Javan Esfandiari Sells 30,000 Shares of Chembio Diagnostics Inc (CEMI) Stock

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Chembio Diagnostics Inc (NASDAQ:CEMI) insider Javan Esfandiari sold 30,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $7.15, for a total value of $214,500.00. Following the transaction, the insider now owns 131,473 shares of the company’s stock, valued at $940,031.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Javan Esfandiari also recently made the following trade(s):

  • On Wednesday, May 22nd, Javan Esfandiari sold 7,300 shares of Chembio Diagnostics stock. The shares were sold at an average price of $7.41, for a total value of $54,093.00.

Chembio Diagnostics stock traded down $0.12 during midday trading on Friday, reaching $6.97. 19,503 shares of the stock traded hands, compared to its average volume of 61,133. Chembio Diagnostics Inc has a 12-month low of $4.85 and a 12-month high of $11.55. The stock has a market capitalization of $119.65 million, a price-to-earnings ratio of -12.67 and a beta of 1.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.73 and a quick ratio of 2.38.

Chembio Diagnostics (NASDAQ:CEMI) last announced its earnings results on Wednesday, May 1st. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). Chembio Diagnostics had a negative return on equity of 36.34% and a negative net margin of 29.51%. The company had revenue of $8.30 million during the quarter, compared to analysts’ expectations of $8.24 million. Equities research analysts anticipate that Chembio Diagnostics Inc will post -0.54 earnings per share for the current year.

CEMI has been the subject of a number of research analyst reports. Canaccord Genuity restated a “buy” rating and set a $9.00 target price on shares of Chembio Diagnostics in a report on Monday, March 11th. ValuEngine upgraded Chembio Diagnostics from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th.

A number of institutional investors have recently made changes to their positions in CEMI. Marshall Wace North America L.P. purchased a new position in shares of Chembio Diagnostics in the 1st quarter valued at about $48,000. Spark Investment Management LLC boosted its stake in shares of Chembio Diagnostics by 28.7% in the 1st quarter. Spark Investment Management LLC now owns 26,510 shares of the company’s stock valued at $147,000 after buying an additional 5,910 shares during the period. Morgan Stanley boosted its stake in shares of Chembio Diagnostics by 4.2% in the 1st quarter. Morgan Stanley now owns 36,220 shares of the company’s stock valued at $201,000 after buying an additional 1,446 shares during the period. BlackRock Inc. boosted its stake in shares of Chembio Diagnostics by 8.8% in the 4th quarter. BlackRock Inc. now owns 50,282 shares of the company’s stock valued at $285,000 after buying an additional 4,083 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Chembio Diagnostics by 47.1% in the 4th quarter. Northern Trust Corp now owns 53,868 shares of the company’s stock valued at $305,000 after buying an additional 17,258 shares during the period. Institutional investors own 41.75% of the company’s stock.

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Chembio Diagnostics Company Profile

Chembio Diagnostics, Inc, together with its subsidiaries, develops, manufactures, and commercializes point-of-care (POC) diagnostic tests that are used to detect or diagnose diseases. The company offers tests for HIV and Syphilis, and Zika virus. It also develops tests for malaria, dengue virus, chikungunya virus, ebola, lassa, marburg, leptospirosis, Rickettsia typhi, Burkholderia pseudomallei, and Orientia tsutsugamushi.

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