Perkins Capital Management Inc buys $1,456,851 stake in TearLab Corp (TEAR)

TearLab Corp (TEAR) : Perkins Capital Management Inc scooped up 483,500 additional shares in TearLab Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 20, 2016. The investment management firm now holds a total of 1,755,242 shares of TearLab Corp which is valued at $1,456,851.TearLab Corp makes up approximately 1.60% of Perkins Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Trellus Management Company sold out all of its stake in TEAR during the most recent quarter. The investment firm sold 36,050 shares of TEAR which is valued $30,210.

TearLab Corp opened for trading at $0.802 and hit $0.84 on the upside on Wednesday, eventually ending the session at $0.8383, with a gain of 4.53% or 0.0363 points. The heightened volatility saw the trading volume jump to 4,57,341 shares. Company has a market cap of $29 M.

On the company’s financial health, TearLab Corp reported $-0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 4, 2016. Analyst had a consensus of $-0.23. The company had revenue of $6.80 million for the quarter, compared to analysts expectations of $6.82 million. The company’s revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.25 EPS.

Many Wall Street Analysts have commented on TearLab Corp. Rodman & Renshaw Initiated TearLab Corp on Jul 12, 2016 to “Buy”, Price Target of the shares are set at $2.TearLab Corp was Upgraded by Feltl & Co. to ” Strong Buy” on May 5, 2016.

TearLab Corporation is an in-vitro diagnostic company. The Company has commercialized a tear testing platform the TearLab Osmolarity System that enables eye care practitioners to test for sensitive and specific biomarkers using nanoliters of tear film at the point-of-care. The Company is engaged in commercial manufacturing of the TearLab Osmolarity System. The Company’s wholly owned subsidiary TearLab Research Inc. develops technologies to enable eye care practitioners to test a range of biomarkers (chemistries metabolites (glucose) genes and proteins) at the point-of-care. The TearLab Osmolarity System measures tear film osmolarity for the diagnosis of Dry Eye Disease (DED). The TearLab Osmolarity System is an integrated testing system consisted of: the TearLab disposable the TearLab Pen and the TearLab Reader.

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