Zacks Investment Research upgraded shares of BioScrip (NASDAQ:BIOS) from a sell rating to a hold rating in a report published on Tuesday morning.

According to Zacks, “BioScrip concluded the second quarter on a mixed note. Although revenues beat the consensus mark, the massive year-over-year decline was a dampener. Additionally, quarterly loss was wider than the Zacks Consensus Estimate. According to the company, revenues were affected by the impact of higher core product mix, including contract changes with UnitedHealthcare, and the impact of implementing ASC 606 in 2018. Over the past six months, BioScrip has underperformed the industry.Nonetheless, we are encouraged by the company’s progress in the second quarter, courtesy of its new multi-faceted CORE plan to improve its financial position. The company also expects to earn core revenues at Home Solutions and witness continued core growth. The company also took certain rigorous steps to revitalize its sales force in the reported quarter. These developments should further drive business growth in 2018.”

Other equities research analysts have also issued research reports about the stock. BidaskClub upgraded shares of BioScrip from a hold rating to a buy rating in a report on Friday, June 22nd. Barrington Research restated a buy rating and issued a $4.00 price target on shares of BioScrip in a report on Wednesday, August 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $3.56.

NASDAQ:BIOS opened at $2.74 on Tuesday. BioScrip has a one year low of $1.80 and a one year high of $3.26. The company has a debt-to-equity ratio of -4.21, a current ratio of 1.91 and a quick ratio of 1.60. The stock has a market capitalization of $396.94 million, a PE ratio of -6.23 and a beta of 0.07.

BioScrip (NASDAQ:BIOS) last posted its quarterly earnings results on Tuesday, August 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.04). The firm had revenue of $175.79 million for the quarter, compared to analyst estimates of $169.00 million. Research analysts forecast that BioScrip will post -0.32 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY raised its stake in shares of BioScrip by 77.3% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 45,013 shares of the company’s stock worth $132,000 after acquiring an additional 19,625 shares in the last quarter. MetLife Investment Advisors LLC raised its stake in shares of BioScrip by 220.8% during the 2nd quarter. MetLife Investment Advisors LLC now owns 64,727 shares of the company’s stock worth $190,000 after acquiring an additional 44,548 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its stake in shares of BioScrip by 24.3% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 114,541 shares of the company’s stock worth $336,000 after acquiring an additional 22,382 shares in the last quarter. Sei Investments Co. raised its stake in shares of BioScrip by 1,826.1% during the 2nd quarter. Sei Investments Co. now owns 124,024 shares of the company’s stock worth $363,000 after acquiring an additional 117,585 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of BioScrip by 16.9% during the 2nd quarter. Rhumbline Advisers now owns 126,878 shares of the company’s stock worth $372,000 after acquiring an additional 18,372 shares in the last quarter. Institutional investors and hedge funds own 84.87% of the company’s stock.

About BioScrip

BioScrip, Inc provides infusion solutions in the United States. It engages in the preparation, delivery, administration, and clinical monitoring of pharmaceutical treatments that are administered to a patient through intravenous, subcutaneous, intramuscular, intra-spinal, and enteral methods. The company is primarily involved in the intravenous administration of medications to treat a range of acute and chronic conditions, such as infections, nutritional deficiencies, immunologic and neurologic disorders, cancer, pain, and palliative care.

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