Natera (NTRA) Shares Up 22.3% Following Better-Than-Expected Earnings
Natera Inc (NASDAQ:NTRA)’s share price shot up 22.3% on Friday following a stronger than expected earnings report. The stock traded as high as $21.87 and last traded at $21.70. 1,280,172 shares changed hands during mid-day trading, an increase of 91% from the average session volume of 671,589 shares. The stock had previously closed at $17.75.
The medical research company reported ($0.54) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.59) by $0.05. Natera had a negative return on equity of 790.13% and a negative net margin of 49.72%. The firm had revenue of $66.82 million during the quarter, compared to the consensus estimate of $66.40 million.
Several research firms recently commented on NTRA. BidaskClub downgraded Natera from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Zacks Investment Research raised Natera from a “sell” rating to a “hold” rating in a research note on Saturday, April 20th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $27.00 target price on shares of Natera in a research note on Sunday, April 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Natera presently has a consensus rating of “Buy” and a consensus target price of $28.00.
Several institutional investors and hedge funds have recently modified their holdings of the business. Great West Life Assurance Co. Can grew its holdings in shares of Natera by 136.8% during the 4th quarter. Great West Life Assurance Co. Can now owns 5,920 shares of the medical research company’s stock worth $80,000 after purchasing an additional 3,420 shares during the period. Legal & General Group Plc grew its holdings in shares of Natera by 14.5% during the 4th quarter. Legal & General Group Plc now owns 5,826 shares of the medical research company’s stock worth $81,000 after purchasing an additional 736 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of Natera by 6.7% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 11,485 shares of the medical research company’s stock worth $160,000 after purchasing an additional 717 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of Natera by 827.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,899 shares of the medical research company’s stock worth $163,000 after purchasing an additional 7,047 shares during the period. Finally, Metropolitan Life Insurance Co. NY grew its holdings in shares of Natera by 431.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,867 shares of the medical research company’s stock worth $166,000 after purchasing an additional 9,636 shares during the period. 87.89% of the stock is owned by institutional investors and hedge funds.
The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -10.09 and a beta of 1.80. The company has a quick ratio of 1.99, a current ratio of 2.11 and a debt-to-equity ratio of 2.28.
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About Natera (NASDAQ:NTRA)
Natera, Inc, a diagnostics company, provides preconception and prenatal genetic testing services. It primarily offers Panorama, a non-invasive prenatal test that screens for chromosomal abnormalities of a fetus with a blood draw from the mother; Vistara, a single-gene mutations screening test to identify single-gene disorder; Horizon carrier screening to determine carrier status for various genetic diseases that could be passed on to the carrier's children; and Spectrum pre-implantation genetic screening and Spectrum pre-implantation genetic diagnosis to analyze chromosomal anomalies or inherited genetic conditions during an in vitro fertilization cycle.
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