InVitae Corp (NVTA) Expected to Announce Quarterly Sales of $25.70 Million
Wall Street analysts predict that InVitae Corp (NYSE:NVTA) will report sales of $25.70 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for InVitae’s earnings, with the highest sales estimate coming in at $26.17 million and the lowest estimate coming in at $25.02 million. InVitae reported sales of $10.34 million in the same quarter last year, which indicates a positive year-over-year growth rate of 148.5%. The business is scheduled to announce its next quarterly earnings results on Monday, May 14th.
According to Zacks, analysts expect that InVitae will report full year sales of $25.70 million for the current year, with estimates ranging from $120.30 million to $127.32 million. For the next fiscal year, analysts expect that the firm will post sales of $185.27 million per share, with estimates ranging from $176.20 million to $196.61 million. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for InVitae.
InVitae (NYSE:NVTA) last released its earnings results on Monday, February 12th. The medical research company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.17). The firm had revenue of $25.40 million during the quarter, compared to analyst estimates of $24.18 million. InVitae had a negative net margin of 180.85% and a negative return on equity of 134.68%. InVitae’s quarterly revenue was up 175.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.69) EPS.
A number of hedge funds have recently modified their holdings of NVTA. Park West Asset Management LLC bought a new stake in InVitae in the 4th quarter worth about $23,916,000. Perceptive Advisors LLC grew its position in InVitae by 190.1% in the 3rd quarter. Perceptive Advisors LLC now owns 1,884,500 shares of the medical research company’s stock worth $17,657,000 after purchasing an additional 1,235,000 shares in the last quarter. Orbimed Advisors LLC grew its position in InVitae by 232.5% in the 3rd quarter. Orbimed Advisors LLC now owns 1,518,197 shares of the medical research company’s stock worth $14,226,000 after purchasing an additional 1,061,531 shares in the last quarter. ARK Investment Management LLC grew its position in InVitae by 44.1% in the 4th quarter. ARK Investment Management LLC now owns 2,104,798 shares of the medical research company’s stock worth $19,112,000 after purchasing an additional 643,860 shares in the last quarter. Finally, Ark Investment Management LLC grew its position in InVitae by 30.4% in the 2nd quarter. Ark Investment Management LLC now owns 982,170 shares of the medical research company’s stock worth $9,390,000 after purchasing an additional 229,189 shares in the last quarter. 69.71% of the stock is owned by institutional investors and hedge funds.
Shares of InVitae (NYSE NVTA) traded down $0.25 during midday trading on Friday, hitting $6.23. 603,371 shares of the stock traded hands, compared to its average volume of 1,040,819. InVitae has a 52-week low of $3.85 and a 52-week high of $10.41. The firm has a market capitalization of $345.73 and a price-to-earnings ratio of -2.36. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.33.
InVitae Company Profile
Invitae Corporation utilizes an integrated portfolio of laboratory processes, software tools and informatics capabilities to process deoxyribonucleic acid (DNA)-containing samples, analyze information about patient-specific genetic variation and generate test reports for clinicians and their patients.
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