Diplomat Pharmacy (NYSE:DPLO) Cut to “Equal Weight” at Barclays

Barclays cut shares of Diplomat Pharmacy (NYSE:DPLO) from an overweight rating to an equal weight rating in a report published on Wednesday, Briefing.com Automated Import reports. Barclays currently has $3.00 price target on the stock, down from their prior price target of $7.00.

DPLO has been the subject of several other reports. Wells Fargo & Co lifted their price target on Diplomat Pharmacy from $5.00 to $5.50 and gave the company a market perform rating in a research report on Tuesday, August 13th. ValuEngine cut Diplomat Pharmacy from a strong-buy rating to a buy rating in a research report on Wednesday. Zacks Investment Research upgraded Diplomat Pharmacy from a sell rating to a hold rating in a research report on Monday, October 14th. Finally, Deutsche Bank initiated coverage on Diplomat Pharmacy in a report on Thursday, September 12th. They issued a sell rating and a $4.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $9.14.

DPLO stock traded up $0.47 during trading on Wednesday, hitting $3.81. 2,106,394 shares of the company traded hands, compared to its average volume of 1,526,688. The stock’s 50-day simple moving average is $5.06 and its 200 day simple moving average is $5.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 0.66. The company has a market cap of $253.75 million, a PE ratio of 19.05 and a beta of 1.00. Diplomat Pharmacy has a 1 year low of $2.43 and a 1 year high of $16.35.

Diplomat Pharmacy (NYSE:DPLO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($2.35) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($2.15). The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Diplomat Pharmacy had a negative net margin of 12.47% and a negative return on equity of 12.15%. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. Research analysts expect that Diplomat Pharmacy will post -0.93 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in shares of Diplomat Pharmacy by 390.0% in the second quarter. JPMorgan Chase & Co. now owns 1,445,834 shares of the company’s stock worth $8,632,000 after acquiring an additional 1,150,740 shares during the last quarter. Aperio Group LLC boosted its stake in shares of Diplomat Pharmacy by 127.0% in the second quarter. Aperio Group LLC now owns 28,304 shares of the company’s stock worth $172,000 after acquiring an additional 15,834 shares during the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Diplomat Pharmacy in the second quarter worth approximately $433,000. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 worth $1,172,000 after acquiring an additional 9,800 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Diplomat Pharmacy in the second quarter worth approximately $192,000. 84.35% of the stock is currently owned by institutional investors.

About Diplomat Pharmacy

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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Analyst Recommendations for Diplomat Pharmacy (NYSE:DPLO)

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