Chembio Diagnostics Inc (NASDAQ:CEMI) – Equities research analysts at Dougherty & Co issued their Q2 2019 earnings per share (EPS) estimates for shares of Chembio Diagnostics in a note issued to investors on Thursday, May 2nd. Dougherty & Co analyst K. Bauser anticipates that the company will post earnings per share of ($0.16) for the quarter. Dougherty & Co also issued estimates for Chembio Diagnostics’ FY2019 earnings at ($0.60) EPS.
Chembio Diagnostics (NASDAQ:CEMI) last announced its earnings results on Wednesday, May 1st. The company reported ($0.14) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.14). Chembio Diagnostics had a negative return on equity of 38.54% and a negative net margin of 29.51%. The business had revenue of $8.30 million during the quarter, compared to analysts’ expectations of $8.24 million.
Other research analysts have also recently issued research reports about the company. Canaccord Genuity reaffirmed a “buy” rating and set a $10.00 target price on shares of Chembio Diagnostics in a research note on Thursday, May 2nd. ValuEngine raised Chembio Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th.
Shares of CEMI stock opened at $7.24 on Monday. Chembio Diagnostics has a fifty-two week low of $4.85 and a fifty-two week high of $11.55. The stock has a market cap of $122.08 million, a P/E ratio of -13.16 and a beta of 1.88. The company has a quick ratio of 3.16, a current ratio of 4.36 and a debt-to-equity ratio of 0.01.
Several large investors have recently added to or reduced their stakes in CEMI. Wells Fargo & Company MN boosted its position in shares of Chembio Diagnostics by 7.3% in the 3rd quarter. Wells Fargo & Company MN now owns 144,550 shares of the company’s stock valued at $1,518,000 after purchasing an additional 9,800 shares during the period. Renaissance Technologies LLC boosted its position in shares of Chembio Diagnostics by 101.8% in the 3rd quarter. Renaissance Technologies LLC now owns 43,800 shares of the company’s stock valued at $460,000 after purchasing an additional 22,100 shares during the period. Vanguard Group Inc. boosted its position in shares of Chembio Diagnostics by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 529,604 shares of the company’s stock valued at $5,561,000 after purchasing an additional 8,450 shares during the period. Vanguard Group Inc boosted its position in shares of Chembio Diagnostics by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 529,604 shares of the company’s stock valued at $5,561,000 after purchasing an additional 8,450 shares during the period. Finally, Douglas Lane & Associates LLC acquired a new position in shares of Chembio Diagnostics in the 4th quarter valued at $80,000. Institutional investors and hedge funds own 44.52% of the company’s stock.
Chembio Diagnostics Company Profile
Chembio Diagnostics, Inc, together with its subsidiaries, develops, manufactures, and commercializes point-of-care (POC) diagnostic tests that are used to detect or diagnose diseases. The company offers tests for HIV and Syphilis, and Zika virus. It also develops tests for malaria, dengue virus, chikungunya virus, ebola, lassa, marburg, leptospirosis, Rickettsia typhi, Burkholderia pseudomallei, and Orientia tsutsugamushi.
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