Brokerages expect Invitae Co. (NYSE:NVTA – Get Rating) to report sales of $130.38 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Invitae’s earnings, with estimates ranging from $125.30 million to $138.81 million. Invitae posted sales of $103.62 million during the same quarter last year, which suggests a positive year-over-year growth rate of 25.8%. The company is scheduled to report its next earnings report on Monday, January 1st.
On average, analysts expect that Invitae will report full-year sales of $642.44 million for the current fiscal year, with estimates ranging from $640.00 million to $648.45 million. For the next financial year, analysts expect that the company will post sales of $874.47 million, with estimates ranging from $863.10 million to $881.42 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Invitae.
Invitae (NYSE:NVTA – Get Rating) last issued its quarterly earnings data on Thursday, February 24th. The medical research company reported ($0.81) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.74) by ($0.07). Invitae had a negative return on equity of 23.52% and a negative net margin of 139.38%. The company had revenue of $126.12 million for the quarter, compared to the consensus estimate of $125.90 million. During the same quarter last year, the business earned ($0.63) earnings per share. Invitae’s revenue was up 25.6% compared to the same quarter last year.
A number of brokerages have recently commented on NVTA. Morgan Stanley dropped their price target on Invitae from $37.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 15th. Zacks Investment Research lowered Invitae from a “buy” rating to a “hold” rating in a research report on Friday, February 18th. SVB Leerink reduced their price objective on Invitae from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, February 25th. Finally, Raymond James reduced their price objective on Invitae from $36.00 to $15.00 and set an “outperform” rating on the stock in a research report on Monday, February 28th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Invitae presently has an average rating of “Hold” and a consensus price target of $23.29.
NVTA traded up $0.47 during trading on Friday, hitting $7.32. The company’s stock had a trading volume of 111,213 shares, compared to its average volume of 6,031,241. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -2.52 and a beta of 1.76. Invitae has a twelve month low of $6.05 and a twelve month high of $41.03. The business’s fifty day simple moving average is $8.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 8.18 and a quick ratio of 7.95.
In related news, insider Robert L. Nussbaum sold 19,588 shares of Invitae stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $6.69, for a total value of $131,043.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Thomas Brida sold 17,987 shares of Invitae stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $6.69, for a total transaction of $120,333.03. The disclosure for this sale can be found here. Insiders have sold a total of 74,611 shares of company stock worth $499,148 over the last 90 days. Insiders own 1.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Invitae in the 4th quarter worth approximately $31,790,000. Walleye Capital LLC purchased a new position in shares of Invitae in the 4th quarter worth $591,000. Vienna Asset Management LLC purchased a new position in Invitae in the fourth quarter valued at about $312,000. Barclays PLC grew its stake in shares of Invitae by 139.8% during the fourth quarter. Barclays PLC now owns 350,842 shares of the medical research company’s stock valued at $5,357,000 after acquiring an additional 204,536 shares in the last quarter. Finally, JustInvest LLC grew its stake in shares of Invitae by 141.4% during the fourth quarter. JustInvest LLC now owns 22,543 shares of the medical research company’s stock valued at $344,000 after acquiring an additional 13,206 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.
Invitae Company Profile (Get Rating)
Invitae Corp. engages in the provision of genetic information into mainstream medical practice. It includes comprehensive panels for hereditary conditions in cancer, cardiology, neurology, pediatric, and rare diseases. The company was founded by Randal W. Scott and Sean E. George on January 13, 2010 and is headquartered in San Francisco, CA.
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