BioScrip, Inc. (BIOS) Sees Significant Decline in Short Interest

BioScrip, Inc. (NASDAQ:BIOS) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 18,783,163 shares, a decrease of 11.6% from the August 15th total of 21,241,640 shares. Based on an average daily trading volume, of 2,028,727 shares, the short-interest ratio is currently 9.3 days. Currently, 14.8% of the shares of the stock are sold short.

Shares of BioScrip (BIOS) opened at 2.66 on Friday. The company’s market capitalization is $339.08 million. The firm’s 50-day moving average price is $2.88 and its 200 day moving average price is $2.25. BioScrip has a one year low of $0.98 and a one year high of $3.43.

BioScrip (NASDAQ:BIOS) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.01). The firm had revenue of $218.11 million during the quarter, compared to analysts’ expectations of $220.05 million. During the same quarter last year, the firm earned ($0.14) earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. Analysts anticipate that BioScrip will post ($0.55) earnings per share for the current year.

In related news, Director Coliseum Capital Management, L sold 886,478 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $3.08, for a total transaction of $2,730,352.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.80% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the stock. Mesirow Financial Investment Management Inc. acquired a new position in shares of BioScrip in the second quarter worth approximately $315,000. Alta Fundamental Advisers LLC lifted its stake 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 worth $8,240,000 after acquiring an additional 818,000 shares during the period. The Manufacturers Life Insurance Company lifted its stake 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 worth $271,000 after acquiring an additional 8,914 shares during the period. State Street Corp lifted its stake 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 worth $4,927,000 after acquiring an additional 165,091 shares during the period. Finally, Voya Investment Management LLC lifted its stake 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 worth $138,000 after acquiring an additional 14,867 shares during the period. 84.15% of the stock is currently owned by institutional investors.

Several brokerages recently issued reports on BIOS. ValuEngine upgraded shares of BioScrip from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. BidaskClub downgraded shares of BioScrip from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of BioScrip from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. SunTrust Banks, Inc. upgraded shares of BioScrip from a “hold” rating to a “buy” rating and upped their price target for the stock from $3.25 to $3.75 in a research report on Thursday, August 10th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $4.00 price target (up previously from $3.00) on shares of BioScrip in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $3.75.

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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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