BioScrip Inc (BIOS) Sees Large Decline in Short Interest
BioScrip Inc (NASDAQ:BIOS) was the target of a significant decrease in short interest in September. As of September 29th, there was short interest totalling 13,005,531 shares, a decrease of 19.6% from the September 15th total of 16,176,982 shares. Based on an average daily volume of 982,156 shares, the days-to-cover ratio is currently 13.2 days. Currently, 10.3% of the company’s stock are short sold.
Shares of BioScrip (NASDAQ:BIOS) opened at 2.61 on Friday. BioScrip has a 1-year low of $0.98 and a 1-year high of $3.39. The company’s 50 day moving average is $2.76 and its 200-day moving average is $2.37. The stock’s market capitalization is $332.71 million.
BioScrip (NASDAQ:BIOS) last announced its earnings results on Tuesday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm posted ($0.14) earnings per share. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. Equities analysts anticipate that BioScrip will post ($0.55) earnings per share for the current fiscal year.
Several brokerages have recently issued reports on BIOS. ValuEngine raised shares of BioScrip from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and set a $4.00 price target (up previously from $3.00) on shares of BioScrip in a research report on Thursday, August 10th. Zacks Investment Research cut shares of BioScrip from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. BidaskClub cut shares of BioScrip from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, SunTrust Banks, Inc. raised shares of BioScrip from a “hold” rating to a “buy” rating and increased their price target for the stock from $3.25 to $3.75 in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $3.75.
In other news, Director Michael G. Bronfein sold 27,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $2.69, for a total transaction of $72,630.00. Following the sale, the director now owns 129,669 shares of the company’s stock, valued at $348,809.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Coliseum Capital Management, L sold 2,846,941 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $2.93, for a total transaction of $8,341,537.13. The disclosure for this sale can be found here. Insiders have sold 3,760,419 shares of company stock worth $11,144,519 in the last three months. Corporate insiders own 0.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC grew its stake in BioScrip by 248.4% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 15,211,136 shares of the company’s stock worth $41,298,000 after buying an additional 10,845,410 shares during the last quarter. FMR LLC boosted its position in BioScrip by 10.8% during the 2nd quarter. FMR LLC now owns 5,323,231 shares of the company’s stock worth $14,453,000 after acquiring an additional 520,231 shares during the period. Vanguard Group Inc. boosted its position in BioScrip by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,495,029 shares of the company’s stock worth $12,204,000 after acquiring an additional 146,980 shares during the period. Wynnefield Capital Inc. boosted its position in BioScrip by 2.7% during the 1st quarter. Wynnefield Capital Inc. now owns 3,800,000 shares of the company’s stock worth $6,460,000 after acquiring an additional 100,000 shares during the period. Finally, Alta Fundamental Advisers LLC boosted its position in BioScrip by 36.9% during the 2nd quarter. Alta Fundamental Advisers LLC now owns 3,035,164 shares of the company’s stock worth $8,240,000 after acquiring an additional 818,000 shares during the period. Institutional investors and hedge funds own 84.77% of the company’s stock.
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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