Accelerate Diagnostics (NASDAQ:AXDX) issued its quarterly earnings results on Tuesday. The medical research company reported ($0.41) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.41), Morningstar.com reports. Accelerate Diagnostics had a negative return on equity of 67.75% and a negative net margin of 1,405.87%. The firm had revenue of $1.36 million during the quarter, compared to analyst estimates of $2.89 million.
Shares of AXDX stock traded down $1.88 on Wednesday, reaching $14.42. 1,185,586 shares of the company’s stock were exchanged, compared to its average volume of 252,879. Accelerate Diagnostics has a 52 week low of $13.25 and a 52 week high of $30.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 25.67 and a current ratio of 27.12. The firm has a market capitalization of $875.79 million, a P/E ratio of -12.43 and a beta of 2.49.
A number of equities research analysts recently issued reports on the company. BidaskClub raised Accelerate Diagnostics from a “strong sell” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research raised Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. JPMorgan Chase & Co. lowered Accelerate Diagnostics from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $25.00 to $16.00 in a research note on Wednesday. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $24.00 price target on shares of Accelerate Diagnostics in a research note on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $21.67.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. purchased a new position in Accelerate Diagnostics during the 3rd quarter worth $115,000. Cornerstone Wealth Management LLC purchased a new position in Accelerate Diagnostics during the 2nd quarter worth $210,000. Trellus Management Company LLC purchased a new position in Accelerate Diagnostics during the 3rd quarter worth $566,000. Thompson Investment Management Inc. increased its holdings in Accelerate Diagnostics by 10.6% during the 2nd quarter. Thompson Investment Management Inc. now owns 31,200 shares of the medical research company’s stock worth $696,000 after purchasing an additional 3,000 shares during the period. Finally, CIBC Private Wealth Group LLC increased its holdings in Accelerate Diagnostics by 33.8% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 60,550 shares of the medical research company’s stock worth $1,350,000 after purchasing an additional 15,305 shares during the period. Institutional investors own 45.34% of the company’s stock.
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Accelerate Diagnostics Company Profile
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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