BioScrip, Inc. (BIOS) Rating Lowered to Sell at Zacks Investment Research
BioScrip, Inc. (NASDAQ:BIOS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
According to Zacks, “BioScrip exited the third quarter on a dismal note, with earnings and revenues missing the Zacks Consensus Estimate. We are encouraged by the company’s recent progress, courtesy of its new multi-faceted CORE plan to improve the financial position. We are also upbeat about the company’s completion of the UnitedHealthcare contract transition and expectations of strong core revenue growth. Accordingly, over the last six months, BioScrip has been trading above the broader industry. On the flip side, a competitive landscape continues to be a major dampener. Also, management’s slashed guidance for 2017 adds to our concerns.”
BIOS has been the subject of several other reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $4.00 target price (up from $3.00) on shares of BioScrip in a research report on Thursday, August 10th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $3.00 target price on shares of BioScrip in a research report on Friday. ValuEngine cut BioScrip from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, BidaskClub cut BioScrip from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $3.60.
Shares of BioScrip (NASDAQ BIOS) traded down $0.13 during mid-day trading on Tuesday, reaching $1.94. The company had a trading volume of 1,539,728 shares, compared to its average volume of 972,377. BioScrip has a 52-week low of $0.98 and a 52-week high of $3.39. The company has a debt-to-equity ratio of -6.11, a current ratio of 1.91 and a quick ratio of 1.60.
BioScrip (NASDAQ:BIOS) last issued its earnings results on Thursday, November 2nd. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $198.70 million during the quarter, compared to analysts’ expectations of $202.91 million. BioScrip’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.12) earnings per share. sell-side analysts predict that BioScrip will post -0.55 earnings per share for the current fiscal year.
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In other BioScrip news, Director Michael G. Bronfein sold 27,000 shares of BioScrip stock in a transaction on Friday, September 15th. The stock was sold at an average price of $2.69, for a total transaction of $72,630.00. Following the completion of the transaction, the director now directly owns 129,669 shares of the company’s stock, valued at $348,809.61. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Coliseum Capital Management, L sold 2,846,941 shares of BioScrip stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $2.93, for a total value of $8,341,537.13. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,760,419 shares of company stock valued at $11,144,519. Company insiders own 0.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its holdings in shares of BioScrip by 65.8% during the first quarter. Goldman Sachs Group Inc. now owns 64,257 shares of the company’s stock valued at $109,000 after acquiring an additional 25,500 shares during the period. American International Group Inc. lifted its holdings in shares of BioScrip by 73.8% during the first quarter. American International Group Inc. now owns 67,812 shares of the company’s stock valued at $115,000 after acquiring an additional 28,787 shares during the period. Captrust Financial Advisors bought a new position in shares of BioScrip during the second quarter valued at $123,000. Voya Investment Management LLC raised its holdings in shares of BioScrip by 41.4% in the second quarter. Voya Investment Management LLC now owns 50,799 shares of the company’s stock valued at $138,000 after buying an additional 14,867 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of BioScrip by 1.1% in the first quarter. Wells Fargo & Company MN now owns 113,710 shares of the company’s stock valued at $193,000 after buying an additional 1,254 shares during the last quarter. 83.67% of the stock is owned by institutional investors.
BioScrip Company Profile
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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