Fluidigm (NASDAQ:FLDM) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, ValuEngine reports.

A number of other brokerages also recently commented on FLDM. UBS Group began coverage on shares of Fluidigm in a research report on Friday, March 15th. They set a “neutral” rating and a $14.00 price objective for the company. Piper Jaffray Companies upped their price objective on shares of Fluidigm from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. BidaskClub upgraded shares of Fluidigm from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 16th. BTIG Research began coverage on shares of Fluidigm in a research report on Wednesday, March 13th. They set a “buy” rating and a $15.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of Fluidigm from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.50.

Shares of Fluidigm stock opened at $11.87 on Wednesday. The firm has a market cap of $819.27 million, a price-to-earnings ratio of -14.84 and a beta of 2.32. The company has a quick ratio of 2.86, a current ratio of 3.26 and a debt-to-equity ratio of 0.30. Fluidigm has a one year low of $4.65 and a one year high of $14.90.

Fluidigm (NASDAQ:FLDM) last announced its quarterly earnings data on Thursday, May 2nd. The medical research company reported ($0.44) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.30). The firm had revenue of $30.10 million for the quarter, compared to analysts’ expectations of $29.18 million. Fluidigm had a negative return on equity of 43.75% and a negative net margin of 60.45%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. On average, equities research analysts forecast that Fluidigm will post -0.5 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Fluidigm by 1.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 89,156 shares of the medical research company’s stock valued at $1,185,000 after purchasing an additional 1,224 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Fluidigm by 40.6% in the 1st quarter. Citigroup Inc. now owns 9,688 shares of the medical research company’s stock valued at $128,000 after purchasing an additional 2,797 shares in the last quarter. American International Group Inc. increased its holdings in shares of Fluidigm by 21.2% in the 1st quarter. American International Group Inc. now owns 20,946 shares of the medical research company’s stock valued at $278,000 after purchasing an additional 3,661 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Fluidigm by 17.7% in the 1st quarter. Rhumbline Advisers now owns 40,583 shares of the medical research company’s stock valued at $539,000 after purchasing an additional 6,094 shares in the last quarter. Finally, Perkins Capital Management Inc. increased its holdings in shares of Fluidigm by 2.0% in the 1st quarter. Perkins Capital Management Inc. now owns 331,150 shares of the medical research company’s stock valued at $4,401,000 after purchasing an additional 6,350 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

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.

Further Reading: The limitations of an equal weight rating

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