BioScrip, Inc. (BIOS) Shares Down 5.2% on Insider Selling

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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About BioScrip

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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