Diplomat Pharmacy (NYSE:DPLO) Rating Lowered to Hold at Deutsche Bank

Diplomat Pharmacy (NYSE:DPLO) was downgraded by research analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a note issued to investors on Friday, February 2nd, MarketBeat reports. They presently have a $29.00 price target on the stock, up from their previous price target of $22.00. Deutsche Bank’s target price would suggest a potential upside of 26.69% from the company’s current price.

A number of other equities analysts have also issued reports on the company. Robert W. Baird lowered Diplomat Pharmacy from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $24.00 to $18.00 in a research note on Thursday, November 16th. BidaskClub lowered Diplomat Pharmacy from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Mizuho set a $25.00 target price on Diplomat Pharmacy and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Needham & Company LLC raised their target price on Diplomat Pharmacy from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, January 8th. Finally, Leerink Swann upgraded Diplomat Pharmacy from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research note on Monday, December 11th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $23.95.

Shares of Diplomat Pharmacy (NYSE DPLO) traded down $0.97 on Friday, hitting $22.89. The stock had a trading volume of 1,320,401 shares, compared to its average volume of 853,858. The stock has a market cap of $1,576.50, a price-to-earnings ratio of 29.73, a PEG ratio of 3.46 and a beta of 1.06. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.82 and a current ratio of 1.34. Diplomat Pharmacy has a 12-month low of $13.39 and a 12-month high of $27.78.

In related news, Director Jeffrey G. Park purchased 3,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $15.46 per share, with a total value of $46,380.00. Following the transaction, the director now owns 7,640 shares of the company’s stock, valued at $118,114.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Atul Kavthekar purchased 2,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $15.00 per share, for a total transaction of $30,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,000 shares in the company, valued at approximately $30,000. The disclosure for this purchase can be found here. Insiders have acquired a total of 15,000 shares of company stock worth $228,780 over the last ninety days. 30.20% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of DPLO. Schwab Charles Investment Management Inc. grew its position in shares of Diplomat Pharmacy by 40.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 230,013 shares of the company’s stock valued at $3,405,000 after acquiring an additional 66,244 shares during the period. Swiss National Bank grew its position in shares of Diplomat Pharmacy by 21.0% during the 2nd quarter. Swiss National Bank now owns 77,900 shares of the company’s stock valued at $1,153,000 after acquiring an additional 13,500 shares during the period. JPMorgan Chase & Co. grew its position in shares of Diplomat Pharmacy by 3,806.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 282,622 shares of the company’s stock valued at $4,183,000 after acquiring an additional 275,387 shares during the period. Teachers Advisors LLC grew its position in shares of Diplomat Pharmacy by 6.3% during the 2nd quarter. Teachers Advisors LLC now owns 297,014 shares of the company’s stock valued at $4,396,000 after acquiring an additional 17,711 shares during the period. Finally, TIAA CREF Investment Management LLC grew its position in shares of Diplomat Pharmacy by 2.0% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 380,101 shares of the company’s stock valued at $5,625,000 after acquiring an additional 7,348 shares during the period. Hedge funds and other institutional investors own 69.87% of the company’s stock.

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Diplomat Pharmacy Company Profile

Diplomat Pharmacy, Inc (Diplomat) operates a specialty pharmacy business, which stocks, dispenses and distributes prescriptions for various biotechnology and specialty pharmaceutical manufacturers. The Company operates through specialty pharmacy services segment. The Company’s primary focus is on medication management programs for individuals with chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, specialty infusion therapy, and various other serious and/or long-term conditions.

Analyst Recommendations for Diplomat Pharmacy (NYSE:DPLO)

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