Merrill Lynch Downgrades Cepheid to Neutral (CPHD)
Cepheid (NASDAQ:CPHD) was downgraded by equities researchers at Merrill Lynch from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, AR Network reports.
In other Cepheid news, Director Thomas Gutshall sold 3,000 shares of Cepheid stock on the open market 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 of the company’s stock, valued at approximately $3,514,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on CPHD. Analysts at Bank of America Corp. downgraded shares of Cepheid (NASDAQ:CPHD) from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday. They now have a $41.00 price target on the stock, up previously from $39.00. They noted that the move was a valuation call. Separately, 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. Finally, 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. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $40.24.
Cepheid (NASDAQ:CPHD) traded down 1.74% during mid-day trading on Tuesday, hitting $38.361. The stock had a trading volume of 186,968 shares. Cepheid has a one year low of $28.12 and a one year high of $40.31. The stock has a 50-day moving average of $37.30 and a 200-day moving average of $36.56. The company’s market cap is $2.587 billion.
Cepheid (NASDAQ:CPHD) last posted its quarterly earnings results on Thursday, July 18th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. 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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