Zacks Investment Research Downgrades Diplomat Pharmacy (DPLO) to Sell

Diplomat Pharmacy (NYSE:DPLO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

According to Zacks, “Diplomat Pharmacy, Inc. operates as an independent specialty pharmacy in the United States. It aids in the dispensing, delivery, dosing and reimbursement of clinically intensive and specialty drugs. The company focuses on medication management programs for people with complex chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, HIV, specialized infusion therapy and many other serious or long-term conditions. Diplomat Pharmacy, Inc. is headquartered in Flint, Michigan. “

Several other research firms have also commented on DPLO. Mizuho set a $8.00 price target on shares of Diplomat Pharmacy and gave the company a “hold” rating in a report on Friday, February 22nd. JPMorgan Chase & Co. lowered shares of Diplomat Pharmacy from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $9.00 to $8.00 in a report on Friday, February 22nd. Lake Street Capital lowered shares of Diplomat Pharmacy from a “buy” rating to a “hold” rating and decreased their price target for the company from $30.00 to $15.00 in a report on Tuesday, January 8th. Morgan Stanley decreased their price target on shares of Diplomat Pharmacy from $20.00 to $18.00 and set an “equal weight” rating for the company in a report on Monday, December 3rd. Finally, TheStreet lowered shares of Diplomat Pharmacy from a “c-” rating to a “d+” rating in a report on Monday, March 4th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Diplomat Pharmacy currently has a consensus rating of “Hold” and a consensus target price of $13.78.

NYSE DPLO opened at $6.42 on Wednesday. Diplomat Pharmacy has a one year low of $5.56 and a one year high of $28.74. The company has a quick ratio of 0.66, a current ratio of 0.95 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $485.54 million, a PE ratio of 7.64 and a beta of 0.74.

A number of large investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in Diplomat Pharmacy by 13.4% in the 4th quarter. Geode Capital Management LLC now owns 598,753 shares of the company’s stock valued at $8,059,000 after purchasing an additional 70,528 shares during the last quarter. Norges Bank bought a new stake in Diplomat Pharmacy in the 4th quarter valued at about $2,592,000. Dimensional Fund Advisors LP lifted its position in Diplomat Pharmacy by 22.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,128,358 shares of the company’s stock valued at $28,650,000 after purchasing an additional 395,246 shares during the last quarter. FMR LLC lifted its position in Diplomat Pharmacy by 61.8% in the 4th quarter. FMR LLC now owns 1,189,312 shares of the company’s stock valued at $16,008,000 after purchasing an additional 454,112 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in Diplomat Pharmacy in the 4th quarter valued at about $8,062,000. Hedge funds and other institutional investors own 86.58% of the company’s stock.

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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