$28.85 Million in Sales Expected for Fluidigm Co. (NASDAQ:FLDM) This Quarter

Analysts expect Fluidigm Co. (NASDAQ:FLDM) to report sales of $28.85 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Fluidigm’s earnings, with the highest sales estimate coming in at $29.74 million and the lowest estimate coming in at $28.00 million. Fluidigm posted sales of $28.96 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.4%. The company is expected to report its next earnings report after the market closes on Tuesday, November 5th.

On average, analysts expect that Fluidigm will report full year sales of $120.47 million for the current fiscal year, with estimates ranging from $120.20 million to $120.80 million. For the next year, analysts expect that the firm will report sales of $139.43 million, with estimates ranging from $135.60 million to $143.10 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Fluidigm.

Fluidigm (NASDAQ:FLDM) last announced its quarterly earnings results on Thursday, August 1st. The medical research company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.08). Fluidigm had a negative return on equity of 31.45% and a negative net margin of 57.48%. The company had revenue of $28.20 million for the quarter, compared to the consensus estimate of $30.16 million. The company’s quarterly revenue was up 6.8% compared to the same quarter last year.

Several brokerages recently issued reports on FLDM. BidaskClub upgraded Fluidigm from a “strong sell” rating to a “sell” rating in a report on Saturday. UBS Group upgraded Fluidigm from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $14.00 to $7.00 in a report on Friday. Finally, Zacks Investment Research upgraded Fluidigm from a “hold” rating to a “buy” rating and set a $5.25 price target for the company in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Fluidigm has a consensus rating of “Buy” and a consensus target price of $10.81.

In other Fluidigm news, insider Levin Easterly Partners Llc sold 577,197 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $5.40, for a total value of $3,116,863.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Samuel D. Colella acquired 9,000 shares of Fluidigm stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $7.00 per share, with a total value of $63,000.00. Following the purchase, the director now directly owns 115,481 shares in the company, valued at $808,367. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 15,000 shares of company stock valued at $95,460 and sold 1,238,708 shares valued at $9,517,533. 2.20% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in FLDM. New York State Common Retirement Fund grew its stake in Fluidigm by 28.9% in the 1st quarter. New York State Common Retirement Fund now owns 73,850 shares of the medical research company’s stock valued at $981,000 after purchasing an additional 16,550 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of Fluidigm during the 1st quarter valued at $159,000. MetLife Investment Advisors LLC purchased a new position in shares of Fluidigm during the 1st quarter valued at $214,000. Metropolitan Life Insurance Co NY purchased a new position in shares of Fluidigm during the 1st quarter valued at $151,000. Finally, FMR LLC purchased a new position in shares of Fluidigm during the 1st quarter valued at $24,188,000.

Fluidigm stock traded up $0.42 during trading on Friday, hitting $4.73. 983,279 shares of the company were exchanged, compared to its average volume of 552,873. The business’s 50 day moving average is $5.03 and its 200 day moving average is $9.76. Fluidigm has a 52 week low of $4.03 and a 52 week high of $14.90. The company has a market capitalization of $299.13 million, a P/E ratio of -5.91 and a beta of 2.33. The company has a current ratio of 2.86, a quick ratio of 2.48 and a debt-to-equity ratio of 0.32.

About Fluidigm

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, a CyTOF system, Hyperion imaging system, and Hyperion tissue imager; and assays and reagents, including Maxpar reagents and Maxpar human immune monitoring panel kit and workflow.

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