BioScrip, Inc. (BIOS) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of BioScrip, Inc. (NASDAQ:BIOS) from a hold rating to a buy rating in a research report sent to investors on Wednesday. Zacks Investment Research currently has $3.00 price target on the stock.
According to Zacks, “Over the last one month, BioScrip has been trading above the broader Medical Output/Homecare industry. The market is upbeat about BioScrip’s announcement to continue to offer certain core product lines to UnitedHealthcare. We are also encouraged by the company’s progress for its new multi-faceted CORE plan to improve its financial position. Further, BioScrip successfully completed the Home Solutions’ integration within the last reported first quarter. The company expects core revenues at Home Solutions and continued core growth to prove accretive going forward. On the flip side, the company's year-over-year drop in revenues due to lower-than-expected core sales volumes is discouraging. Management’s 2017 guidance, which includes the negative impact of the Cures Act legislation, also adds to our concerns.”
Separately, Barrington Research upped their price target on shares of BioScrip to $3.50 and gave the stock an outperform rating in a research note on Monday, June 26th.
Shares of BioScrip (BIOS) traded down 0.5604% on Wednesday, reaching $2.7147. 324,688 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $2.17 and its 200-day moving average price is $1.70. The company’s market capitalization is $328.43 million. BioScrip has a 1-year low of $0.98 and a 1-year high of $3.43.
BioScrip (NASDAQ:BIOS) last issued its quarterly earnings results on Thursday, May 4th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.04. The firm had revenue of $217.80 million for the quarter, compared to the consensus estimate of $230.23 million. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.17) earnings per share. Analysts anticipate that BioScrip will post ($0.38) EPS for the current fiscal year.
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Several hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in BioScrip by 1.1% in the first quarter. Wells Fargo & Company MN now owns 113,710 shares of the company’s stock valued at $193,000 after buying an additional 1,254 shares in the last quarter. Roanoke Asset Management Corp NY raised its stake in BioScrip by 2.6% in the first quarter. Roanoke Asset Management Corp NY now owns 233,280 shares of the company’s stock worth $397,000 after buying an additional 6,000 shares in the last quarter. Perkins Capital Management Inc. raised its stake in BioScrip by 4.2% in the first quarter. Perkins Capital Management Inc. now owns 310,500 shares of the company’s stock worth $528,000 after buying an additional 12,500 shares in the last quarter. Teachers Advisors LLC raised its stake in BioScrip by 14.0% in the fourth quarter. Teachers Advisors LLC now owns 162,778 shares of the company’s stock worth $169,000 after buying an additional 20,000 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in BioScrip by 5.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 488,076 shares of the company’s stock worth $830,000 after buying an additional 23,598 shares in the last quarter. 83.06% of the stock is owned by institutional investors.
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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