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Zacks cut shares of BioScrip (NASDAQ: BIOS) from an outperform rating to a neutral rating in a research note issued to investors on Tuesday, StockRatingsNetwork reports. The firm currently has $17.00 price target on the stock.
Zacks’ analyst wrote, “In the first quarter of 2013, BioScrip’s adjusted EPS of a penny lagged the Zacks Consensus Estimate of $0.02. Despite a 27.9% jump in revenues to $199.1 million, PBM business witnessed another quarter of downfall. However, BioScrip continues to remain the third largest home infusion services provider. We are encouraged by the company’s intent to buy CarePoint to bolster its Infusion business. In addition, we remain hopeful about the favorable industry trends across the U.S. which should boost the company’s growth momentum. However, looming reimbursement pressure and margin headwinds are growing worries. The competitive landscape is also tough with the presence of larger players. In the absence of any significant positive catalyst in the near term, we downgrade BioScrip to Neutral.”
Zacks has also taken action a number of other health care stocks recently. The firm downgraded shares of Vanguard Health Systems Inc. from a neutral rating to an underperform rating. Their analysts now have a $19.80 price target on that stock. Also, Zacks downgraded shares of HealthSouth Corp. from an outperform rating to a neutral rating. Their analysts now have a $32.30 price target on that stock. Finally, Zacks reiterated its neutral rating on shares of Cigna Corporation. They have a $76.00 price target on that stock.
Several other analysts have also recently commented on the stock. Analysts at Dougherty & Co raised their price target on shares of BioScrip from $15.00 to $20.00 in a research note to investors on Tuesday, June 18th. They now have a buy rating on the stock. Separately, analysts at Feltl & Co. raised their price target on shares of BioScrip from $17.00 to $20.00 in a research note to investors on Monday, June 17th. They now have a strong-buy rating on the stock. Finally, analysts at Jefferies Group initiated coverage on shares of BioScrip in a research note to investors on Tuesday, May 21st. They set a buy rating and a $17.00 price target on the stock.
Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. BioScrip has a consensus rating of Buy and an average price target of $17.25.
BioScrip (NASDAQ: BIOS) opened at 16.40 on Tuesday. BioScrip has a 1-year low of $6.14 and a 1-year high of $16.93. The stock’s 50-day moving average is currently $14.91. The company has a market cap of $1.107 billion and a price-to-earnings ratio of 15.79.
BioScrip, Inc is a specialty pharmaceutical healthcare organization that partners with patients, physicians, healthcare payors and pharmaceutical manufacturers to provide access to medications and management solutions to optimize outcomes for chronic and other complex healthcare conditions.Image may be NSFW.
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