Zacks Investment Research Weighs in on Chembio Diagnostics, Inc.’s FY2018 Earnings (CEMI)
Chembio Diagnostics, Inc. (NASDAQ:CEMI) – Stock analysts at Zacks Investment Research increased their FY2018 EPS estimates for Chembio Diagnostics in a note issued to investors on Wednesday. Zacks Investment Research analyst B. Marckx now forecasts that the company will post earnings per share of ($0.23) for the year, up from their previous estimate of ($0.27). Zacks Investment Research also issued estimates for Chembio Diagnostics’ FY2019 earnings at ($0.11) EPS.
Shares of Chembio Diagnostics (NASDAQ:CEMI) traded down $0.13 on Monday, hitting $7.15. 10,700 shares of the stock traded hands, compared to its average volume of 21,171. Chembio Diagnostics has a 52 week low of $5.05 and a 52 week high of $7.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.54 and a quick ratio of 2.19.
Several institutional investors and hedge funds have recently made changes to their positions in CEMI. Royce & Associates LP acquired a new position in shares of Chembio Diagnostics during the second quarter valued at $132,000. Goldman Sachs Group Inc. acquired a new position in shares of Chembio Diagnostics during the second quarter valued at $151,000. Benchmark Capital Advisors boosted its holdings in shares of Chembio Diagnostics by 174.2% during the third quarter. Benchmark Capital Advisors now owns 32,900 shares of the company’s stock valued at $204,000 after acquiring an additional 20,900 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Chembio Diagnostics by 55.4% during the second quarter. Wells Fargo & Company MN now owns 74,186 shares of the company’s stock valued at $449,000 after acquiring an additional 26,436 shares during the period. Finally, ARS Investment Partners LLC boosted its holdings in shares of Chembio Diagnostics by 29.4% during the second quarter. ARS Investment Partners LLC now owns 671,681 shares of the company’s stock valued at $4,064,000 after acquiring an additional 152,686 shares during the period. 34.07% of the stock is owned by institutional investors.
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Chembio Diagnostics Company Profile
Chembio Diagnostics, Inc (Chembio), and its subsidiary, Chembio Diagnostic Systems, Inc, develop, manufacture, market and license rapid point-of-care diagnostic tests (POCTs) that detect infectious diseases. The Company’s products available are rapid tests for the detection of human immunodeficiency virus (HIV) 1/2 antibodies, and a multiplex rapid test for the detection of HIV and Syphilis antibodies.
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