$203.04 Million in Sales Expected for BioScrip, Inc. (BIOS) This Quarter
Wall Street brokerages expect BioScrip, Inc. (NASDAQ:BIOS) to announce $203.04 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for BioScrip’s earnings, with estimates ranging from $197.60 million to $209.77 million. BioScrip posted sales of $224.54 million during the same quarter last year, which suggests a negative year over year growth rate of 9.6%. The business is expected to announce its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that BioScrip will report full year sales of $203.04 million for the current fiscal year, with estimates ranging from $819.83 million to $829.80 million. For the next year, analysts anticipate that the business will report sales of $761.15 million per share, with estimates ranging from $728.39 million to $783.15 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow BioScrip.
BioScrip (NASDAQ:BIOS) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.01). The business had revenue of $218.11 million during the quarter, compared to the consensus estimate of $220.05 million. During the same quarter last year, the business posted ($0.14) EPS. BioScrip’s revenue for the quarter was down 6.2% compared to the same quarter last year.
Several analysts recently weighed in on BIOS shares. Barrington Research boosted their price objective on BioScrip to $3.50 and gave the company an “outperform” rating in a report on Monday, June 26th. BidaskClub lowered BioScrip from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research raised BioScrip from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. SunTrust Banks, Inc. raised 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 report on Thursday, August 10th. Finally, ValuEngine raised BioScrip from a “sell” rating to a “hold” rating in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. BioScrip presently has a consensus rating of “Hold” and a consensus price target of $3.75.
In other BioScrip news, Director Michael G. Bronfein sold 27,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $2.69, for a total value of $72,630.00. Following the completion of the sale, the director now directly owns 129,669 shares in the company, valued at $348,809.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Coliseum Capital Management, L sold 2,846,941 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,760,419 shares of company stock valued at $11,144,519. Insiders own 0.80% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its position in BioScrip by 1.0% in the second quarter. Wells Fargo & Company MN now owns 114,810 shares of the company’s stock worth $312,000 after purchasing an additional 1,100 shares during the period. Schwab Charles Investment Management Inc. lifted its position in BioScrip by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 490,698 shares of the company’s stock worth $1,333,000 after purchasing an additional 2,622 shares during the period. The Manufacturers Life Insurance Company lifted its position in BioScrip by 9.8% in the second quarter. The Manufacturers Life Insurance Company now owns 99,569 shares of the company’s stock worth $271,000 after purchasing an additional 8,914 shares during the period. Rhumbline Advisers lifted its position in BioScrip by 9.2% in the second quarter. Rhumbline Advisers now owns 130,122 shares of the company’s stock worth $353,000 after purchasing an additional 10,985 shares during the period. Finally, Sheets Smith Wealth Management lifted its position in BioScrip by 13.4% in the second quarter. Sheets Smith Wealth Management now owns 125,328 shares of the company’s stock worth $340,000 after purchasing an additional 14,820 shares during the period. Hedge funds and other institutional investors own 84.05% of the company’s stock.
Shares of BioScrip (NASDAQ:BIOS) traded up 1.458% during mid-day trading on Thursday, hitting $2.435. The company had a trading volume of 516,600 shares. The stock’s market cap is $310.40 million. BioScrip has a 52-week low of $0.98 and a 52-week high of $3.43. The stock’s 50-day moving average is $2.86 and its 200-day moving average is $2.29.
BioScrip Company Profile
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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