Diplomat Pharmacy (DPLO) Hits New 12-Month Low on Disappointing Earnings

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Diplomat Pharmacy Inc (NYSE:DPLO) reached a new 52-week low on Wednesday following a weaker than expected earnings announcement. The company traded as low as $13.31 and last traded at $14.29, with a volume of 218205 shares trading hands. The stock had previously closed at $20.34.

The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Diplomat Pharmacy had a return on equity of 7.86% and a net margin of 0.06%. Diplomat Pharmacy’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 EPS.

A number of equities analysts recently commented on the stock. ValuEngine cut shares of Diplomat Pharmacy from a “hold” rating to a “sell” rating in a research report on Tuesday. Robert W. Baird cut shares of Diplomat Pharmacy from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $22.00 to $10.00 in a research report on Wednesday. Finally, Zacks Investment Research cut shares of Diplomat Pharmacy from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Diplomat Pharmacy presently has a consensus rating of “Hold” and a consensus price target of $26.10.

In other Diplomat Pharmacy news, Director Philip R. Hagerman sold 209,367 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $19.07, for a total value of $3,992,628.69. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Philip R. Hagerman sold 57,500 shares of the business’s 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 disclosure for this sale can be found here. 24.70% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its position in shares of Diplomat Pharmacy by 2.3% in the first 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 during the period. Metropolitan Life Insurance Co. NY increased its position in shares of Diplomat Pharmacy by 6.7% during the second quarter. Metropolitan Life Insurance Co. NY now owns 43,782 shares of the company’s stock valued at $1,119,000 after buying an additional 2,746 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in shares of Diplomat Pharmacy by 32.4% during the third quarter. Dorsey & Whitney Trust CO LLC now owns 11,397 shares of the company’s stock valued at $221,000 after buying an additional 2,790 shares during the period. State of Alaska Department of Revenue increased its position in shares of Diplomat Pharmacy by 19.4% during the third quarter. State of Alaska Department of Revenue now owns 18,814 shares of the company’s stock valued at $365,000 after buying an additional 3,061 shares during the period. Finally, OLD National Bancorp IN increased its position in shares of Diplomat Pharmacy by 24.9% during the second quarter. OLD National Bancorp IN now owns 15,791 shares of the company’s stock valued at $404,000 after buying an additional 3,148 shares during the period. Hedge funds and other institutional investors own 82.05% of the company’s stock.

The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 0.58. The stock has a market cap of $1.57 billion, a PE ratio of 17.26 and a beta of 0.95.

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About Diplomat Pharmacy (NYSE:DPLO)

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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