Wall Street brokerages expect that Invitae (NYSE:NVTA) will post earnings per share of ($0.60) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Invitae’s earnings. The highest EPS estimate is ($0.56) and the lowest is ($0.63). Invitae reported earnings per share of ($0.66) in the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The business is expected to issue its next quarterly earnings results on Monday, August 6th.
On average, analysts expect that Invitae will report full-year earnings of ($2.23) per share for the current year, with EPS estimates ranging from ($2.49) to ($1.79). For the next year, analysts forecast that the company will report earnings of ($1.60) per share, with EPS estimates ranging from ($2.09) to ($0.94). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Invitae.
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Invitae (NYSE:NVTA) last issued its earnings results on Wednesday, May 9th. The medical research company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.05). Invitae had a negative net margin of 154.96% and a negative return on equity of 126.52%. The company had revenue of $27.67 million during the quarter, compared to analyst estimates of $26.86 million. During the same quarter in the previous year, the company posted ($0.64) EPS. The company’s quarterly revenue was up 167.6% on a year-over-year basis.
NVTA has been the subject of several research analyst reports. Zacks Investment Research cut shares of Invitae from a “hold” rating to a “sell” rating in a report on Wednesday, April 11th. Leerink Swann reduced their price target on shares of Invitae from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, January 16th. Benchmark reduced their price target on shares of Invitae from $16.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, January 16th. JPMorgan Chase cut their price objective on shares of Invitae from $13.00 to $9.00 and set an “overweight” rating for the company in a research report on Tuesday, February 13th. Finally, ValuEngine downgraded shares of Invitae from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. Invitae has a consensus rating of “Buy” and an average price target of $10.05.
In related news, major shareholder Bros. Advisors Lp Baker purchased 1,111,111 shares of the stock in a transaction dated Wednesday, March 28th. The shares were acquired at an average cost of $4.50 per share, with a total value of $4,999,999.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Randal W. Scott purchased 44,444 shares of the stock in a transaction dated Monday, April 2nd. The shares were bought at an average cost of $4.50 per share, for a total transaction of $199,998.00. The disclosure for this purchase can be found here. 8.70% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Invitae by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 291,229 shares of the medical research company’s stock worth $2,644,000 after purchasing an additional 9,460 shares during the period. LPL Financial LLC grew its stake in shares of Invitae by 25.4% during the 4th quarter. LPL Financial LLC now owns 54,597 shares of the medical research company’s stock worth $496,000 after purchasing an additional 11,052 shares during the period. Swiss National Bank grew its stake in shares of Invitae by 23.0% during the 4th quarter. Swiss National Bank now owns 63,200 shares of the medical research company’s stock worth $574,000 after purchasing an additional 11,800 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Invitae during the 4th quarter worth $116,000. Finally, Verity Asset Management Inc. grew its stake in shares of Invitae by 120.0% during the 4th quarter. Verity Asset Management Inc. now owns 25,186 shares of the medical research company’s stock worth $174,000 after purchasing an additional 13,740 shares during the period. 71.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of Invitae stock traded up $0.21 during trading hours on Friday, hitting $6.78. The company had a trading volume of 55,884 shares, compared to its average volume of 429,866. Invitae has a twelve month low of $6.55 and a twelve month high of $6.83. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.35. The stock has a market cap of $313.44 million, a price-to-earnings ratio of -2.56 and a beta of 1.03.
Invitae Company Profile
Invitae Corporation, a genetic information company, processes DNA-containing samples, analyzes information related to patient-specific genetic variation, and generates test reports for clinicians and their patients in the United States, Canada, and internationally. The company's tests include multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; proactive health and wellness screening; and preimplantation embryo testing and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.
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