Wall Street analysts expect InVitae Corp (NYSE:NVTA) to report ($0.47) earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have issued estimates for InVitae’s earnings. The highest EPS estimate is ($0.44) and the lowest is ($0.53). InVitae reported earnings of ($0.66) per share in the same quarter last year, which indicates a positive year over year growth rate of 28.8%. The business is scheduled to report its next quarterly earnings report on Wednesday, May 8th.
On average, analysts expect that InVitae will report full-year earnings of ($1.81) per share for the current financial year, with EPS estimates ranging from ($2.17) to ($1.56). For the next financial year, analysts expect that the business will post earnings of ($1.38) per share, with EPS estimates ranging from ($2.16) to ($0.81). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for InVitae.
InVitae (NYSE:NVTA) last announced its quarterly earnings data on Tuesday, February 19th. The medical research company reported ($0.40) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.02. The company had revenue of $45.36 million during the quarter, compared to the consensus estimate of $40.87 million. InVitae had a negative return on equity of 88.93% and a negative net margin of 87.58%.
A number of research firms recently commented on NVTA. Oppenheimer boosted their price target on InVitae from $21.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Chardan Capital began coverage on InVitae in a report on Monday, March 4th. They issued a “buy” rating and a $29.00 price target on the stock. Benchmark boosted their price target on InVitae from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, February 20th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $20.00 price target on shares of InVitae in a report on Wednesday, February 20th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut InVitae from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $22.80.
NYSE NVTA opened at $24.74 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.56 and a current ratio of 4.56. InVitae has a 12 month low of $5.31 and a 12 month high of $26.77. The company has a market capitalization of $1.92 billion, a P/E ratio of -12.75 and a beta of 2.25.
In other news, CFO Shelly D. Guyer sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $20.00, for a total transaction of $80,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO E Lee Bendekgey sold 4,650 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $19.62, for a total value of $91,233.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,650 shares of company stock worth $787,333. 8.70% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of InVitae by 45.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,780 shares of the medical research company’s stock worth $53,000 after acquiring an additional 1,486 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of InVitae during the 4th quarter worth approximately $58,000. Great West Life Assurance Co. Can raised its holdings in shares of InVitae by 173.1% during the 4th quarter. Great West Life Assurance Co. Can now owns 7,920 shares of the medical research company’s stock worth $84,000 after acquiring an additional 5,020 shares in the last quarter. Focused Wealth Management Inc purchased a new stake in shares of InVitae during the 4th quarter worth approximately $88,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of InVitae during the 4th quarter worth approximately $108,000. 74.69% of the stock is currently owned by institutional investors and hedge funds.
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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