908 Devices FY2024 EPS Forecast Lowered by Leerink Partnrs

908 Devices Inc. (NASDAQ:MASS) – Equities research analysts at Leerink Partnrs reduced their FY2024 earnings per share (EPS) estimates for 908 Devices in a report issued on Wednesday, November 13th. Leerink Partnrs analyst P. Souda now forecasts that the company will post earnings of ($1.86) per share for the year, down from their prior forecast 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.

Several other equities analysts also recently weighed in on the stock. Leerink Partners reissued a “market perform” rating and issued a $4.00 price target (down from $12.00) on shares of 908 Devices in a research note on Wednesday. Stifel Nicolaus cut their target price on 908 Devices from $17.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday.

908 Devices Stock Performance

Shares of MASS opened at $2.39 on Friday. The stock has a 50 day moving average price of $3.42 and a 200 day moving average price of $4.65. The stock has a market capitalization of $83.23 million, a price-to-earnings ratio of -1.35 and a beta of 0.98. 908 Devices has a one year low of $2.19 and a one year high of $12.51.

Hedge Funds Weigh In On 908 Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in 908 Devices by 6.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 69,550 shares of the company’s stock worth $358,000 after buying an additional 4,212 shares in the last quarter. 49 Wealth Management LLC grew its position in shares of 908 Devices by 16.2% during the third quarter. 49 Wealth Management LLC now owns 31,099 shares of the company’s stock worth $108,000 after buying an additional 4,343 shares in the last quarter. American Century Companies Inc. raised its holdings in 908 Devices by 18.6% in the second quarter. American Century Companies Inc. now owns 33,718 shares of the company’s stock valued at $174,000 after acquiring an additional 5,295 shares in the last quarter. State Street Corp increased its position in shares of 908 Devices by 1.2% in the 3rd quarter. State Street Corp now owns 479,044 shares of the company’s stock valued at $1,662,000 after purchasing an additional 5,704 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of 908 Devices by 1.2% during the third quarter. Geode Capital Management LLC now owns 567,788 shares of the company’s stock worth $1,970,000 after purchasing an additional 6,634 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.