Q4 2020 EPS Estimates for Invitae Co. Increased by Oppenheimer (NYSE:NVTA)


Share on StockTwits

Invitae Co. (NYSE:NVTA) – Equities research analysts at Oppenheimer raised their Q4 2020 EPS estimates for shares of Invitae in a research note issued to investors on Monday, January 11th. Oppenheimer analyst K. Degeeter now expects that the medical research company will post earnings of ($0.49) per share for the quarter, up from their previous estimate of ($0.51). Oppenheimer also issued estimates for Invitae’s FY2021 earnings at ($1.89) EPS and FY2022 earnings at ($1.70) EPS.

Invitae (NYSE:NVTA) last issued its quarterly earnings data on Thursday, November 5th. The medical research company reported ($0.78) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.18). Invitae had a negative return on equity of 81.19% and a negative net margin of 183.50%. The business had revenue of $68.73 million for the quarter, compared to analysts’ expectations of $59.36 million. During the same period in the previous year, the business posted ($0.82) earnings per share. The company’s revenue for the quarter was up 21.6% on a year-over-year basis.

Several other brokerages also recently weighed in on NVTA. BidaskClub downgraded shares of Invitae from a “buy” rating to a “hold” rating in a report on Wednesday, December 16th. SVB Leerink lifted their target price on shares of Invitae from $34.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, November 3rd. JPMorgan Chase & Co. downgraded shares of Invitae from an “overweight” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Wednesday, October 14th. LADENBURG THALM/SH SH downgraded shares of Invitae from a “buy” rating to a “neutral” rating in a report on Friday, November 6th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Invitae from a “sell” rating to a “hold” rating in a research report on Wednesday, December 2nd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $40.16.

Shares of NYSE:NVTA opened at $51.37 on Thursday. The company has a market cap of $9.08 billion, a price-to-earnings ratio of -13.21 and a beta of 2.16. The firm’s 50-day simple moving average is $49.01 and its 200-day simple moving average is $40.95. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.68. Invitae has a fifty-two week low of $7.41 and a fifty-two week high of $61.59.

Several hedge funds have recently made changes to their positions in NVTA. Flagship Harbor Advisors LLC boosted its stake in shares of Invitae by 100.0% in the third quarter. Flagship Harbor Advisors LLC now owns 600 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 300 shares during the period. Sonora Investment Management LLC bought a new position in Invitae during the 4th quarter valued at $29,000. Captrust Financial Advisors bought a new position in Invitae during the 2nd quarter valued at $30,000. Atticus Wealth Management LLC bought a new position in Invitae during the 3rd quarter valued at $35,000. Finally, Atlas Private Wealth Advisors bought a new position in Invitae during the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

In other news, insider Jason W. Myers sold 253,912 shares of the company’s stock in a transaction on Friday, December 18th. The shares were sold at an average price of $47.49, for a total value of $12,058,280.88. Following the completion of the transaction, the insider now directly owns 1,211,099 shares in the company, valued at $57,515,091.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katherine Stueland sold 1,000 shares of the company’s stock in a transaction on Friday, November 13th. The shares were sold at an average price of $48.00, for a total transaction of $48,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 714,775 shares of company stock valued at $35,327,402. 2.90% of the stock is owned by insiders.

About Invitae

Invitae Corporation, a medical genetics 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. It offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, metabolic conditions, and rare diseases; prenatal and perinatal genetic tests; and non-invasive prenatal screening products.

See Also: Range Trading

Earnings History and Estimates for Invitae (NYSE:NVTA)

Receive News & Ratings for Invitae Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invitae and related companies with MarketBeat.com's FREE daily email newsletter.