InVitae Corp (NVTA) Expected to Post Quarterly Sales of $39.96 Million

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Wall Street brokerages expect that InVitae Corp (NYSE:NVTA) will report sales of $39.96 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for InVitae’s earnings, with estimates ranging from $39.76 million to $40.11 million. InVitae posted sales of $25.40 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 57.3%. The firm is scheduled to report its next quarterly earnings report on Monday, February 11th.

On average, analysts expect that InVitae will report full-year sales of $142.32 million for the current year, with estimates ranging from $142.10 million to $142.45 million. For the next fiscal year, analysts expect that the company will post sales of $200.10 million, with estimates ranging from $197.40 million to $202.52 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for InVitae.

InVitae (NYSE:NVTA) last announced its quarterly earnings data on Wednesday, November 7th. The medical research company reported ($0.45) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.02. The firm had revenue of $37.37 million during the quarter, compared to the consensus estimate of $34.80 million. InVitae had a negative net margin of 109.60% and a negative return on equity of 103.37%. The firm’s revenue was up 105.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.57) earnings per share.

NVTA has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of InVitae from a “buy” rating to a “hold” rating in a research report on Saturday, August 11th. ValuEngine upgraded shares of InVitae from a “hold” rating to a “buy” rating in a research report on Thursday, August 9th. JPMorgan Chase & Co. raised their price objective on shares of InVitae to $16.00 and gave the company an “overweight” rating in a research report on Thursday, November 8th. Finally, William Blair restated a “market perform” rating on shares of InVitae in a research report on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. InVitae presently has a consensus rating of “Buy” and a consensus price target of $12.40.

Several hedge funds have recently bought and sold shares of NVTA. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of InVitae during the 3rd quarter valued at approximately $68,841,000. BlackRock Inc. lifted its position in shares of InVitae by 76.7% during the 2nd quarter. BlackRock Inc. now owns 4,816,353 shares of the medical research company’s stock valued at $35,400,000 after acquiring an additional 2,090,818 shares during the period. ARK Investment Management LLC lifted its position in shares of InVitae by 27.2% during the 2nd quarter. ARK Investment Management LLC now owns 8,814,227 shares of the medical research company’s stock valued at $64,785,000 after acquiring an additional 1,886,952 shares during the period. Millennium Management LLC lifted its position in shares of InVitae by 694.6% during the 2nd quarter. Millennium Management LLC now owns 536,056 shares of the medical research company’s stock valued at $3,940,000 after acquiring an additional 468,596 shares during the period. Finally, Private Wealth Partners LLC acquired a new stake in shares of InVitae during the 2nd quarter valued at approximately $2,414,000. Institutional investors own 79.76% of the company’s stock.

NYSE:NVTA traded down $0.13 during mid-day trading on Friday, reaching $12.11. The stock had a trading volume of 1,049,500 shares, compared to its average volume of 1,055,363. The company has a quick ratio of 3.90, a current ratio of 3.90 and a debt-to-equity ratio of 0.29. The company has a market cap of $990.92 million, a P/E ratio of -4.57 and a beta of 1.84. InVitae has a twelve month low of $4.35 and a twelve month high of $18.38.

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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