Biomerica (NASDAQ:BMRA) Issues Earnings Results, Beats Expectations By $0.83 EPS

by · The Markets Daily

Biomerica (NASDAQ:BMRA – Get Free Report) released its earnings results on Wednesday. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.20) by $0.83, Zacks reports. The company had revenue of $1.26 million for the quarter, compared to analyst estimates of $3.63 million. Biomerica had a negative return on equity of 142.81% and a negative net margin of 115.50%.

Biomerica Stock Down 1.2%

Biomerica stock opened at $1.69 on Friday. Biomerica has a one year low of $1.45 and a one year high of $3.09. The stock’s 50 day moving average is $2.06 and its 200 day moving average is $2.00.

Insider Transactions at Biomerica

In other Biomerica news, Vice Chairman Allen Barbieri acquired 20,000 shares of the stock in a transaction dated Wednesday, August 26th. The stock was purchased at an average cost of $1.60 per share, with a total value of $32,000.00. Following the transaction, the insider owned 73,542 shares in the company, valued at approximately $117,667.20. The trade was a 37.35% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director M. Huff Gary purchased 31,250 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was acquired at an average cost of $1.60 per share, for a total transaction of $50,000.00. Following the completion of the purchase, the director owned 51,250 shares of the company’s stock, valued at approximately $82,000. This trade represents a 156.25% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 92,500 shares of company stock valued at $148,000. Corporate insiders own 18.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Biomerica from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, October 14th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell” and an average target price of $9.00.

Check Out Our Latest Stock Analysis on BMRA

About Biomerica

(Get Free Report)

Biomerica, Inc is a medical diagnostics company that develops and commercializes products designed to help diagnose and manage gastrointestinal and other health conditions. The company focuses on tests and related solutions intended to support more personalized treatment decisions.

Biomerica’s best-known product platform is inFoods, which uses blood-based testing to identify foods that may contribute to symptoms associated with gastrointestinal disorders. The company has emphasized inFoods IBS, a diagnostic-guided dietary management solution for people with irritable bowel syndrome, pairing test results with individualized food recommendations.

Biomerica also has developed and marketed diagnostic products for conditions including Helicobacter pylori infection, allergies and respiratory illnesses.

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