BioScrip: A Hammered Stock But A Potential Buy Under $10
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Wed, Aug. 6, 6:50 PM
- BioScrip (BIOS +2.1%) Q2 results: Total Revenues: $247.1M (+43.4%); Gross Profit: $65.4M (+13.1%); Operating Loss: ($15.5M) (-68.5%); Net Loss: ($19.8M) (-122.5%); Loss Per Share: ($0.29) (-107.1%); Quick Assets: $1.5M (+50.0%); Cash Burn (1H): ($31.0M) (-40.3%).
- 2014 Guidance: Revenues: high end of $940M - 980M; non-GAAP EBITDA: $55M - 60M.
Wed, Aug. 6, 5:03 PM
Tue, Aug. 5, 5:35 PM
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Thu, Jul. 3, 11:07 AM
- Saying that most custom-mixed medicines are either ineffective or overpriced, pharmacy benefit manager Express Scripts (ESRX +0.6%) plans to drop coverage for 1,000 drug ingredients found in compounded meds. The company states that the move will reduce employers' spending on compounded prescriptions by 95%. Express Scripts SVP Glen Stettin says, "What we are eliminating is, pure and simple, wasteful spending. These drugs are being used when there are other things available that are already approved by the FDA and are less expensive." The cuts will take effect on September 15, 2014 unless customers specifically ask to continue paying for them. Firms who want to opt out of the cuts must notify ESRX by Thursday (not sure if this means today).
- Predictably, compounding pharmacists lack enthusiasm for the move saying that it will deprive patients of much-needed medications.
- Related tickers: (UNH +0.7%) (CTRX +0.4%) (BIOS -0.2%) (WLP -0.7%) (AET +0.3%) (CI +0.6%) (HUM +0.2%) (CNC) (WCG +0.3%) (MOH +1.4%) (MGLN +0.5%)
Fri, May. 9, 12:47 PM
Fri, May. 9, 12:23 AM
Wed, May. 7, 5:35 PM
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Fri, Apr. 11, 4:01 AM
- The White House has confirmed that Health & Human Services Secretary Kathleen Sebelius is resigning and will be replaced by Sylvia Burwell, the director of the Office of Management & Budget, assuming the latter is confirmed by the Senate.
- Sebelius' departure comes after she said in October that she should be held "accountable for the debacle" of the launch of Obamacare, although the program did reach the government's target of 7M sign-ups by the end of March. She said yesterday that at least 7.5M people have enrolled.
- One of Burwell's first challenges will be to work with health insurers as they set prices for Obamacare plans in 2015, which industry executives have warned could rise sharply.
- More on Obamacare
- Health insurers: AET, HNT, HUM, UNH, WLP, MO
- Hospital operators: HCA, CYH, THC, UHS, HMA, LPNT
- Pharmacies: WAG, CVS, BIOS, RAD, MHS, PMC, OCR
- ETFs: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS
Tue, Apr. 8, 9:16 AM
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Wed, Feb. 26, 12:10 AM| Comment!
Tue, Feb. 25, 5:35 PM| 4 Comments
Mon, Feb. 3, 9:09 AM
Tue, Jan. 21, 10:24 AM
- BioScrip (BIOS +5.3%) gets an early pop following a big thumbs up from Oscar Schafer in the Barron's Roundtable over the weekend. Also gaining after getting picked by Schafer is ANI Pharmaceuticals (ANIP +6.3%).
- Now alone in the market for its estrogen product, ANI has been able to boost prices, and - combined with the acquisition of 31 generic products from Teva Pharmaceutical - the company could earn more than $1 per share this year, rising to $2 over time. "The key is to grow the portfolio from seven drugs to more than 30, and buy additional drugs."
Tue, Jan. 21, 9:10 AM
Sat, Jan. 18, 9:00 AM
- Not finding a lot of value in the U.S. market, Oscar Schafer mostly looks overseas for his picks at this year's Barron's Roundtable, but still offers a domestic recommendation. Taking advantage of a major stumble in BioScrip (BIOS) as the company struggled integrating four large acquisitions, Schafer has built up a large stake.
- Seventy percent of infusion pharmacies are independent, and BioScrip - along with Option Care (now WAG), and Coram (now CVS) - is one of three major consolidators. After a tough year, management is focused on completing the integration, cutting expenses, and boosting margins in the infusion business. "Current margins dramatically understate the earnings power of the franchise," says Schafer, and the company could see $120M of EBITDA and $0.85 of free cash flow in 2015. CVS paid 16x EBITDA for Coram, and Schafer wouldn't be surprised to see it, Walgreen, or another strategic acquirer pay the same for BioScrip.
- BioScrip was trading at $5.90 prior to the late-November Coram deal. It closed at $7.54 yesterday. Schafer values the stock at $13.
BIOS vs. ETF Alternatives
BioScrip Inc provides home infusion & other home healthcare services to patients, physicians, hospitals, healthcare payors & pharmaceutical manufacturers to provide clinical management solutions & delivers cost-effective access to medications.
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