908 Devices FY2024 EPS Forecast Decreased by Leerink Partnrs

908 Devices Inc. (NASDAQ:MASS) – Leerink Partnrs lowered their FY2024 earnings estimates for 908 Devices in a note issued to investors on Wednesday, November 13th. Leerink Partnrs analyst P. Souda now forecasts that the company will post earnings per share of ($1.86) for the year, down from their prior estimate of ($1.12). Leerink Partnrs currently has a “Hold” rating on the stock. The consensus estimate for 908 Devices’ current full-year earnings is ($1.21) per share. Leerink Partnrs also issued estimates for 908 Devices’ Q4 2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.36) EPS, Q2 2025 earnings at ($0.33) EPS, Q3 2025 earnings at ($0.29) EPS, Q4 2025 earnings at ($0.24) EPS, FY2025 earnings at ($1.23) EPS and FY2026 earnings at ($1.13) EPS.

A number of other research analysts have also issued reports on the company. Stifel Nicolaus dropped their target price on 908 Devices from $17.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday. Leerink Partners reiterated a “market perform” rating and issued a $4.00 price objective (down from $12.00) on shares of 908 Devices in a research report on Wednesday.

908 Devices Stock Performance

Shares of MASS opened at $2.38 on Friday. 908 Devices has a fifty-two week low of $2.19 and a fifty-two week high of $12.51. The firm has a 50-day simple moving average of $3.44 and a 200-day simple moving average of $4.68. The company has a market capitalization of $82.87 million, a price-to-earnings ratio of -1.34 and a beta of 0.98.

Institutional Investors Weigh In On 908 Devices

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System purchased a new position in 908 Devices in the 1st quarter valued at approximately $80,000. Vanguard Group Inc. increased its position in shares of 908 Devices by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company’s stock valued at $13,221,000 after buying an additional 6,772 shares in the last quarter. AWM Investment Company Inc. raised its stake in shares of 908 Devices by 2.3% during the 1st quarter. AWM Investment Company Inc. now owns 668,526 shares of the company’s stock worth $5,047,000 after buying an additional 15,058 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of 908 Devices in the 2nd quarter worth about $48,000. Finally, Bank of New York Mellon Corp grew its stake in 908 Devices by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 69,550 shares of the company’s stock valued at $358,000 after acquiring an additional 4,212 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

908 Devices Company Profile

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.