Cepheid Downgraded to “Neutral” at Bank of America Corp. (CPHD)
Cepheid (NASDAQ:CPHD) was downgraded by research analysts at Bank of America Corp. from a “buy” rating to a “neutral” rating in a report released on Tuesday, TheFlyOnTheWall.com reports. They currently have a $41.00 target price on the stock, up from their previous target price of $39.00. Bank of America Corp.’s target price would suggest a potential upside of 5.02% from the company’s current price. The analysts noted that the move was a valuation call.
In other Cepheid news, Director Thomas Gutshall sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $38.97, for a total transaction of $116,910.00. Following the transaction, the director now directly owns 90,175 shares in the company, valued at approximately $3,514,120. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
A number of other firms have also recently commented on CPHD. Analysts at UBS AG reiterated a “buy” rating on shares of Cepheid (NASDAQ:CPHD) in a research note to investors on Thursday, September 5th. They now have a $40.00 price target on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Cepheid (NASDAQ:CPHD) from $39.00 to $42.00 in a research note to investors on Thursday, September 5th. They now have an “outperform” rating on the stock. Finally, analysts at Wedbush reiterated a “buy” rating on shares of Cepheid (NASDAQ:CPHD) in a research note to investors on Monday, August 19th. They now have a $37.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $40.24.
Cepheid (NASDAQ:CPHD) traded down 1.20% during mid-day trading on Tuesday, hitting $38.57. 99,492 shares of the company’s stock traded hands. Cepheid has a 52 week low of $28.12 and a 52 week high of $40.31. The stock’s 50-day moving average is $37.30 and its 200-day moving average is $36.56. The company’s market cap is $2.602 billion.
Cepheid (NASDAQ:CPHD) last announced its earnings results on Thursday, July 18th. The company reported $0.02 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.04 by $0.02. The company had revenue of $96.00 million for the quarter, compared to the consensus estimate of $92.57 million. During the same quarter last year, the company posted $0.11 earnings per share. Cepheid’s revenue was up 18.5% compared to the same quarter last year. On average, analysts predict that Cepheid will post $-0.26 earnings per share for the current fiscal year.
Cepheid is a molecular diagnostics company that develops, manufactures and markets fully-integrated systems for testing in the Clinical market, as well as for application in its legacy Non-Clinical market.
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