Chembio Diagnostics, Inc. (NASDAQ:CEMI) – Equities research analysts at Zacks Investment Research lifted their FY2018 earnings per share estimates for Chembio Diagnostics in a research report issued on Wednesday. Zacks Investment Research analyst B. Marckx now expects that the company will post earnings per share of ($0.23) for the year, up from their prior estimate of ($0.27). Zacks Investment Research also issued estimates for Chembio Diagnostics’ FY2019 earnings at ($0.11) EPS.

Shares of Chembio Diagnostics (NASDAQ CEMI) traded up $0.25 during mid-day trading on Monday, reaching $7.30. The company’s stock had a trading volume of 8,828 shares, compared to its average volume of 21,072. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.54 and a quick ratio of 2.19. Chembio Diagnostics has a 52-week low of $5.05 and a 52-week high of $7.60.

A number of hedge funds have recently modified their holdings of the business. Benchmark Capital Advisors lifted its stake in Chembio Diagnostics by 174.2% during the third quarter. Benchmark Capital Advisors now owns 32,900 shares of the company’s stock worth $204,000 after purchasing an additional 20,900 shares during the last quarter. Royce & Associates LP bought a new stake in Chembio Diagnostics during the second quarter worth about $132,000. Goldman Sachs Group Inc. bought a new stake in Chembio Diagnostics during the second quarter worth about $151,000. Wells Fargo & Company MN increased its holdings in shares of Chembio Diagnostics by 55.4% in the second quarter. Wells Fargo & Company MN now owns 74,186 shares of the company’s stock worth $449,000 after buying an additional 26,436 shares during the period. Finally, ARS Investment Partners LLC increased its holdings in shares of Chembio Diagnostics by 29.4% in the second quarter. ARS Investment Partners LLC now owns 671,681 shares of the company’s stock worth $4,064,000 after buying an additional 152,686 shares during the period. 34.07% of the stock is owned by hedge funds and other institutional investors.

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Chembio Diagnostics Company Profile

Chembio Diagnostics, Inc (Chembio), and its subsidiary, Chembio Diagnostic Systems, Inc, develop, manufacture, market and license rapid point-of-care diagnostic tests (POCTs) that detect infectious diseases. The Company’s products available are rapid tests for the detection of human immunodeficiency virus (HIV) 1/2 antibodies, and a multiplex rapid test for the detection of HIV and Syphilis antibodies.

Earnings History and Estimates for Chembio Diagnostics (NASDAQ:CEMI)

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