Fluidigm (FLDM) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Fluidigm (NASDAQ:FLDM) from a sell rating to a hold rating in a report released on Thursday.

According to Zacks, “Fluidigm Corporation operates as a biotech tools company that creates microfluidic-based chips and instrumentation for biological research. Products offered by the Company include BioMark HD System- a real time PCR; EP1 system for SNP genotyping; Access Array System-an Integrated Fluidic Circuit (IFC); TOPAZ system for protein crystallography; Dynamic Array integrated fluidic circuits (IFCs); and Access Array Assay Design Services. The Company’s products find its application in Gene Expression, Single-Cell Gene Expression, SNP Genotyping, Targeted Resequencing, Sample Quantitation, Copy Number Variation and Protein Crystallization. Fluidigm Corporation is based in San Francisco, California. “

A number of other analysts have also issued reports on FLDM. ValuEngine raised Fluidigm from a strong sell rating to a sell rating in a research note on Wednesday, May 23rd. BidaskClub raised Fluidigm from a hold rating to a buy rating in a research note on Wednesday, September 12th.

Shares of FLDM opened at $8.10 on Thursday. The company has a debt-to-equity ratio of 4.79, a quick ratio of 1.64 and a current ratio of 2.05. Fluidigm has a 12 month low of $4.43 and a 12 month high of $8.62.

Fluidigm (NASDAQ:FLDM) last issued its quarterly earnings data on Thursday, August 2nd. The medical research company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.03). Fluidigm had a negative net margin of 53.65% and a negative return on equity of 104.75%. The business had revenue of $26.43 million during the quarter, compared to analyst estimates of $26.30 million. analysts anticipate that Fluidigm will post -0.99 earnings per share for the current fiscal year.

In other news, insider Levin Capital Strategies, L.P. purchased 25,500 shares of the stock in a transaction dated Wednesday, August 15th. The shares were purchased at an average cost of $6.78 per share, with a total value of $172,890.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought 48,690 shares of company stock worth $316,361 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Several large investors have recently modified their holdings of FLDM. Engineers Gate Manager LP acquired a new stake in shares of Fluidigm in the first quarter worth approximately $128,000. LMR Partners LLP purchased a new position in Fluidigm during the second quarter worth approximately $144,000. Trexquant Investment LP purchased a new position in Fluidigm during the first quarter worth approximately $165,000. Wells Fargo & Company MN lifted its position in Fluidigm by 64.8% during the first quarter. Wells Fargo & Company MN now owns 28,945 shares of the medical research company’s stock worth $169,000 after buying an additional 11,377 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in Fluidigm by 47.9% during the first quarter. New York State Common Retirement Fund now owns 38,900 shares of the medical research company’s stock worth $227,000 after buying an additional 12,600 shares in the last quarter. 96.73% of the stock is currently owned by hedge funds and other institutional investors.

Fluidigm Company Profile

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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