Standard BioTools (NASDAQ:LAB) Issues Earnings Results, Beats Expectations By $0.35 EPS

Standard BioTools (NASDAQ:LAB) released its quarterly earnings data on Tuesday. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.35, FiscalAI reports. The business had revenue of $21.15 million during the quarter, compared to the consensus estimate of $17.80 million. Standard BioTools had a negative return on equity of 11.21% and a negative net margin of 59.39%.

Standard BioTools Stock Up 4.7%

NASDAQ LAB traded up $0.04 on Tuesday, reaching $0.98. The company had a trading volume of 2,161,237 shares, compared to its average volume of 2,222,615. The stock’s 50 day moving average is $0.97 and its 200-day moving average is $1.22. The stock has a market cap of $382.17 million, a price-to-earnings ratio of -4.89 and a beta of 1.32. Standard BioTools has a 52 week low of $0.87 and a 52 week high of $1.72.

Analysts Set New Price Targets

LAB has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Standard BioTools from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings upgraded Standard BioTools from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, April 24th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Standard BioTools has a consensus rating of “Reduce” and a consensus price target of $1.35.

Institutional Investors Weigh In On Standard BioTools

Several large investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its holdings in shares of Standard BioTools by 50.3% in the second quarter. BNP Paribas Financial Markets now owns 29,826 shares of the company’s stock worth $36,000 after acquiring an additional 9,986 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Standard BioTools by 4.4% in the fourth quarter. Deutsche Bank AG now owns 255,851 shares of the company’s stock worth $327,000 after acquiring an additional 10,824 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Standard BioTools by 9.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 172,134 shares of the company’s stock worth $221,000 after acquiring an additional 14,592 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Standard BioTools by 70.2% in the second quarter. Cerity Partners LLC now owns 37,501 shares of the company’s stock worth $45,000 after acquiring an additional 15,470 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Standard BioTools by 72.7% in the second quarter. Prudential Financial Inc. now owns 39,307 shares of the company’s stock worth $47,000 after acquiring an additional 16,541 shares in the last quarter. 53.74% of the stock is currently owned by institutional investors.

Standard BioTools Company Profile

Standard BioTools, Inc (NASDAQ: LAB), formerly known as Fluidigm Corporation, is a life sciences tools company that develops and commercializes high-parameter, single-cell and spatial biology solutions. The company’s platforms integrate microfluidics, mass cytometry, sequencing and imaging to enable researchers to probe cellular heterogeneity, molecular interactions and complex tissue architecture. Its end users span academic institutions, pharmaceutical and biotechnology companies worldwide.

The company’s flagship products include mass cytometry systems—such as the Helios and Hyperion Imaging System—for multiplexed protein analysis at single-cell resolution, and the Chromium-style single-cell genomic tools for high-throughput gene expression profiling.