Analysts forecast that Accelerate Diagnostics Inc (NASDAQ:AXDX) will announce $3.15 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Accelerate Diagnostics’ earnings, with estimates ranging from $2.30 million to $4.18 million. Accelerate Diagnostics reported sales of $1.69 million in the same quarter last year, which indicates a positive year-over-year growth rate of 86.4%. The company is expected to announce its next earnings report on Monday, August 5th.

According to Zacks, analysts expect that Accelerate Diagnostics will report full-year sales of $15.71 million for the current fiscal year, with estimates ranging from $13.25 million to $20.57 million. For the next fiscal year, analysts anticipate that the business will report sales of $44.62 million, with estimates ranging from $33.66 million to $55.57 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Accelerate Diagnostics.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings results on Thursday, May 9th. The medical research company reported ($0.40) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.03. Accelerate Diagnostics had a negative net margin of 1,352.80% and a negative return on equity of 116.58%. The firm had revenue of $1.75 million for the quarter, compared to the consensus estimate of $2.12 million.

Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. BidaskClub lowered shares of Accelerate Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. ValuEngine raised shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating in a report on Friday. Finally, BTIG Research reissued a “hold” rating on shares of Accelerate Diagnostics in a report on Sunday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $18.75.

A number of hedge funds have recently made changes to their positions in AXDX. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Accelerate Diagnostics by 6.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,392 shares of the medical research company’s stock valued at $303,000 after buying an additional 836 shares during the period. Reilly Financial Advisors LLC acquired a new position in shares of Accelerate Diagnostics in the 1st quarter valued at about $32,000. Swiss National Bank boosted its holdings in shares of Accelerate Diagnostics by 2.6% in the 1st quarter. Swiss National Bank now owns 59,300 shares of the medical research company’s stock valued at $1,246,000 after buying an additional 1,500 shares during the period. Legal & General Group Plc boosted its holdings in shares of Accelerate Diagnostics by 45.2% in the 4th quarter. Legal & General Group Plc now owns 5,995 shares of the medical research company’s stock valued at $69,000 after buying an additional 1,866 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Accelerate Diagnostics by 15.9% in the 4th quarter. Bank of America Corp DE now owns 28,477 shares of the medical research company’s stock valued at $327,000 after buying an additional 3,907 shares during the period. 48.90% of the stock is owned by institutional investors.

AXDX stock traded down $1.73 during mid-day trading on Monday, hitting $18.90. 328,700 shares of the company were exchanged, compared to its average volume of 313,767. The firm has a market cap of $1.11 billion, a P/E ratio of -11.67 and a beta of 3.07. The company has a debt-to-equity ratio of 2.09, a current ratio of 22.88 and a quick ratio of 21.89. Accelerate Diagnostics has a twelve month low of $10.23 and a twelve month high of $24.75.

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. 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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