$102.01 Million in Sales Expected for Invitae Co. (NYSE:NVTA) This Quarter


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Equities research analysts predict that Invitae Co. (NYSE:NVTA) will report sales of $102.01 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Invitae’s earnings, with the lowest sales estimate coming in at $100.30 million and the highest estimate coming in at $104.90 million. Invitae reported sales of $64.25 million in the same quarter last year, which would suggest a positive year over year growth rate of 58.8%. The company is expected to issue its next quarterly earnings results on Tuesday, May 4th.

According to Zacks, analysts expect that Invitae will report full year sales of $458.20 million for the current year, with estimates ranging from $450.30 million to $473.48 million. For the next financial year, analysts forecast that the firm will report sales of $671.69 million, with estimates ranging from $602.30 million to $702.18 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Invitae.

Invitae (NYSE:NVTA) last released its quarterly earnings results on Tuesday, February 16th. The medical research company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.08). Invitae had a negative return on equity of 81.19% and a negative net margin of 183.50%. The firm had revenue of $100.43 million for the quarter, compared to analyst estimates of $97.87 million.

NVTA has been the topic of a number of research reports. Zacks Investment Research cut Invitae from a “hold” rating to a “sell” rating in a research note on Tuesday, February 23rd. Morgan Stanley upped their price target on Invitae from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 25th. Oppenheimer upgraded Invitae from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research note on Monday. They noted that the move was a valuation call. LADENBURG THALM/SH SH raised Invitae from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $46.50 to $58.00 in a research report on Thursday, February 25th. Finally, SVB Leerink upped their price objective on Invitae from $64.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, February 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $45.88.

In related news, CEO Sean E. George sold 8,675 shares of the stock in a transaction on Thursday, January 21st. The stock was sold at an average price of $53.80, for a total value of $466,715.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Katherine Stueland sold 5,000 shares of the stock in a transaction on Thursday, February 25th. The shares were sold at an average price of $39.96, for a total value of $199,800.00. Insiders sold 127,441 shares of company stock worth $5,617,770 in the last three months. 2.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of NVTA. Norges Bank purchased a new position in shares of Invitae during the fourth quarter worth about $60,491,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Invitae by 89.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,112,725 shares of the medical research company’s stock worth $88,333,000 after purchasing an additional 997,639 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Invitae by 40.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 838,343 shares of the medical research company’s stock worth $35,051,000 after buying an additional 240,536 shares during the period. Thornburg Investment Management Inc. acquired a new stake in shares of Invitae during the fourth quarter worth about $8,739,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Invitae during the third quarter worth about $7,993,000. 78.60% of the stock is currently owned by institutional investors.

NYSE:NVTA traded up $1.14 during trading hours on Monday, reaching $38.50. 61,211 shares of the stock were exchanged, compared to its average volume of 4,729,603. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average of $40.49 and a two-hundred day moving average of $46.28. Invitae has a twelve month low of $12.42 and a twelve month high of $61.59. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of -9.97 and a beta of 2.11.

Invitae Company Profile

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.

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Earnings History and Estimates for Invitae (NYSE:NVTA)

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