Zacks Investment Research Downgrades BioScrip Inc. (BIOS) to Sell
BioScrip Inc. (NASDAQ:BIOS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “BioScrip posted a year-over-year drop in revenues in the third quarter 2016 partly due to lower-than-expected core sales volumes. The lowered guidance for the full year remains another cause of concern failing to show chance of recovery no time soon. However, revenues were ahead of the Zacks Consensus Estimate. Also, net loss was much narrower than the year-ago comparable number. We are also looking forward to BioScrip’s recently acquired Home Solutions – the home infusion and nursing products business of HS Infusion Holdings. Going ahead, the combined company is expected to generate revenues of more than $1 billion. This apart, the company’s multi-faceted strategic plan should improve its financial position. This enabled it to emerge as a major player in the infusion services space. However, reimbursement pressure and a tough competitive scenario continue to pose challenges.”
Separately, Jefferies Group started coverage on BioScrip in a research note on Tuesday, November 8th. They set a “buy” rating and a $2.50 target price for the company.
Shares of BioScrip (NASDAQ:BIOS) opened at 1.39 on Monday. The firm’s market cap is $163.58 million. BioScrip has a 52 week low of $1.15 and a 52 week high of $3.43. The stock’s 50 day moving average is $2.69 and its 200-day moving average is $2.66.
BioScrip (NASDAQ:BIOS) last posted its earnings results on Monday, November 7th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by $0.07. The company earned $224.50 million during the quarter, compared to analysts’ expectations of $223.26 million. The firm’s revenue was down 9.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.38) EPS. On average, equities analysts predict that BioScrip will post ($0.39) EPS for the current fiscal year.
In other news, Director R Carter Pate acquired 20,000 shares of BioScrip stock in a transaction on Thursday, November 10th. The stock was bought at an average price of $1.30 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Credit Suisse AG boosted its stake 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 in the last quarter. D. E. Shaw & Co. Inc. boosted its stake 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 in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of BioScrip during the third quarter worth $209,000. Ardsley Advisory Partners purchased a new stake in shares of BioScrip during the third quarter worth $12,521,000. Finally, Rock Springs Capital Management LP purchased a new stake in shares of BioScrip during the third quarter worth $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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