Natera (NTRA) Price Target Raised to $29.00 at Canaccord Genuity

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Natera (NASDAQ:NTRA) had its target price raised by Canaccord Genuity from $25.00 to $29.00 in a research report sent to investors on Thursday morning, The Fly reports. Canaccord Genuity currently has a buy rating on the medical research company’s stock.

Several other brokerages also recently commented on NTRA. Zacks Investment Research downgraded shares of Natera from a buy rating to a hold rating in a report on Tuesday, August 14th. TheStreet upgraded shares of Natera from a d rating to a c- rating in a report on Thursday, August 9th. Craig Hallum lifted their target price on shares of Natera from $23.00 to $30.00 and gave the stock a buy rating in a report on Thursday, August 9th. Piper Jaffray Companies lifted their target price on shares of Natera to $27.00 and gave the stock an overweight rating in a report on Thursday, August 9th. Finally, BidaskClub upgraded shares of Natera from a buy rating to a strong-buy rating in a report on Tuesday, July 17th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Natera has a consensus rating of Buy and an average target price of $23.14.

Shares of NTRA opened at $25.22 on Thursday. The firm has a market capitalization of $1.54 billion, a P/E ratio of -10.51 and a beta of 2.12. Natera has a one year low of $8.60 and a one year high of $26.21. The company has a current ratio of 1.69, a quick ratio of 1.56 and a debt-to-equity ratio of -3.32.

Natera (NASDAQ:NTRA) last announced its earnings results on Wednesday, August 8th. The medical research company reported ($0.55) EPS for the quarter, hitting the consensus estimate of ($0.55). The firm had revenue of $63.07 million for the quarter, compared to the consensus estimate of $61.71 million. Natera had a negative net margin of 59.07% and a negative return on equity of 752.93%. The business’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.55) EPS. research analysts expect that Natera will post -2.05 EPS for the current fiscal year.

In other news, CFO Michael Burkes Brophy sold 26,870 shares of the business’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $18.29, for a total transaction of $491,452.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Steven Leonard Chapman sold 86,919 shares of the business’s stock in a transaction dated Monday, June 25th. The stock was sold at an average price of $18.00, for a total transaction of $1,564,542.00. Following the transaction, the chief operating officer now owns 3,588 shares in the company, valued at approximately $64,584. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,797 shares of company stock worth $2,080,794. Insiders own 13.18% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Northern Trust Corp increased its holdings in shares of Natera by 1.5% during the 1st quarter. Northern Trust Corp now owns 375,674 shares of the medical research company’s stock worth $3,483,000 after purchasing an additional 5,428 shares during the period. Swiss National Bank increased its holdings in shares of Natera by 13.2% during the 1st quarter. Swiss National Bank now owns 47,900 shares of the medical research company’s stock worth $444,000 after purchasing an additional 5,600 shares during the period. State of Wisconsin Investment Board increased its holdings in shares of Natera by 30.4% during the 2nd quarter. State of Wisconsin Investment Board now owns 30,000 shares of the medical research company’s stock worth $565,000 after purchasing an additional 7,000 shares during the period. Trexquant Investment LP increased its holdings in shares of Natera by 76.6% during the 2nd quarter. Trexquant Investment LP now owns 22,643 shares of the medical research company’s stock worth $426,000 after purchasing an additional 9,820 shares during the period. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Natera during the 2nd quarter worth about $200,000. Institutional investors own 73.61% of the company’s stock.

Natera Company Profile

Natera, Inc, a diagnostics company, provides preconception and prenatal genetic testing services. It primarily offers Panorama, a non-invasive prenatal test that screens for chromosomal abnormalities of a fetus typically with a blood draw from the mother; Vistara, a single-gene mutations screening test to identify single-gene disorder; Horizon carrier screening to determine carrier status for various genetic diseases that could be passed on to the carrier's children; and Spectrum pre-implantation genetic screening and Spectrum pre-implantation genetic diagnosis to analyze chromosomal anomalies or inherited genetic conditions during an in vitro fertilization cycle.

Further Reading: Leveraged Buyout (LBO)

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