BioScrip Inc. (BIOS) Shares Gap Up After Insider Buying Activity
BioScrip Inc. (NASDAQ:BIOS)’s share price gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $1.32, but opened at $1.36. BioScrip shares last traded at $1.40, with a volume of 4,103,637 shares traded.
Specifically, Director R Carter Pate bought 20,000 shares of the firm’s stock in a transaction on Thursday, November 10th. The stock was purchased at an average cost of $1.30 per share, with a total value of $26,000.00. Following the completion of the purchase, the director now owns 84,000 shares in the company, valued at $109,200. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.
A number of research firms have issued reports on BIOS. Zacks Investment Research cut BioScrip from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Jefferies Group began coverage on BioScrip in a research note on Tuesday, November 8th. They issued a “buy” rating and a $2.50 target price for the company.
The stock’s market cap is $163.58 million. The company’s 50 day moving average price is $2.69 and its 200 day moving average price is $2.66.
BioScrip (NASDAQ:BIOS) last announced its quarterly earnings results on Monday, November 7th. The company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.07. The firm earned $224.50 million during the quarter, compared to the consensus estimate of $223.26 million. During the same period last year, the firm earned ($0.38) EPS. The business’s revenue was down 9.2% compared to the same quarter last year. Equities research analysts anticipate that BioScrip Inc. will post ($0.39) EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Credit Suisse AG boosted its position in shares of BioScrip by 45.4% in the third quarter. Credit Suisse AG now owns 83,409 shares of the company’s stock worth $241,000 after buying an additional 26,031 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of BioScrip by 41.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 1,445,420 shares of the company’s stock worth $4,178,000 after buying an additional 422,440 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of BioScrip during the third quarter worth approximately $209,000. Ardsley Advisory Partners purchased a new position in shares of BioScrip during the third quarter worth approximately $12,521,000. Finally, Rock Springs Capital Management LP purchased a new position in shares of BioScrip during the third quarter worth approximately $4,308,000. Institutional investors own 85.85% of the company’s stock.
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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