Sysmex Corporation’s American Depositary Receipts (ADR) experienced a notable decline of 3.9% on Friday, with the stock dropping to a low of $9.44 before closing at $9.45. This decline comes amid a significant reduction in trading volume, with only 3,612 shares changing hands, a staggering 97% drop from the average session volume of 141,228 shares. The stock had previously closed at $9.83.
Analysts Adjust Ratings and Price Targets
Recent reports from various equity analysts have influenced the stock’s performance. On August 14, Zacks Research upgraded Sysmex from a “strong sell” to a “hold” rating. Subsequently, on October 9, the Goldman Sachs Group elevated its rating from “hold” to “buy.” Currently, one analyst has rated the stock as a Buy, while another has given it a Hold rating. According to data from MarketBeat, Sysmex holds an average rating of “Moderate Buy” among analysts.
Quarterly Earnings Results and Financial Performance
Sysmex announced its quarterly earnings on November 5, 2023, reporting earnings per share (EPS) of $0.16, aligning with consensus estimates. The company generated revenue of $826.60 million during this quarter, falling short of the expected $880.80 million. Sysmex reported a net margin of 9.35% and a return on equity of 10.20%. Looking ahead, analysts predict that Sysmex Corporation ADR will achieve an EPS of $0.57 for the current fiscal year.
Sysmex Corporation specializes in the development, manufacturing, and sale of diagnostic instruments, reagents, and related software. Based in Japan, the company offers a range of products, including three-part and five-part white blood cell differentiation instruments, automated urine particle analyzers, and blood coagulation analyzers. Additionally, Sysmex provides automated immunochemistry systems and flow cytometers, which are crucial for diagnosing various health conditions, including leukemia and HIV/AIDS.
Investors and market watchers will be keenly observing Sysmex’s performance in the upcoming quarters as the company navigates these recent challenges and responds to analyst feedback.
