Wall Street brokerages expect Accelerate Diagnostics Inc (NASDAQ:AXDX) to announce sales of $2.17 million for the current quarter, according to Zacks. Three analysts have made estimates for Accelerate Diagnostics’ earnings. The highest sales estimate is $2.59 million and the lowest is $1.60 million. Accelerate Diagnostics reported sales of $700,000.00 during the same quarter last year, which would suggest a positive year over year growth rate of 210%. The business is scheduled to announce its next quarterly earnings results on Thursday, August 2nd.
On average, analysts expect that Accelerate Diagnostics will report full year sales of $19.97 million for the current fiscal year, with estimates ranging from $18.60 million to $20.70 million. For the next financial year, analysts expect that the firm will post sales of $71.99 million per share, with estimates ranging from $60.70 million to $79.35 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Accelerate Diagnostics.
Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings results on Wednesday, May 9th. The medical research company reported ($0.27) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.05. Accelerate Diagnostics had a negative return on equity of 51.23% and a negative net margin of 1,568.29%. The firm had revenue of $0.80 million for the quarter, compared to the consensus estimate of $2.64 million.
A number of analysts recently weighed in on AXDX shares. BidaskClub upgraded Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 24th. Zacks Investment Research downgraded Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Monday, May 14th. ValuEngine upgraded Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research report on Monday, June 11th. Finally, Craig Hallum started coverage on Accelerate Diagnostics in a research report on Thursday, May 24th. They set a “hold” rating and a $25.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $29.50.
In other news, Director Jack W. Schuler bought 65,000 shares of the firm’s stock in a transaction on Monday, May 14th. The shares were bought at an average cost of $19.97 per share, for a total transaction of $1,298,050.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack W. Schuler bought 100,000 shares of the firm’s stock in a transaction on Friday, May 11th. The shares were purchased at an average price of $19.33 per share, for a total transaction of $1,933,000.00. The disclosure for this purchase can be found here. 49.30% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Lee Financial Co purchased a new stake in Accelerate Diagnostics during the first quarter worth $128,000. UBS Asset Management Americas Inc. purchased a new stake in Accelerate Diagnostics during the fourth quarter worth $233,000. Teacher Retirement System of Texas purchased a new stake in Accelerate Diagnostics during the fourth quarter worth $292,000. MetLife Investment Advisors LLC purchased a new stake in shares of Accelerate Diagnostics in the fourth quarter valued at $297,000. Finally, Cowen Inc. purchased a new stake in shares of Accelerate Diagnostics in the first quarter valued at $267,000. Institutional investors own 47.22% of the company’s stock.
Accelerate Diagnostics opened at $22.00 on Friday, MarketBeat.com reports. The company has a current ratio of 27.80, a quick ratio of 26.44 and a debt-to-equity ratio of 0.65. Accelerate Diagnostics has a 1-year low of $16.75 and a 1-year high of $30.35. The company has a market capitalization of $1.27 billion, a P/E ratio of -18.97 and a beta of 2.04.
About Accelerate Diagnostics
Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States. It offers Accelerate Pheno system, an in vitro diagnostic platform for the identification and antibiotic susceptibility testing of pathogens associated with serious or health care-associated infections, including gram-positive and gram-negative organisms, as well as yeast.
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