Accelerate Diagnostics (NASDAQ:AXDX) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
Several other analysts have also issued reports on the stock. ValuEngine upgraded shares of Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research report on Monday, June 11th. Craig Hallum initiated coverage on shares of Accelerate Diagnostics in a research report on Thursday, May 24th. They set a “hold” rating and a $25.00 target price for the company. Finally, Zacks Investment Research lowered shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research report on Monday, May 14th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Accelerate Diagnostics has an average rating of “Hold” and an average target price of $29.50.
Shares of AXDX stock opened at $20.55 on Friday. Accelerate Diagnostics has a 52 week low of $16.75 and a 52 week high of $30.35. The company has a market capitalization of $1.14 billion, a PE ratio of -17.72 and a beta of 2.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 27.80 and a quick ratio of 26.44.
Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings results on Wednesday, May 9th. The medical research company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.05. Accelerate Diagnostics had a negative net margin of 1,568.29% and a negative return on equity of 51.23%. The firm had revenue of $0.80 million during the quarter, compared to analyst estimates of $2.64 million. equities research analysts anticipate that Accelerate Diagnostics will post -1.38 EPS for the current fiscal year.
In other Accelerate Diagnostics news, Director Jack W. Schuler bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The stock was bought at an average cost of $19.33 per share, for a total transaction of $1,933,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack W. Schuler bought 65,000 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The shares were acquired at an average price of $19.97 per share, with a total value of $1,298,050.00. The disclosure for this purchase can be found here. Insiders own 49.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG grew 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 buying an additional 289,098 shares during the period. BlackRock Inc. lifted its holdings in Accelerate Diagnostics by 1.1% during the fourth quarter. BlackRock Inc. now owns 1,683,028 shares of the medical research company’s stock valued at $44,095,000 after purchasing an additional 17,848 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in Accelerate Diagnostics during the fourth quarter valued at approximately $5,311,000. Teacher Retirement System of Texas purchased a new position in Accelerate Diagnostics during the fourth quarter valued at approximately $292,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Accelerate Diagnostics by 23.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 103,352 shares of the medical research company’s stock valued at $2,708,000 after purchasing an additional 19,606 shares in the last quarter. Institutional investors own 47.22% of the company’s stock.
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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