FY2016 EPS Estimates for TearLab Corp. Decreased by Analyst (TEAR)
TearLab Corp. (NASDAQ:TEAR) – Stock analysts at Feltl & Co. cut their FY2016 earnings estimates for shares of TearLab Corp. in a research note issued to investors on Tuesday. Feltl & Co. analyst B. Haynor now expects that the firm will post earnings per share of ($0.44) for the year, down from their prior estimate of ($0.41). Feltl & Co. also issued estimates for TearLab Corp.’s Q4 2016 earnings at ($0.09) EPS and FY2017 earnings at ($0.23) EPS.
TEAR has been the subject of a number of other reports. Rodman & Renshaw reissued a “buy” rating and issued a $2.00 price objective on shares of TearLab Corp. in a research note on Friday, August 5th. Zacks Investment Research raised shares of TearLab Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 22nd. HC Wainwright reissued a “buy” rating and issued a $2.00 price objective on shares of TearLab Corp. in a research note on Sunday, October 16th. Finally, Roth Capital cut shares of TearLab Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, August 4th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $1.75.
TearLab Corp. (NASDAQ:TEAR) opened at 0.57 on Friday. The firm has a 50 day moving average of $0.63 and a 200-day moving average of $0.72. The stock’s market cap is $30.15 million. TearLab Corp. has a 52-week low of $0.53 and a 52-week high of $1.80.
TearLab Corp. (NASDAQ:TEAR) last issued its earnings results on Monday, November 7th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The business earned $20.90 million during the quarter, compared to analysts’ expectations of $7.13 million. During the same quarter in the previous year, the business earned ($0.24) EPS. TearLab Corp.’s revenue for the quarter was up 9.1% compared to the same quarter last year.
Institutional investors have recently modified their holdings of the company. AWM Investment Company Inc. bought a new position in shares of TearLab Corp. during the second quarter worth $3,377,000. Sabby Management LLC acquired a new position in TearLab Corp. during the second quarter valued at approximately $1,205,000. Perkins Capital Management Inc. raised its position in TearLab Corp. by 5.3% in the third quarter. Perkins Capital Management Inc. now owns 1,848,242 shares of the company’s stock valued at $1,201,000 after buying an additional 93,000 shares during the period. First Light Asset Management LLC raised its position in TearLab Corp. by 0.4% in the second quarter. First Light Asset Management LLC now owns 3,760,430 shares of the company’s stock valued at $2,407,000 after buying an additional 14,267 shares during the period. Finally, Vanguard Group Inc. raised its position in TearLab Corp. by 0.4% in the second quarter. Vanguard Group Inc. now owns 825,984 shares of the company’s stock valued at $528,000 after buying an additional 3,100 shares during the period. Hedge funds and other institutional investors own 38.50% of the company’s stock.
About TearLab Corp.
TearLab Corporation is an in-vitro diagnostic company. The Company has commercialized a tear testing platform, the TearLab Osmolarity System, which enables eye care practitioners to test for sensitive and specific biomarkers using nanoliters of tear film at the point-of-care. The Company, through its subsidiary TearLab Research, Inc, develops technologies to enable eye care practitioners to test a range of biomarkers (chemistries, metabolites, genes and proteins) at the point-of-care.
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