,440 shares of the company’s stock valued at $71,528,000 after purchasing an additional 1,698,341 shares during the last quarter. Northern Trust Corp boosted its holdings in Diplomat Pharmacy by 5.9% in the second quarter. Northern Trust Corp now owns 1,302,681 shares of the company’s stock worth $33,296,000 after acquiring an additional 72,670 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Diplomat Pharmacy by 17,568.5% in the second quarter. Victory Capital Management Inc. now owns 1,239,442 shares of the company’s stock worth $31,679,000 after acquiring an additional 1,232,427 shares in the last quarter. Hedge funds and other institutional investors own 80.89% of the company’s stock.

About Diplomat Pharmacy

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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