Zacks Investment Research upgraded shares of BioScrip, Inc. (NASDAQ:BIOS) from a hold rating to a buy rating in a research report sent to investors on Wednesday, July 5th. The brokerage currently has $3.00 target price on the stock.
According to Zacks, “Over the last one month, BioScrip has been trading above the broader Medical Output/Homecare industry. The market is upbeat about BioScrip’s announcement to continue to offer certain core product lines to UnitedHealthcare. We are also encouraged by the company’s progress for its new multi-faceted CORE plan to improve its financial position. Further, BioScrip successfully completed the Home Solutions’ integration within the last reported first quarter. The company expects core revenues at Home Solutions and continued core growth to prove accretive going forward. On the flip side, the company's year-over-year drop in revenues due to lower-than-expected core sales volumes is discouraging. Management’s 2017 guidance, which includes the negative impact of the Cures Act legislation, also adds to our concerns.”
Separately, Barrington Research raised their price objective on BioScrip to $3.50 and gave the company an outperform rating in a research note on Monday, June 26th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. BioScrip presently has a consensus rating of Buy and a consensus target price of $3.50.
BioScrip (NASDAQ:BIOS) traded down 2.44% during mid-day trading on Wednesday, reaching $2.80. 551,502 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 market cap is $338.75 million. The stock’s 50-day moving average is $2.74 and its 200-day moving average is $1.94.
BioScrip (NASDAQ:BIOS) last issued its quarterly earnings data on Thursday, May 4th. The company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.04. The company had revenue of $217.80 million during the quarter, compared to analyst estimates of $230.23 million. During the same quarter last year, the firm earned ($0.17) earnings per share. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. Equities analysts expect that BioScrip will post ($0.38) earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of BioScrip by 65.8% in the first quarter. Goldman Sachs Group Inc. now owns 64,257 shares of the company’s stock valued at $109,000 after buying an additional 25,500 shares in the last quarter. American International Group Inc. increased its position in shares of BioScrip by 73.8% in the first quarter. American International Group Inc. now owns 67,812 shares of the company’s stock valued at $115,000 after buying an additional 28,787 shares in the last quarter. Alambic Investment Management L.P. acquired a new position in shares of BioScrip during the first quarter valued at approximately $160,000. Citadel Advisors LLC acquired a new position in shares of BioScrip during the first quarter valued at approximately $161,000. Finally, Teachers Advisors LLC increased its position in shares of BioScrip by 14.0% in the fourth quarter. Teachers Advisors LLC now owns 162,778 shares of the company’s stock valued at $169,000 after buying an additional 20,000 shares in the last quarter. 83.06% of the stock is currently owned by institutional investors.
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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