Fluidigm Co. (NASDAQ:FLDM) Expected to Post Quarterly Sales of $30.02 Million

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Equities research analysts predict that Fluidigm Co. (NASDAQ:FLDM) will report $30.02 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Fluidigm’s earnings. The highest sales estimate is $30.70 million and the lowest is $28.76 million. Fluidigm posted sales of $32.33 million during the same quarter last year, which suggests a negative year-over-year growth rate of 7.1%. The firm is expected to announce its next earnings report on Thursday, February 6th.

On average, analysts expect that Fluidigm will report full year sales of $114.75 million for the current fiscal year, with estimates ranging from $113.56 million to $115.50 million. For the next year, analysts forecast that the business will report sales of $125.64 million, with estimates ranging from $120.92 million to $134.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Fluidigm.

Fluidigm (NASDAQ:FLDM) last announced its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.19) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. Fluidigm had a negative return on equity of 25.11% and a negative net margin of 57.10%. The business had revenue of $26.50 million during the quarter, compared to analyst estimates of $28.74 million. During the same period in the previous year, the company earned ($0.13) EPS. The firm’s revenue was down 8.5% on a year-over-year basis.

A number of research firms have recently issued reports on FLDM. UBS Group upgraded Fluidigm from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $14.00 to $7.00 in a research report on Friday, October 18th. Janney Montgomery Scott cut Fluidigm from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 6th. BidaskClub upgraded Fluidigm from a “sell” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Zacks Investment Research cut Fluidigm from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Fluidigm currently has a consensus rating of “Hold” and an average price target 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 legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Cadence Capital Management LLC lifted its stake in Fluidigm by 1.1% in the third quarter. Cadence Capital Management LLC now owns 268,164 shares of the medical research company’s stock valued at $1,242,000 after buying an additional 2,928 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in Fluidigm by 12.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 30,828 shares of the medical research company’s stock valued at $380,000 after buying an additional 3,420 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Fluidigm in the second quarter valued at about $68,000. Prudential Financial Inc. lifted its stake in Fluidigm by 55.6% in the second quarter. Prudential Financial Inc. now owns 15,950 shares of the medical research company’s stock valued at $197,000 after buying an additional 5,700 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in Fluidigm by 21,055.2% in the third quarter. Tower Research Capital LLC TRC now owns 6,135 shares of the medical research company’s stock valued at $29,000 after buying an additional 6,106 shares during the period. 90.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of FLDM remained flat at $$2.52 on Wednesday. The stock had a trading volume of 367,200 shares, compared to its average volume of 898,362. The firm has a market cap of $175.30 million, a price-to-earnings ratio of -3.15 and a beta of 2.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.44 and a current ratio of 2.89. Fluidigm has a 1-year low of $2.12 and a 1-year high of $14.90. The stock’s 50 day moving average is $3.54 and its 200-day moving average is $7.65.

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, 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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Earnings History and Estimates for Fluidigm (NASDAQ:FLDM)

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