BioScrip (BIOS) Hits New 1-Year Low Following Weak Earnings

BioScrip Inc (NASDAQ:BIOS)’s share price reached a new 52-week low during mid-day trading on Monday following a weaker than expected earnings announcement. The stock traded as low as $2.29 and last traded at $2.34, with a volume of 7381472 shares. The stock had previously closed at $2.78.

The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.11). The business had revenue of $183.57 million during the quarter, compared to the consensus estimate of $188.39 million. During the same quarter last year, the company posted ($0.03) earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year.

A number of research firms have weighed in on BIOS. Canaccord Genuity lowered their target price on BioScrip from $5.00 to $3.50 and set a “buy” rating on the stock in a report on Monday. BidaskClub cut BioScrip from a “hold” rating to a “sell” rating in a research report on Saturday, February 23rd. TheStreet upgraded BioScrip from a “d+” rating to a “c-” rating in a research report on Monday, November 26th. Stephens cut BioScrip from an “overweight” rating to an “equal weight” rating and set a $2.51 price target for the company. in a research report on Monday. Finally, Zacks Investment Research cut BioScrip from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. BioScrip presently has an average rating of “Hold” and an average price target of $4.70.

Several large investors have recently added to or reduced their stakes in BIOS. BlackRock Inc. grew its position in shares of BioScrip by 28.8% during the fourth quarter. BlackRock Inc. now owns 9,807,734 shares of the company’s stock worth $35,013,000 after purchasing an additional 2,191,490 shares in the last quarter. Rothschild & Co. Asset Management US Inc. grew its holdings in BioScrip by 82.8% during the 3rd quarter. Rothschild & Co. Asset Management US Inc. now owns 2,174,826 shares of the company’s stock valued at $6,742,000 after buying an additional 985,235 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in BioScrip by 24.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,436,632 shares of the company’s stock valued at $7,554,000 after buying an additional 474,126 shares in the last quarter. Two Sigma Investments LP grew its holdings in BioScrip by 81.2% during the 4th quarter. Two Sigma Investments LP now owns 767,882 shares of the company’s stock valued at $2,741,000 after buying an additional 344,013 shares in the last quarter. Finally, Perritt Capital Management Inc. purchased a new position in BioScrip during the 4th quarter valued at approximately $714,000. Hedge funds and other institutional investors own 82.61% of the company’s stock.

The firm has a market cap of $355.95 million, a price-to-earnings ratio of -5.32 and a beta of 0.76.

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About BioScrip (NASDAQ:BIOS)

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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