Intrinsic value of BioScrip - BIOS

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$2.43

  Intrinsic Value

$0.00

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  Rating & Target

str. sell

-100%

Previous close

$2.43

 
Intrinsic value

$0.00

 
Up/down potential

-100%

 
Rating

str. sell

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of BIOS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -4.68
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  936
  955
  977
  1,002
  1,030
  1,061
  1,095
  1,133
  1,173
  1,217
  1,263
  1,313
  1,367
  1,423
  1,484
  1,548
  1,615
  1,687
  1,763
  1,843
  1,928
  2,017
  2,112
  2,211
  2,316
  2,426
  2,542
  2,664
  2,793
  2,928
  3,070
Variable operating expenses, $m
 
  1,235
  1,262
  1,294
  1,329
  1,368
  1,411
  1,458
  1,509
  1,563
  1,622
  1,648
  1,715
  1,786
  1,862
  1,942
  2,027
  2,117
  2,213
  2,313
  2,420
  2,532
  2,650
  2,775
  2,906
  3,044
  3,190
  3,343
  3,505
  3,674
  3,853
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  934
  1,235
  1,262
  1,294
  1,329
  1,368
  1,411
  1,458
  1,509
  1,563
  1,622
  1,648
  1,715
  1,786
  1,862
  1,942
  2,027
  2,117
  2,213
  2,313
  2,420
  2,532
  2,650
  2,775
  2,906
  3,044
  3,190
  3,343
  3,505
  3,674
  3,853
Operating income, $m
  2
  -280
  -286
  -292
  -299
  -307
  -316
  -325
  -336
  -347
  -359
  -335
  -348
  -363
  -378
  -394
  -412
  -430
  -449
  -470
  -491
  -514
  -538
  -564
  -590
  -618
  -648
  -679
  -712
  -746
  -783
EBITDA, $m
  24
  -240
  -246
  -252
  -259
  -267
  -276
  -285
  -295
  -306
  -318
  -331
  -344
  -358
  -374
  -390
  -407
  -425
  -444
  -464
  -486
  -508
  -532
  -557
  -583
  -611
  -640
  -671
  -703
  -737
  -773
Interest expense (income), $m
  35
  35
  35
  36
  37
  38
  40
  41
  43
  45
  47
  49
  51
  54
  56
  59
  62
  65
  68
  72
  76
  79
  84
  88
  92
  97
  102
  108
  113
  119
  125
Earnings before tax, $m
  -32
  -315
  -320
  -328
  -336
  -345
  -355
  -366
  -378
  -391
  -405
  -384
  -399
  -416
  -434
  -453
  -474
  -495
  -518
  -542
  -567
  -594
  -622
  -651
  -683
  -716
  -750
  -787
  -825
  -866
  -908
Tax expense, $m
  2
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -42
  -315
  -320
  -328
  -336
  -345
  -355
  -366
  -378
  -391
  -405
  -384
  -399
  -416
  -434
  -453
  -474
  -495
  -518
  -542
  -567
  -594
  -622
  -651
  -683
  -716
  -750
  -787
  -825
  -866
  -908

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  10
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  608
  610
  624
  640
  658
  678
  700
  724
  750
  777
  807
  839
  873
  909
  948
  989
  1,032
  1,078
  1,127
  1,178
  1,232
  1,289
  1,349
  1,413
  1,480
  1,550
  1,624
  1,702
  1,785
  1,871
  1,962
Adjusted assets (=assets-cash), $m
  598
  610
  624
  640
  658
  678
  700
  724
  750
  777
  807
  839
  873
  909
  948
  989
  1,032
  1,078
  1,127
  1,178
  1,232
  1,289
  1,349
  1,413
  1,480
  1,550
  1,624
  1,702
  1,785
  1,871
  1,962
Revenue / Adjusted assets
  1.565
  1.566
  1.566
  1.566
  1.565
  1.565
  1.564
  1.565
  1.564
  1.566
  1.565
  1.565
  1.566
  1.565
  1.565
  1.565
  1.565
  1.565
  1.564
  1.565
  1.565
  1.565
  1.566
  1.565
  1.565
  1.565
  1.565
  1.565
  1.565
  1.565
  1.565
Average production assets, $m
  51
  52
  53
  54
  56
  57
  59
  61
  63
  66
  68
  71
  74
  77
  80
  84
  87
  91
  95
  100
  104
  109
  114
  119
  125
  131
  137
  144
  151
  158
  166
Working capital, $m
  46
  56
  58
  59
  61
  63
  65
  67
  69
  72
  75
  77
  81
  84
  88
  91
  95
  100
  104
  109
  114
  119
  125
  130
  137
  143
  150
  157
  165
  173
  181
Total debt, $m
  452
  433
  446
  460
  476
  494
  514
  535
  559
  584
  611
  639
  670
  703
  737
  774
  813
  854
  898
  944
  993
  1,044
  1,098
  1,156
  1,216
  1,279
  1,346
  1,416
  1,490
  1,568
  1,650
Total liabilities, $m
  567
  549
  562
  576
  592
  610
  630
  651
  675
  700
  727
  755
  786
  819
  853
  890
  929
  970
  1,014
  1,060
  1,109
  1,160
  1,214
  1,272
  1,332
  1,395
  1,462
  1,532
  1,606
  1,684
  1,766
Total equity, $m
  40
  61
  62
  64
  66
  68
  70
  72
  75
  78
  81
  84
  87
  91
  95
  99
  103
  108
  113
  118
  123
  129
  135
  141
  148
  155
  162
  170
  178
  187
  196
Total liabilities and equity, $m
  607
  610
  624
  640
  658
  678
  700
  723
  750
  778
  808
  839
  873
  910
  948
  989
  1,032
  1,078
  1,127
  1,178
  1,232
  1,289
  1,349
  1,413
  1,480
  1,550
  1,624
  1,702
  1,784
  1,871
  1,962
Debt-to-equity ratio
  11.300
  7.100
  7.140
  7.190
  7.240
  7.290
  7.340
  7.400
  7.450
  7.510
  7.560
  7.620
  7.670
  7.720
  7.780
  7.830
  7.880
  7.920
  7.970
  8.020
  8.060
  8.100
  8.140
  8.180
  8.220
  8.250
  8.290
  8.320
  8.350
  8.380
  8.410
Adjusted equity ratio
  0.050
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -42
  -315
  -320
  -328
  -336
  -345
  -355
  -366
  -378
  -391
  -405
  -384
  -399
  -416
  -434
  -453
  -474
  -495
  -518
  -542
  -567
  -594
  -622
  -651
  -683
  -716
  -750
  -787
  -825
  -866
  -908
Depreciation, amort., depletion, $m
  22
  40
  40
  40
  40
  40
  40
  40
  40
  40
  40
  4
  4
  4
  5
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  8
  8
  9
  9
  9
Funds from operations, $m
  -54
  -276
  -281
  -288
  -296
  -305
  -315
  -326
  -338
  -351
  -365
  -380
  -395
  -412
  -430
  -449
  -469
  -490
  -512
  -536
  -561
  -587
  -615
  -645
  -676
  -708
  -743
  -779
  -817
  -857
  -899
Change in working capital, $m
  -11
  1
  1
  1
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  5
  5
  5
  6
  6
  6
  7
  7
  7
  8
  8
  8
Cash from operations, $m
  -43
  -277
  -282
  -289
  -298
  -307
  -317
  -329
  -341
  -354
  -368
  -383
  -398
  -415
  -433
  -452
  -473
  -494
  -517
  -541
  -566
  -593
  -621
  -651
  -682
  -715
  -749
  -786
  -824
  -865
  -907
Maintenance CAPEX, $m
  0
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -9
  -9
New CAPEX, $m
  -10
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -7
  -8
Cash from investing activities, $m
  -73
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -7
  -7
  -7
  -7
  -7
  -8
  -9
  -9
  -9
  -9
  -11
  -11
  -11
  -11
  -13
  -13
  -13
  -15
  -15
  -16
  -17
Free cash flow, $m
  -116
  -281
  -286
  -294
  -302
  -312
  -323
  -334
  -346
  -360
  -374
  -389
  -405
  -423
  -441
  -461
  -481
  -503
  -526
  -551
  -576
  -604
  -632
  -662
  -694
  -728
  -763
  -800
  -839
  -880
  -924
Issuance/(repayment) of debt, $m
  27
  -9
  13
  14
  16
  18
  20
  21
  23
  25
  27
  29
  31
  33
  35
  37
  39
  41
  44
  46
  49
  51
  54
  57
  60
  63
  67
  70
  74
  78
  82
Issuance/(repurchase) of shares, $m
  83
  336
  322
  329
  338
  347
  358
  369
  381
  394
  408
  387
  403
  420
  438
  458
  478
  500
  523
  547
  572
  599
  628
  658
  689
  723
  758
  795
  833
  874
  917
Cash from financing (excl. dividends), $m  
  110
  327
  335
  343
  354
  365
  378
  390
  404
  419
  435
  416
  434
  453
  473
  495
  517
  541
  567
  593
  621
  650
  682
  715
  749
  786
  825
  865
  907
  952
  999
Total cash flow (excl. dividends), $m
  -6
  47
  48
  50
  52
  53
  55
  56
  58
  60
  61
  26
  28
  30
  32
  34
  36
  38
  40
  42
  45
  47
  50
  53
  55
  58
  61
  65
  68
  72
  75
Retained Cash Flow (-), $m
  -58
  -336
  -322
  -329
  -338
  -347
  -358
  -369
  -381
  -394
  -408
  -387
  -403
  -420
  -438
  -458
  -478
  -500
  -523
  -547
  -572
  -599
  -628
  -658
  -689
  -723
  -758
  -795
  -833
  -874
  -917
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -290
  -273
  -279
  -286
  -294
  -303
  -312
  -323
  -335
  -347
  -360
  -375
  -390
  -406
  -424
  -442
  -462
  -482
  -504
  -528
  -552
  -578
  -605
  -634
  -664
  -696
  -730
  -765
  -803
  -842
Discount rate, %
 
  14.60
  15.33
  16.10
  16.90
  17.75
  18.63
  19.57
  20.54
  21.57
  22.65
  23.78
  24.97
  26.22
  27.53
  28.91
  30.35
  31.87
  33.46
  35.14
  36.89
  38.74
  40.68
  42.71
  44.84
  47.09
  49.44
  51.91
  54.51
  57.23
  60.10
PV of cash for distribution, $m
 
  -253
  -206
  -179
  -153
  -130
  -109
  -89
  -72
  -58
  -45
  -34
  -26
  -19
  -13
  -9
  -6
  -4
  -3
  -2
  -1
  -1
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  47.9
  28.5
  17.0
  10.1
  6.0
  3.6
  2.1
  1.3
  0.8
  0.4
  0.3
  0.2
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

BioScrip, Inc. is engaged in providing infusion solutions. The Company partners with physicians, hospital systems, skilled nursing facilities, healthcare payors and pharmaceutical manufacturers to provide patients access to post-acute care services. The Company operates through Infusion Services segment. The Company operates through approximately 70 service locations in over 30 states. The Company offers home infusion services to provide clinical management services and the delivery of prescription medications. The Company provides services in coordination with, and under the direction of, the patient's physician. The Company's multidisciplinary team of clinicians, including pharmacists, nurses, dietitians and respiratory therapists, work with the physician to develop a plan of care suited to the patient's specific needs. Its platform provides service capabilities to deliver clinical management services that offer patients a community-based and home-based care environment.

FINANCIAL RATIOS  of  BioScrip (BIOS)

Valuation Ratios
P/E Ratio -6.8
Price to Sales 0.3
Price to Book 7.1
Price to Tangible Book
Price to Cash Flow -6.7
Price to Free Cash Flow -5.4
Growth Rates
Sales Growth Rate -4.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -16.7%
Cap. Spend. - 3 Yr. Gr. Rate -17.4%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 1082.5%
Total Debt to Equity 1130%
Interest Coverage 0
Management Effectiveness
Return On Assets -0.8%
Ret/ On Assets - 3 Yr. Avg. -17.6%
Return On Total Capital -9.4%
Ret/ On T. Cap. - 3 Yr. Avg. -29.2%
Return On Equity -381.8%
Return On Equity - 3 Yr. Avg. -244.9%
Asset Turnover 1.6
Profitability Ratios
Gross Margin 28.4%
Gross Margin - 3 Yr. Avg. 27.4%
EBITDA Margin 2.7%
EBITDA Margin - 3 Yr. Avg. -11.2%
Operating Margin 0.2%
Oper. Margin - 3 Yr. Avg. -13.3%
Pre-Tax Margin -3.4%
Pre-Tax Margin - 3 Yr. Avg. -17.2%
Net Profit Margin -4.5%
Net Profit Margin - 3 Yr. Avg. -17%
Effective Tax Rate -6.3%
Eff/ Tax Rate - 3 Yr. Avg. -2.5%
Payout Ratio 0%

BIOS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BIOS stock intrinsic value calculation we used $936 million for the last fiscal year's total revenue generated by BioScrip. The default revenue input number comes from 2016 income statement of BioScrip. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our BIOS stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 14.6%, whose default value for BIOS is calculated based on our internal credit rating of BioScrip, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of BioScrip.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of BIOS stock the variable cost ratio is equal to 129.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for BIOS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 8% for BioScrip.

Corporate tax rate of 27% is the nominal tax rate for BioScrip. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the BIOS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for BIOS are equal to 5.4%.

Life of production assets of 17.6 years is the average useful life of capital assets used in BioScrip operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for BIOS is equal to 5.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $40 million for BioScrip - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 127.473 million for BioScrip is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of BioScrip at the current share price and the inputted number of shares is $0.3 billion.

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COMPANY NEWS

▶ BioScrip to Host Third Quarter Results Call   [Oct-16-17 08:00AM  GlobeNewswire]
▶ ETFs with exposure to BioScrip, Inc. : October 13, 2017   [Oct-13-17 10:33AM  Capital Cube]
▶ BioScrip reports 2Q loss   [Aug-08-17 11:54PM  Associated Press]
▶ BioScrip To Host Second Quarter Results Call   [Jul-17-17 09:00AM  GlobeNewswire]
▶ 5 Breakout Stocks Offering Phenomenal Returns   [Jul-07-17 08:41AM  Zacks]
▶ BioScrip Announces New Senior Note Facilities   [Jun-29-17 08:30AM  GlobeNewswire]
▶ BioScrip Provides Update on UnitedHealthcare Contract   [May-30-17 08:00AM  GlobeNewswire]
▶ ETFs with exposure to BioScrip, Inc. : May 23, 2017   [May-23-17 12:29PM  Capital Cube]
▶ ETFs with exposure to BioScrip, Inc. : May 11, 2017   [May-11-17 04:17PM  Capital Cube]
▶ BioScrip reports 1Q loss   [May-04-17 09:14AM  Associated Press]
▶ BioScrip Announces CFO Transition   [Apr-20-17 09:00AM  GlobeNewswire]
▶ BioScrip To Host First Quarter 2017 Results Call   [Apr-17-17 09:00AM  GlobeNewswire]
▶ ETFs with exposure to BioScrip, Inc. : March 27, 2017   [Mar-27-17 03:50PM  Capital Cube]
▶ BioScrip Announces Meeting with Investors   [09:00AM  GlobeNewswire]
▶ Biocon Chairman Says Stock Price Warranted on Pipeline   [Mar-08-17 12:44PM  Bloomberg Video]
▶ Company News for March 06, 2017   [Mar-06-17 10:10AM  Zacks]
▶ Is Jive Software Inc (JIVE) A Good Stock To Buy?   [Dec-07-16 06:38AM  at Insider Monkey]
▶ 4 Companies That Destroyed Shareholders Last Week   [Nov-12-16 09:46AM  at 24/7 Wall St.]
▶ BioScrip Reports Third Quarter 2016 Financial Results   [Nov-07-16 05:00PM  GlobeNewswire]
▶ Daily Wrap: The Biggest Hedge Fund Moves of the Day   [Oct-19-16 02:04PM  at Insider Monkey]
▶ BioScrip To Host 2016 Third Quarter Results Call   [Oct-17-16 11:34AM  GlobeNewswire]
▶ Five Cheap Healthcare Stocks Poised to Explode   [Oct-08-16 09:22AM  at Insider Monkey]
Financial statements of BIOS
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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