Wall Street analysts forecast that Accelerate Diagnostics Inc (NASDAQ:AXDX) will report $2.71 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Accelerate Diagnostics’ earnings, with the highest sales estimate coming in at $2.99 million and the lowest estimate coming in at $2.30 million. Accelerate Diagnostics posted sales of $1.69 million during the same quarter last year, which would indicate a positive year over year growth rate of 60.4%. The business is scheduled to announce its next quarterly earnings results after the market closes on Thursday, August 8th.
On average, analysts expect that Accelerate Diagnostics will report full year sales of $13.75 million for the current fiscal year, with estimates ranging from $13.20 million to $14.73 million. For the next financial year, analysts expect that the business will post sales of $35.82 million, with estimates ranging from $30.90 million to $42.96 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Accelerate Diagnostics.
Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings data on Thursday, May 9th. The medical research company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.03. The business had revenue of $1.75 million for the quarter, compared to analysts’ expectations of $2.12 million. Accelerate Diagnostics had a negative return on equity of 130.94% and a negative net margin of 1,352.80%.
AXDX has been the topic of a number of recent research reports. Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. ValuEngine raised Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. BidaskClub cut Weyco Group from a “sell” rating to a “strong sell” rating in a report on Saturday, July 13th. Finally, BTIG Research reissued a “hold” rating on shares of Accelerate Diagnostics in a report on Sunday, May 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $19.67.
Several large investors have recently added to or reduced their stakes in AXDX. Reilly Financial Advisors LLC purchased a new stake in shares of Accelerate Diagnostics in the 1st quarter valued at about $32,000. Legal & General Group Plc lifted its holdings in 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 worth $69,000 after buying an additional 1,866 shares during the period. Metropolitan Life Insurance Co. NY lifted its holdings in Accelerate Diagnostics by 331.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,727 shares of the medical research company’s stock worth $100,000 after buying an additional 6,704 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Accelerate Diagnostics by 30,942.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,519 shares of the medical research company’s stock worth $137,000 after buying an additional 6,498 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in 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 worth $303,000 after buying an additional 836 shares during the period. 50.58% of the stock is currently owned by hedge funds and other institutional investors.
AXDX traded down $0.12 during trading on Friday, reaching $18.67. 118,290 shares of the company were exchanged, compared to its average volume of 205,942. The company has a 50-day simple moving average of $20.59. The stock has a market cap of $1.02 billion, a P/E ratio of -11.52 and a beta of 2.84. The company has a debt-to-equity ratio of 2.86, a quick ratio of 24.03 and a current ratio of 25.36. Accelerate Diagnostics has a 12-month low of $10.23 and a 12-month high of $24.75.
About Accelerate Diagnostics
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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