Diplomat Pharmacy (DPLO) Price Target Lowered to $18.00 at Mizuho

Diplomat Pharmacy (NYSE:DPLO) had its target price lowered by Mizuho to $18.00 in a report issued on Friday morning, The Fly reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts also recently commented on DPLO. ValuEngine downgraded shares of Diplomat Pharmacy from a hold rating to a sell rating in a report on Tuesday. Wells Fargo & Co reduced their price objective on shares of Diplomat Pharmacy from $23.00 to $16.00 and set a market perform rating for the company in a report on Thursday. Zacks Investment Research downgraded shares of Diplomat Pharmacy from a hold rating to a sell rating in a report on Tuesday, October 23rd. Finally, Robert W. Baird downgraded shares of Diplomat Pharmacy from a neutral rating to an underperform rating and reduced their price objective for the stock from $22.00 to $10.00 in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $24.50.

Diplomat Pharmacy stock traded up $0.04 during mid-day trading on Friday, reaching $16.09. The company had a trading volume of 1,694,581 shares, compared to its average volume of 1,097,092. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.95 and a quick ratio of 0.63. Diplomat Pharmacy has a 52 week low of $13.31 and a 52 week high of $28.74. The company has a market cap of $1.10 billion, a PE ratio of 19.15 and a beta of 0.95.

Diplomat Pharmacy (NYSE:DPLO) last released its quarterly earnings data on Tuesday, November 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.21). The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.42 billion. Diplomat Pharmacy had a return on equity of 5.31% and a net margin of 0.04%. Diplomat Pharmacy’s revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 earnings per share. Analysts expect that Diplomat Pharmacy will post 0.81 earnings per share for the current fiscal year.

In related news, Director Philip R. Hagerman sold 57,500 shares of Diplomat Pharmacy stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $19.21, for a total transaction of $1,104,575.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Philip R. Hagerman sold 209,367 shares of Diplomat Pharmacy stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $19.07, for a total transaction of $3,992,628.69. The disclosure for this sale can be found here. 24.70% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc increased its position in Diplomat Pharmacy by 2.3% in the 1st quarter. Legal & General Group Plc now owns 100,097 shares of the company’s stock valued at $2,031,000 after acquiring an additional 2,264 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in Diplomat Pharmacy by 6.7% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 43,782 shares of the company’s stock valued at $1,119,000 after acquiring an additional 2,746 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its position in Diplomat Pharmacy by 32.4% in the 3rd quarter. Dorsey & Whitney Trust CO LLC now owns 11,397 shares of the company’s stock valued at $221,000 after acquiring an additional 2,790 shares in the last quarter. State of Alaska Department of Revenue increased its position in Diplomat Pharmacy by 19.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 18,814 shares of the company’s stock valued at $365,000 after acquiring an additional 3,061 shares in the last quarter. Finally, OLD National Bancorp IN increased its position in Diplomat Pharmacy by 24.9% in the 2nd quarter. OLD National Bancorp IN now owns 15,791 shares of the company’s stock valued at $404,000 after acquiring an additional 3,148 shares in the last quarter. 82.05% of the stock is owned by hedge funds and other institutional investors.

Diplomat Pharmacy Company Profile

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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