BioScrip, Inc. (BIOS) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research downgraded shares of BioScrip, Inc. (NASDAQ:BIOS) from a hold rating to a sell rating in a report released on Tuesday morning.
According to Zacks, “BioScrip exited the third quarter on a dismal note, with earnings and revenues missing the Zacks Consensus Estimate. We are encouraged by the company’s recent progress, courtesy of its new multi-faceted CORE plan to improve the financial position. We are also upbeat about the company’s completion of the UnitedHealthcare contract transition and expectations of strong core revenue growth. Accordingly, over the last six months, BioScrip has been trading above the broader industry. On the flip side, a competitive landscape continues to be a major dampener. Also, management’s slashed guidance for 2017 adds to our concerns.”
Several other equities research analysts have also issued reports on the stock. SunTrust Banks, Inc. restated a buy rating and issued a $3.00 target price on shares of BioScrip in a report on Friday, November 3rd. ValuEngine lowered shares of BioScrip from a hold rating to a sell rating in a report on Tuesday, August 22nd. BidaskClub lowered shares of BioScrip from a buy rating to a hold rating in a report on Thursday, August 17th. Finally, Jefferies Group LLC restated a buy rating and issued a $4.00 target price (up previously from $3.00) on shares of BioScrip in a report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. BioScrip currently has a consensus rating of Hold and a consensus target price of $3.60.
Shares of BioScrip (BIOS) traded up $0.03 during trading hours on Tuesday, hitting $2.11. 781,985 shares of the company’s stock were exchanged, compared to its average volume of 1,000,000. The company has a debt-to-equity ratio of -6.11, a current ratio of 1.91 and a quick ratio of 1.60. BioScrip has a 1-year low of $0.98 and a 1-year high of $3.39.
BioScrip (NASDAQ:BIOS) last released its earnings results on Thursday, November 2nd. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.02). The firm had revenue of $198.70 million for the quarter, compared to analysts’ expectations of $202.91 million. The company’s revenue was down 11.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.12) EPS. research analysts expect that BioScrip will post -0.63 EPS for the current fiscal year.
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In related news, Director Coliseum Capital Management, L sold 2,846,941 shares of BioScrip stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $2.93, for a total transaction of $8,341,537.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael G. Bronfein sold 27,000 shares of BioScrip stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $2.69, for a total transaction of $72,630.00. Following the sale, the director now owns 129,669 shares of the company’s stock, valued at approximately $348,809.61. The disclosure for this sale can be found here. Insiders have sold a total of 3,760,419 shares of company stock valued at $11,144,519 in the last quarter. 0.80% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its holdings in BioScrip by 40.9% during the 3rd quarter. Wells Fargo & Company MN now owns 161,814 shares of the company’s stock valued at $445,000 after buying an additional 47,004 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in BioScrip during the 3rd quarter valued at about $1,642,000. Dynamic Technology Lab Private Ltd bought a new stake in BioScrip during the 3rd quarter valued at about $114,000. Gilder Gagnon Howe & Co. LLC lifted its holdings in BioScrip by 3.6% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 15,764,337 shares of the company’s stock valued at $43,352,000 after buying an additional 553,201 shares in the last quarter. Finally, Skylands Capital LLC bought a new stake in BioScrip during the 3rd quarter valued at about $272,000. Institutional investors own 83.67% 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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