BioScrip Inc (BIOS) Receives Buy Rating from SunTrust Banks, Inc.
BioScrip Inc (NASDAQ:BIOS)‘s stock had its “buy” rating restated by equities researchers at SunTrust Banks, Inc. in a research note issued on Friday. They currently have a $3.00 price target on the stock. SunTrust Banks, Inc.’s price target suggests a potential upside of 44.93% from the stock’s previous close. SunTrust Banks also issued estimates for BioScrip’s Q4 2017 earnings at ($0.04) EPS, Q1 2018 earnings at ($0.06) EPS, Q2 2018 earnings at ($0.05) EPS, Q3 2018 earnings at ($0.03) EPS, Q4 2018 earnings at ($0.01) EPS, FY2018 earnings at ($0.16) EPS, Q1 2019 earnings at ($0.04) EPS, Q2 2019 earnings at ($0.03) EPS, Q3 2019 earnings at ($0.02) EPS and FY2019 earnings at ($0.09) EPS.
BIOS has been the topic of several other research reports. ValuEngine raised BioScrip from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Jefferies Group LLC reaffirmed a “buy” rating and set a $4.00 target price (up previously from $3.00) on shares of BioScrip in a research note on Thursday, August 10th. Zacks Investment Research cut BioScrip from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Finally, BidaskClub cut BioScrip from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $3.60.
Shares of BioScrip (BIOS) opened at $2.07 on Friday. BioScrip has a 12-month low of $0.98 and a 12-month high of $3.39. The company has a current ratio of 1.85, a quick ratio of 1.57 and a debt-to-equity ratio of -7.49.
BioScrip (NASDAQ:BIOS) last released its earnings results on Thursday, November 2nd. The company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.02). The business had revenue of $198.70 million during the quarter, compared to the consensus estimate of $202.91 million. During the same quarter in the previous year, the business posted ($0.12) earnings per share. BioScrip’s quarterly revenue was down 11.5% on a year-over-year basis. sell-side analysts predict that BioScrip will post -0.55 earnings per share for the current year.
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In related news, Director Coliseum Capital Management, L sold 2,846,941 shares of the business’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael G. Bronfein sold 27,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were 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 of the company’s stock, valued at approximately $348,809.61. The disclosure for this sale can be found here. In the last three months, insiders sold 3,760,419 shares of company stock valued at $11,144,519. 0.80% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in BIOS. Gilder Gagnon Howe & Co. LLC grew its stake in shares of BioScrip by 248.4% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 15,211,136 shares of the company’s stock valued at $41,298,000 after buying an additional 10,845,410 shares in the last quarter. FMR LLC lifted its holdings in BioScrip by 36.1% in the 1st quarter. FMR LLC now owns 4,803,000 shares of the company’s stock worth $8,165,000 after purchasing an additional 1,273,205 shares during the last quarter. Alta Fundamental Advisers LLC lifted its holdings in BioScrip by 36.9% in the 2nd quarter. Alta Fundamental Advisers LLC now owns 3,035,164 shares of the company’s stock worth $8,240,000 after purchasing an additional 818,000 shares during the last quarter. California Public Employees Retirement System lifted its holdings in BioScrip by 37.5% in the 1st quarter. California Public Employees Retirement System now owns 663,700 shares of the company’s stock worth $1,128,000 after purchasing an additional 181,000 shares during the last quarter. Finally, Roanoke Asset Management Corp NY lifted its holdings in BioScrip by 72.9% in the 2nd quarter. Roanoke Asset Management Corp NY now owns 403,280 shares of the company’s stock worth $1,095,000 after purchasing an additional 170,000 shares during the last quarter. 84.49% of the stock is owned by institutional investors and hedge funds.
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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