Neuberger Berman Investment Advis recently announced the acquisition of new stake in Standard BioTools Inc (NASDAQ:LAB). The institutional investor has increased its shareholding in the Healthcare company by 0.86% to 4.54 million shares with purchase of 38558.0 shares. This fresh investment now brings its stake to 5.72% valued currently at $11.72 million. In addition, Morgan Stanley Investment Managem raised its holdings by 1.41 million to 4.42 million shares. And The Vanguard Group, Inc. has lifted its position by 0.81% or 31636.0 shares – to 3.95 million shares.
With over 5.49 million Standard BioTools Inc (LAB) shares trading Tuesday and a closing price of $2.06 on the day, the dollar volume was approximately $11.32 million. The shares have shown a negative half year performance of -9.65% and its price on 01/09/24 lost nearly -2.83%. Currently, there are 289.46M common shares owned by the public and among those 282.97M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for LAB have a consensus price objective of $4.00. The analysts have set the share’s price value over the next 12 months at a high of $4.00 and a low of $4.00. The average price target is 48.5% above its recent price level and an upside to the estimated low will see the stock gain 48.5% over that period. But an upside of 48.5% will see the stock hit the forecast high price target while median target price for the stock is $4.00.
Insiders at the company have transacted a total of 26 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 23 of these insider trades were purchases, accounting for 2,283,143 shares. Insider sales of the common stock occurred on 3 occasions, with total insider shares sold totaling 143,762 shares.
The top 3 mutual fund holders in Standard BioTools Inc are Vanguard Total Stock Market ETF, PRIMECAP Odyssey Aggressive Growt, and Morgan Stanley Instl. Fund Tr. -. Vanguard Total Stock Market ETF owns 2.86 million shares of the company’s stock, all valued at over $7.37 million. PRIMECAP Odyssey Aggressive Growt sold -0.14 million shares to see its total holdings shrink to 2.2 million shares valued at over $5.67 million and representing 2.77% of the shares outstanding. Morgan Stanley Instl. Fund Tr. – bought 0.65 million shares to bring its total holdings to over 1.69 million shares at a value of $4.37 million. Morgan Stanley Instl. Fund Tr. – now owns shares totaling to 2.13% of the shares outstanding.
The company’s stock has a 5-day price change of -7.21% and 14.44% over the past three months. LAB shares are trading -6.79% year to date (YTD), with the 12-month market performance up to 32.90% higher. It has a 12-month low price of $1.46 and touched a high of $3.16 over the same period. LAB has an average intraday trading volume of 887.30K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.02%, -5.37%, and -7.61% respectively.
Institutional ownership of Standard BioTools Inc (NASDAQ: LAB) shares accounts for 17.62% of the company’s 289.46M shares outstanding. Mutual fund holders own 45.26%, while other institutional holders and individual stakeholders account for 76.02% and 19.02% respectively.
It has a market capitalization of $596.29M and a beta (3y monthly) value of 1.67. The earnings-per-share (ttm) stands at -$0.96. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.77% over the week and 8.51% over the month.
Analysts forecast that Standard BioTools Inc (LAB) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and -$0.01 for 2024. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was $0 a year ago. Earnings per share for the fiscal year are expected to increase by 61.32%, and 41.49% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Standard BioTools Inc (LAB) as a “Strong Buy” at a consensus score of 1.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the LAB, a number of firms have released research notes about the stock. KeyBanc Capital Markets stated their Overweight rating for the stock in a research note on July 12, 2023, with the firm’s price target at $4.
