Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Expected to Announce Quarterly Sales of $3.55 Million


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Analysts expect Accelerate Diagnostics, Inc. (NASDAQ:AXDX) to announce $3.55 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Accelerate Diagnostics’ earnings. The lowest sales estimate is $3.20 million and the highest is $3.90 million. Accelerate Diagnostics posted sales of $2.34 million in the same quarter last year, which would indicate a positive year over year growth rate of 51.7%. The firm is scheduled to issue its next quarterly earnings results on Thursday, May 6th.

On average, analysts expect that Accelerate Diagnostics will report full-year sales of $17.40 million for the current financial year, with estimates ranging from $13.52 million to $20.95 million. For the next fiscal year, analysts anticipate that the business will report sales of $45.42 million, with estimates ranging from $36.26 million to $54.58 million. Zacks’ sales averages are an average based on a survey of research firms that cover Accelerate Diagnostics.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings data on Monday, February 22nd. The medical research company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.01). The firm had revenue of $3.10 million for the quarter, compared to the consensus estimate of $3.10 million.

Separately, Zacks Investment Research upgraded shares of Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research report on Tuesday, April 27th.

Shares of Accelerate Diagnostics stock opened at $7.19 on Wednesday. The stock has a market capitalization of $440.21 million, a price-to-earnings ratio of -4.92 and a beta of 2.35. Accelerate Diagnostics has a 1-year low of $6.82 and a 1-year high of $19.11. The firm’s 50-day moving average price is $8.43 and its two-hundred day moving average price is $9.18.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Accelerate Diagnostics by 3.2% during the fourth quarter. BlackRock Inc. now owns 2,304,788 shares of the medical research company’s stock worth $17,471,000 after acquiring an additional 72,439 shares in the last quarter. Credit Suisse AG increased its position in shares of Accelerate Diagnostics by 6.9% during the fourth quarter. Credit Suisse AG now owns 1,765,390 shares of the medical research company’s stock worth $13,381,000 after acquiring an additional 113,546 shares in the last quarter. Griffin Asset Management Inc. increased its position in shares of Accelerate Diagnostics by 2.1% during the fourth quarter. Griffin Asset Management Inc. now owns 1,469,820 shares of the medical research company’s stock worth $11,141,000 after acquiring an additional 30,207 shares in the last quarter. Baird Financial Group Inc. grew its position in Accelerate Diagnostics by 2.7% in the fourth quarter. Baird Financial Group Inc. now owns 977,385 shares of the medical research company’s stock valued at $7,409,000 after purchasing an additional 26,000 shares in the last quarter. Finally, FMR LLC grew its position in Accelerate Diagnostics by 16.1% in the first quarter. FMR LLC now owns 857,069 shares of the medical research company’s stock valued at $18,016,000 after purchasing an additional 118,620 shares in the last quarter. Institutional investors own 51.79% of the company’s stock.

Accelerate Diagnostics Company Profile

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States, Europe, and the Middle East. The company 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.

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Earnings History and Estimates for Accelerate Diagnostics (NASDAQ:AXDX)

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