Mario Gabelli (Trades, Portfolio), the founder of the $49.4 billion asset management firm GAMCO Investors (GBL, Financial), has increased his stake in BioScrip Inc. (BIOS, Financial), according to GuruFocus Real Time Picks. Gabelli holds 3,636,600 shares, or 5.3% of the company, after the 40.2% position increase.
He has owned the stock since the third quarter of 2012, and has been buying more shares each of the past several quarters.
BioScrip’s share price declined 20.5% year to date, closing at $5.88 per share on Oct. 27, near a one-year low. The company is a provider of infusion and home care management in the health care industry.
In its second quarter results, announced Aug. 6, BioScrip reported a 43.4% revenue increase to $74.8 million compared to the same period a year ago, driven by its infusion business, which grew by double-digits. For the same quarter, its loss per share fell to $0.27, compared to a loss per share of $0.14 the prior year.
BioScrip’s long-term revenue and earnings history:
BioScrip has a P/B ratio of 1.28 and P/S ratio of 0.4, near a three-year low.
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