Zacks: Brokerages Expect Fluidigm Co. (FLDM) Will Announce Quarterly Sales of $30.88 Million

Brokerages forecast that Fluidigm Co. (NASDAQ:FLDM) will post sales of $30.88 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Fluidigm’s earnings, with estimates ranging from $30.40 million to $31.36 million. Fluidigm posted sales of $27.75 million during the same quarter last year, which suggests a positive year over year growth rate of 11.3%. The business is scheduled to issue its next earnings report on Thursday, February 14th.

According to Zacks, analysts expect that Fluidigm will report full year sales of $110.43 million for the current year, with estimates ranging from $108.20 million to $112.00 million. For the next year, analysts expect that the company will post sales of $125.79 million, with estimates ranging from $122.50 million to $130.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Fluidigm.

Fluidigm (NASDAQ:FLDM) last posted its earnings results on Thursday, November 1st. The medical research company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.20). Fluidigm had a negative net margin of 50.46% and a negative return on equity of 86.00%. The company had revenue of $28.96 million during the quarter, compared to analyst estimates of $27.50 million.

FLDM has been the subject of a number of recent research reports. Zacks Investment Research upgraded Fluidigm from a “sell” rating to a “hold” rating in a research note on Thursday, September 13th. BidaskClub lowered Fluidigm from a “buy” rating to a “hold” rating in a research note on Friday, September 28th. Finally, Piper Jaffray Companies upgraded Fluidigm from a “neutral” rating to an “overweight” rating in a research note on Friday, November 2nd.

FLDM stock opened at $8.26 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.85 and a debt-to-equity ratio of 7.56. Fluidigm has a 1 year low of $4.65 and a 1 year high of $8.69. The stock has a market capitalization of $325.59 million, a PE ratio of -6.94 and a beta of 2.84.

In other Fluidigm news, insider Levin Capital Strategies, L.P. purchased 34,896 shares of Fluidigm stock in a transaction that occurred on Tuesday, October 9th. The stock was purchased at an average price of $7.29 per share, with a total value of $254,391.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 122,180 shares of company stock valued at $910,163 in the last three months. 2.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Levin Capital Strategies L.P. boosted its holdings in Fluidigm by 5.1% in the second quarter. Levin Capital Strategies L.P. now owns 10,208,322 shares of the medical research company’s stock valued at $60,842,000 after purchasing an additional 492,914 shares during the last quarter. Primecap Management Co. CA boosted its holdings in Fluidigm by 1.1% in the third quarter. Primecap Management Co. CA now owns 5,856,043 shares of the medical research company’s stock valued at $43,862,000 after purchasing an additional 64,000 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in Fluidigm by 0.5% in the third quarter. Neuberger Berman Group LLC now owns 4,535,180 shares of the medical research company’s stock valued at $33,971,000 after purchasing an additional 24,186 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Fluidigm by 9.5% in the third quarter. Vanguard Group Inc. now owns 1,410,526 shares of the medical research company’s stock valued at $10,565,000 after purchasing an additional 121,815 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Fluidigm by 7.7% in the third quarter. Renaissance Technologies LLC now owns 1,152,800 shares of the medical research company’s stock valued at $8,634,000 after purchasing an additional 82,300 shares during the last quarter. 96.68% of the stock is owned by hedge funds and other institutional investors.

About Fluidigm

Fluidigm Corporation creates, manufactures, and markets technologies and tools for life sciences research in the United States and Europe. It offers analytical systems comprising Helios system, Hyperion imaging system, and Hyperion tissue imager; and assays and reagents, including Maxpar reagents. The company also provides preparatory instruments, such as access array and Juno systems; and analytical instruments comprising Biomark HD system and EP1 system.

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