Wall Street brokerages expect that Accelerate Diagnostics, Inc. (NASDAQ:AXDX) will post sales of $2.79 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Accelerate Diagnostics’ earnings, with the highest sales estimate coming in at $3.13 million and the lowest estimate coming in at $2.20 million. Accelerate Diagnostics posted sales of $500,000.00 during the same quarter last year, which would suggest a positive year over year growth rate of 458%. The business is scheduled to report its next quarterly earnings results on Friday, May 4th.
According to Zacks, analysts expect that Accelerate Diagnostics will report full year sales of $24.30 million for the current year, with estimates ranging from $22.22 million to $25.39 million. For the next financial year, analysts expect that the business will report sales of $78.24 million per share, with estimates ranging from $78.10 million to $78.37 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Accelerate Diagnostics.
Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings data on Thursday, February 15th. The medical research company reported ($0.27) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.05. The business had revenue of $2.10 million for the quarter. Accelerate Diagnostics had a negative net margin of 1,520.99% and a negative return on equity of 54.66%.
A number of brokerages have weighed in on AXDX. BidaskClub cut shares of Accelerate Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday, March 28th. ValuEngine cut shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a report on Friday, February 9th. Zacks Investment Research upgraded shares of Accelerate Diagnostics from a “sell” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, BTIG Research reiterated a “hold” rating on shares of Accelerate Diagnostics in a report on Sunday, February 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $33.00.
Shares of AXDX opened at $24.50 on Friday. The stock has a market capitalization of $1,392.04, a price-to-earnings ratio of -21.12 and a beta of 2.13. Accelerate Diagnostics has a fifty-two week low of $16.75 and a fifty-two week high of $30.45.
In other news, Director Jack W. Schuler purchased 15,000 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were purchased at an average price of $25.15 per share, for a total transaction of $377,250.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack W. Schuler purchased 10,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average price of $25.21 per share, for a total transaction of $252,100.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 45,100 shares of company stock worth $1,130,850. Corporate insiders own 50.00% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. lifted its position in Accelerate Diagnostics by 5.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 123,537 shares of the medical research company’s stock valued at $2,774,000 after purchasing an additional 6,301 shares during the period. Baird Financial Group Inc. bought a new position in Accelerate Diagnostics during the fourth quarter valued at approximately $2,584,000. AXA lifted its position in Accelerate Diagnostics by 40.2% during the third quarter. AXA now owns 432,647 shares of the medical research company’s stock valued at $9,713,000 after purchasing an additional 124,035 shares during the period. Deutsche Bank AG lifted its position in Accelerate Diagnostics by 1,236.9% during the fourth quarter. Deutsche Bank AG now owns 312,470 shares of the medical research company’s stock valued at $8,185,000 after purchasing an additional 289,098 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new position in Accelerate Diagnostics during the fourth quarter valued at approximately $643,000. Institutional investors own 44.86% of the company’s stock.
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About Accelerate Diagnostics
Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States. It 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, as well as yeast.
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