BioScrip Inc (NASDAQ:BIOS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, May 10th.
According to Zacks, “BioScrip posted a dull first quarter, with earnings and sales missing the Zacks Consensus Estimate. The year-over-year drop in revenues in the first quarter was partly due to lower-than-expected core sales volumes. Management’s 2017 guidance, which includes the negative impact of the Cures Act legislation, also adds to our concerns. Reimbursement pressure and a tough competitive scenario continue to pose challenges. However, the dismal first-quarter performance has not affected the share price, which has been trading above the broader Medical Output/Homecare industry for majority of the last three months. We are encouraged by the company’s progress in the first quarter for its new multi-faceted CORE plan to improve its financial position. Further, BioScrip successfully completed the Home Solutions’ integration within the first quarter.”
Several other brokerages have also commented on BIOS. Jefferies Group LLC upped their price objective on shares of BioScrip from $2.50 to $3.00 and gave the stock a “buy” rating in a report on Monday, March 6th. Barrington Research upped their price objective on shares of BioScrip from $1.50 to $2.25 and gave the stock an “outperform” rating in a report on Monday, March 6th.
BioScrip (NASDAQ:BIOS) opened at 2.05 on Wednesday. The stock has a 50 day moving average price of $1.65 and a 200 day moving average price of $1.53. BioScrip has a 12 month low of $0.98 and a 12 month high of $3.43. The stock’s market capitalization is $248.01 million.
BioScrip (NASDAQ:BIOS) last issued its quarterly earnings data on Thursday, May 4th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by $0.04. The firm had revenue of $217.80 million for the quarter, compared to analysts’ expectations of $230.23 million. During the same quarter in the prior year, the company posted ($0.17) EPS. The business’s revenue was down 8.7% on a year-over-year basis. On average, equities research analysts forecast that BioScrip will post ($0.43) earnings per share for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the company. Ardsley Advisory Partners acquired a new stake in BioScrip during the third quarter worth about $12,521,000. Tamarack Advisers LP acquired a new stake in BioScrip during the third quarter worth about $2,446,000. Sheets Smith Wealth Management raised its stake in BioScrip by 33.9% in the first quarter. Sheets Smith Wealth Management now owns 110,508 shares of the company’s stock worth $188,000 after buying an additional 27,998 shares during the period. FMR LLC raised its stake in BioScrip by 3,489.1% in the fourth quarter. FMR LLC now owns 3,529,795 shares of the company’s stock worth $3,671,000 after buying an additional 3,431,447 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC acquired a new stake in BioScrip during the first quarter worth about $7,422,000. Institutional investors own 82.02% of the company’s stock.
BioScrip, Inc is engaged in providing infusion solutions. The Company partners with physicians, hospital systems, skilled nursing facilities, healthcare payors and pharmaceutical manufacturers to provide patients access to post-acute care services. The Company operates through Infusion Services segment.
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