Bullboard - Stock Discussion Forum Neighbourly Pharmacy Inc T.NBLY

Healthcare

Neighbourly Pharmacy Inc. is a Canada-based company that operates a network of community pharmacies. The Company is an owner and operator of retail pharmacies located throughout Canada under banners such as IDA/Guardian, Pharmachoice, Pharmasave and Remedy’s RX. The Company, through its subsidiaries, owns and operates a network of retail pharmacies known as Rubicon Pharmacies (Rubicon or... see more

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Neighbourly Pharmacy Inc > Analyst downgrade

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Post by incomedreamer11 on Jul 19, 2023 1:46pm

Analyst downgrade

DJ Neighbourly Pharmacy's Staffing Shortage Could Indicate Margin Pressure -- Market Talk

Wednesday, July 19, 2023, 9:04 AM ET

0903 ET - Neighbourly Pharmacy's larger staff vacancies list could be the canary in the coal mine for margin pressure. According to a National Bank of Canada note by Zachary Evershed. Neighbourly's open positions count reversed course in early June, which lost ground on prior improvements. Even though the job openings include postings may not affect margin recovery, Evershed says it is "directionally indicative of reliance on relief pharmacists at levels higher than we anticipated." He has downgraded his forecast on margins to 10% from a previous 10.3% "reflecting an adjustment lower to account for increased expenses owing to staffing challenges, though still up 20 bps y/y." Evershed says this should improve next year. (adriano.marchese@wsj.com)

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July 19, 2023 09:04 ET (13:04 GMT)
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