Wall Street brokerages forecast that Quanterix Corp (NASDAQ:QTRX) will post earnings of ($0.36) per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Quanterix’s earnings, with the lowest EPS estimate coming in at ($0.36) and the highest estimate coming in at ($0.35). Quanterix reported earnings of ($0.42) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.3%. The firm is expected to report its next earnings results on Monday, March 16th.
On average, analysts expect that Quanterix will report full-year earnings of ($1.52) per share for the current year, with EPS estimates ranging from ($1.53) to ($1.51). For the next year, analysts anticipate that the company will post earnings of ($1.59) per share, with EPS estimates ranging from ($1.67) to ($1.51). Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Quanterix.
Quanterix (NASDAQ:QTRX) last announced its earnings results on Friday, November 8th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.01. Quanterix had a negative return on equity of 54.74% and a negative net margin of 75.78%. The company had revenue of $14.94 million for the quarter, compared to analyst estimates of $12.52 million.
Several equities research analysts have commented on QTRX shares. Zacks Investment Research upgraded shares of Quanterix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Canaccord Genuity restated a “buy” rating and issued a $35.00 price target on shares of Quanterix in a research note on Thursday, November 7th. Finally, ValuEngine lowered shares of Quanterix from a “buy” rating to a “hold” rating in a research note on Thursday, January 16th.
Shares of NASDAQ:QTRX traded up $0.35 during trading hours on Thursday, hitting $25.68. The stock had a trading volume of 48,027 shares, compared to its average volume of 114,382. The stock’s fifty day simple moving average is $23.74 and its 200 day simple moving average is $24.95. Quanterix has a 1-year low of $19.08 and a 1-year high of $36.15. The firm has a market capitalization of $704.29 million, a price-to-earnings ratio of -15.38 and a beta of 1.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.00 and a current ratio of 7.61.
In other news, CEO E Kevin Hrusovsky sold 3,357 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $25.06, for a total transaction of $84,126.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP David C. Duffy sold 1,667 shares of Quanterix stock in a transaction on Monday, November 18th. The stock was sold at an average price of $22.56, for a total transaction of $37,607.52. Following the completion of the transaction, the senior vice president now owns 46,427 shares in the company, valued at approximately $1,047,393.12. The disclosure for this sale can be found here. Insiders sold 44,776 shares of company stock valued at $1,062,978 over the last quarter. Insiders own 30.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Ashford Capital Management Inc. acquired a new position in Quanterix during the second quarter worth $13,333,000. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Quanterix by 11.6% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 3,422,605 shares of the company’s stock valued at $75,160,000 after acquiring an additional 354,437 shares in the last quarter. BlackRock Inc. increased its stake in shares of Quanterix by 29.7% in the 2nd quarter. BlackRock Inc. now owns 877,059 shares of the company’s stock valued at $29,636,000 after acquiring an additional 200,999 shares in the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in shares of Quanterix in the 3rd quarter valued at $3,604,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Quanterix by 303.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 159,144 shares of the company’s stock valued at $5,377,000 after acquiring an additional 119,691 shares in the last quarter. Hedge funds and other institutional investors own 67.50% of the company’s stock.
Quanterix Corporation, a life sciences company, develops and markets ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Simoa HD-1 instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids.
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