Equities analysts expect that InVitae Corp (NYSE:NVTA) will report earnings of ($0.47) per share for the current quarter, Zacks reports. Two analysts have made estimates for InVitae’s earnings, with estimates ranging from ($0.52) to ($0.43). InVitae reported earnings of ($0.57) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 17.5%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, November 7th.
On average, analysts expect that InVitae will report full year earnings of ($2.03) per share for the current fiscal year, with EPS estimates ranging from ($2.12) to ($1.97). For the next fiscal year, analysts forecast that the business will post earnings of ($1.39) per share, with EPS estimates ranging from ($1.68) to ($1.16). Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that cover InVitae.
InVitae (NYSE:NVTA) last posted its quarterly earnings data on Tuesday, August 7th. The medical research company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.07. The company had revenue of $37.31 million for the quarter, compared to the consensus estimate of $30.70 million. InVitae had a negative return on equity of 111.27% and a negative net margin of 125.03%.
Several research analysts have recently commented on NVTA shares. ValuEngine upgraded InVitae from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 29th. Zacks Investment Research upgraded InVitae from a “hold” rating to a “strong-buy” rating and set a $10.00 target price for the company in a research report on Thursday, July 26th. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $11.00.
A number of large investors have recently added to or reduced their stakes in NVTA. Nikko Asset Management Americas Inc. acquired a new position in InVitae during the 3rd quarter valued at approximately $136,000. Bank of Montreal Can acquired a new position in InVitae during the 2nd quarter valued at approximately $155,000. Metropolitan Life Insurance Co. NY boosted its position in InVitae by 67.5% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 22,273 shares of the medical research company’s stock valued at $164,000 after purchasing an additional 8,979 shares during the period. Voya Investment Management LLC boosted its position in InVitae by 44.2% during the 2nd quarter. Voya Investment Management LLC now owns 24,424 shares of the medical research company’s stock valued at $180,000 after purchasing an additional 7,488 shares during the period. Finally, MetLife Investment Advisors LLC boosted its position in InVitae by 97.2% during the 2nd quarter. MetLife Investment Advisors LLC now owns 31,538 shares of the medical research company’s stock valued at $232,000 after purchasing an additional 15,543 shares during the period. Institutional investors and hedge funds own 73.78% of the company’s stock.
Shares of NVTA opened at $14.34 on Wednesday. The company has a market capitalization of $1.01 billion, a PE ratio of -5.41 and a beta of 1.84. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.42. InVitae has a 52 week low of $4.35 and a 52 week high of $18.38.
InVitae Company Profile
Invitae Corporation, a genetic information 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. The company's tests include multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; proactive health and wellness screening; and preimplantation embryo testing and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.
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