Bio-Reference Labs reported earnings of 37 cents a share, 5 cents greater than the Capital IQ Consensus Estimate of 32 cents a share. Revenues rose 14.1% year over year to $201.3 million, which beat the consensus estimate of $195.9 million.
The stock was up 17.44% to $31.45 at 2:49 p.m. Nearly 1.4 million shares had changed hands by that point, which easily surpassed the average volume of 282,730.
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TheStreet Ratings team rates BIO REFERENCE LABS as a "hold" with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate BIO REFERENCE LABS (BRLI) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, weak operating cash flow and a generally disappointing performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows: