BioScrip, Inc. (BIOS) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of BioScrip, Inc. (NASDAQ:BIOS) from a buy rating to a hold rating in a research note published on Monday.
According to Zacks, “BioScrip exited the second quarter on a dismal note with revenues missing the Zacks Consensus Estimate and adjusted net loss wider-than-expected. Management’s unimpressive 2017 guidance, which includes the negative impact of the Cures Act legislation, also adds to our concerns. Nonetheless, the market is upbeat about BioScrip’s announcement to continue to offer certain core product lines to UnitedHealthcare. We are encouraged by the company’s recent progress, courtesy of its new multi-faceted CORE plan which was adopted to improve the financial position. Further, the company achieved annualized supply chain improvement of roughly $20 million since the acquisition of Home Solutions. Over the last three months, BioScrip has been trading above the broader industry.”
Several other research firms have also recently commented on BIOS. Barrington Research raised their target price on shares of BioScrip to $3.50 and gave the company an outperform rating in a research note on Monday, June 26th. BidaskClub cut shares of BioScrip from a strong-buy rating to a buy rating in a research note on Tuesday, August 1st. SunTrust Banks, Inc. raised shares of BioScrip from a hold rating to a buy rating and raised their target price for the company from $3.25 to $3.75 in a research note on Thursday, August 10th. ValuEngine cut shares of BioScrip from a hold rating to a sell rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $4.00 price objective (up previously from $3.00) on shares of BioScrip in a research note on Thursday, August 10th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. BioScrip currently has an average rating of Buy and a consensus price target of $3.75.
BioScrip (NASDAQ:BIOS) traded up 1.33% during mid-day trading on Monday, reaching $3.04. 118,010 shares of the company were exchanged. BioScrip has a 12 month low of $0.98 and a 12 month high of $3.43. The company’s 50 day moving average price is $2.87 and its 200-day moving average price is $2.08. The stock’s market capitalization is $387.52 million.
BioScrip (NASDAQ:BIOS) last released its earnings results on Tuesday, August 8th. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. The business had revenue of $218.11 million for the quarter, compared to analysts’ expectations of $220.05 million. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.14) earnings per share. On average, equities analysts expect that BioScrip will post ($0.55) earnings per share for the current fiscal year.
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In other news, Director Coliseum Capital Management, L sold 886,478 shares of BioScrip stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $3.08, for a total value of $2,730,352.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in BIOS. Mesirow Financial Investment Management Inc. purchased a new position in shares of BioScrip during the second quarter valued at approximately $315,000. Alta Fundamental Advisers LLC boosted its position in shares of BioScrip by 36.9% in the second quarter. Alta Fundamental Advisers LLC now owns 3,035,164 shares of the company’s stock valued at $8,240,000 after buying an additional 818,000 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of BioScrip by 9.8% in the second quarter. The Manufacturers Life Insurance Company now owns 99,569 shares of the company’s stock valued at $271,000 after buying an additional 8,914 shares during the last quarter. State Street Corp boosted its position in shares of BioScrip by 10.0% in the second quarter. State Street Corp now owns 1,815,439 shares of the company’s stock valued at $4,927,000 after buying an additional 165,091 shares during the last quarter. Finally, Voya Investment Management LLC boosted its position 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. Institutional investors own 85.62% 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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