BioScrip, Inc. (NASDAQ:BIOS) shares were down 5.2% on Tuesday following insider selling activity. The company traded as low as $2.52 and last traded at $2.55. Approximately 1,091,130 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 1,537,640 shares. The stock had previously closed at $2.69.
Specifically, Director Coliseum Capital Management, L sold 2,846,941 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $2.93, for a total value of $8,341,537.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael G. Bronfein sold 27,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $2.69, for a total value of $72,630.00. Following the completion of the transaction, the director now owns 129,669 shares of the company’s stock, valued at $348,809.61. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,760,419 shares of company stock valued at $11,144,519. Insiders own 0.80% of the company’s stock.
Several research firms recently commented on BIOS. ValuEngine lowered BioScrip from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. BidaskClub lowered BioScrip from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Zacks Investment Research lowered BioScrip from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. SunTrust Banks, Inc. upgraded BioScrip from a “hold” rating to a “buy” rating and upped their target price for the company from $3.25 to $3.75 in a research note on Thursday, August 10th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $4.00 target price (up from $3.00) on shares of BioScrip in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. BioScrip presently has an average rating of “Hold” and an average price target of $3.75.
The stock’s market capitalization is $325.06 million. The company has a 50 day moving average of $2.86 and a 200 day moving average of $2.29.
BioScrip (NASDAQ:BIOS) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.01). The company had revenue of $218.11 million during the quarter, compared to analyst estimates of $220.05 million. During the same period last year, the company posted ($0.14) EPS. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. Equities research analysts anticipate that BioScrip, Inc. will post ($0.55) EPS for the current fiscal year.
Several large investors have recently made changes to their positions in BIOS. Teachers Advisors LLC raised its holdings in shares of BioScrip by 14.0% during the fourth quarter. Teachers Advisors LLC now owns 162,778 shares of the company’s stock worth $169,000 after acquiring an additional 20,000 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of BioScrip by 1.1% during the first quarter. Wells Fargo & Company MN now owns 113,710 shares of the company’s stock worth $193,000 after acquiring an additional 1,254 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of BioScrip by 7.6% during the first quarter. Bank of New York Mellon Corp now owns 475,844 shares of the company’s stock worth $809,000 after acquiring an additional 33,453 shares in the last quarter. Alambic Investment Management L.P. purchased a new stake in shares of BioScrip during the first quarter worth $160,000. Finally, American International Group Inc. raised its holdings in shares of BioScrip by 73.8% during the first quarter. American International Group Inc. now owns 67,812 shares of the company’s stock worth $115,000 after acquiring an additional 28,787 shares in the last quarter. Institutional investors and hedge funds own 84.05% of the company’s stock.
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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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