William Blair Maintains Market Perform On Bio-Reference Laboratories Following Strong Third Quarter


In a report issued yesterday, William Blair analyst Amanda Murphy maintained a Market Perform rating on Bio-Reference Laboratories (NASDAQ:BRLI), after reporting third quarter 2014 results that were above expectations, which were driven by strong volume and revenue per patient growth. No price target was provided.

Murphy notes: “Bio-Reference reported revenue growth of 20%, above our expectation of 14%, as a result of strong volume and revenue per patient growth (more so the latter). Revenue per patient increased 3% year-over-year, to $87.54, above our estimate of $84.17, as a result of an almost doubling in revenue per patient in GeneDX (introduction of inherited cancer testing contributed to most of this). Revenue per patient for non-genetic testing was down year-over-year as a result of reimbursement headwinds. The number of patients served was 2.511 million, up 16% year-over-year and above our estimate at 2.484 million (15% growth).”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Amanda Murphy has a total average return of 1.1% and a 60.0% success rate. Murphy is ranked #2359 out of 3265 analysts.

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