FY2024 EPS Estimates for 908 Devices Cut by Leerink Partnrs

908 Devices Inc. (NASDAQ:MASS) – Analysts at Leerink Partnrs lowered their FY2024 earnings per share (EPS) estimates for 908 Devices in a note issued to investors on Wednesday, November 13th. Leerink Partnrs analyst P. Souda now expects that the company will earn ($1.86) per share for the year, down from their previous 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.

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

908 Devices Price Performance

NASDAQ:MASS opened at $2.39 on Friday. 908 Devices has a one year low of $2.19 and a one year high of $12.51. The company has a fifty day moving average price of $3.42 and a 200 day moving average price of $4.66. The stock has a market cap of $83.23 million, a P/E ratio of -1.35 and a beta of 0.98.

Hedge Funds Weigh In On 908 Devices

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its holdings in shares of 908 Devices by 6.4% during the second 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 period. 49 Wealth Management LLC lifted its holdings in 908 Devices by 16.2% during the 3rd quarter. 49 Wealth Management LLC now owns 31,099 shares of the company’s stock valued at $108,000 after purchasing an additional 4,343 shares during the last quarter. American Century Companies Inc. lifted its holdings in 908 Devices by 18.6% during the 2nd quarter. American Century Companies Inc. now owns 33,718 shares of the company’s stock valued at $174,000 after purchasing an additional 5,295 shares during the last quarter. State Street Corp grew its stake in 908 Devices by 1.2% during the third quarter. State Street Corp now owns 479,044 shares of the company’s stock worth $1,662,000 after buying an additional 5,704 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in 908 Devices by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company’s stock worth $13,221,000 after buying an additional 6,772 shares during the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

About 908 Devices

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.