Fluidigm (FLDM) Lowered to “Hold” at Zacks Investment Research

Fluidigm (NASDAQ:FLDM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Fluidigm Corporation operates as a biotech tools company that creates microfluidic-based chips and instrumentation for biological research. Products offered by the Company include BioMark HD System- a real time PCR; EP1 system for SNP genotyping; Access Array System-an Integrated Fluidic Circuit (IFC); TOPAZ system for protein crystallography; Dynamic Array integrated fluidic circuits (IFCs); and Access Array Assay Design Services. The Company’s products find its application in Gene Expression, Single-Cell Gene Expression, SNP Genotyping, Targeted Resequencing, Sample Quantitation, Copy Number Variation and Protein Crystallization. Fluidigm Corporation is based in San Francisco, California. “

Several other research analysts have also recently commented on FLDM. BidaskClub cut shares of Fluidigm from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. Piper Jaffray Companies raised their target price on shares of Fluidigm from $10.00 to $14.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. BTIG Research started coverage on shares of Fluidigm in a report on Wednesday, March 13th. They issued a “buy” rating and a $15.00 target price for the company. Finally, UBS Group began coverage on shares of Fluidigm in a report on Friday, March 15th. They issued a “neutral” rating and a $14.00 target price for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $14.50.

Shares of FLDM opened at $12.08 on Tuesday. Fluidigm has a one year low of $4.65 and a one year high of $14.90. The stock has a market capitalization of $833.76 million, a price-to-earnings ratio of -15.10 and a beta of 2.40. The company has a quick ratio of 2.86, a current ratio of 3.26 and a debt-to-equity ratio of 0.30.

Fluidigm (NASDAQ:FLDM) last announced its earnings results on Thursday, May 2nd. The medical research company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.30). Fluidigm had a negative return on equity of 43.75% and a negative net margin of 60.45%. The firm had revenue of $30.10 million during the quarter, compared to analyst estimates of $29.18 million. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. As a group, analysts anticipate that Fluidigm will post -0.5 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC lifted its position in shares of Fluidigm by 0.5% in the third quarter. Neuberger Berman Group LLC now owns 4,535,180 shares of the medical research company’s stock worth $33,971,000 after purchasing an additional 24,186 shares in the last quarter. Eversept Partners LP purchased a new stake in shares of Fluidigm in the fourth quarter worth approximately $435,000. Acadian Asset Management LLC lifted its position in shares of Fluidigm by 13.2% in the fourth quarter. Acadian Asset Management LLC now owns 538,749 shares of the medical research company’s stock worth $4,643,000 after purchasing an additional 62,686 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Fluidigm in the fourth quarter worth approximately $483,000. Finally, Millennium Management LLC lifted its position in shares of Fluidigm by 171.1% in the fourth quarter. Millennium Management LLC now owns 932,996 shares of the medical research company’s stock worth $8,042,000 after purchasing an additional 588,862 shares in the last quarter. 71.44% of the stock is owned by institutional investors and hedge funds.

Fluidigm Company Profile

Fluidigm Corporation creates, manufactures, and markets technologies and tools for life sciences research in the United States and Europe. It offers analytical systems comprising Helios, a CyTOF system, Hyperion imaging system, and Hyperion tissue imager; and assays and reagents, including Maxpar reagents and Maxpar human immune monitoring panel kit and workflow.

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