Quanterix Corp (QTRX) Expected to Post Quarterly Sales of $8.52 Million

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Equities analysts expect that Quanterix Corp (NASDAQ:QTRX) will report sales of $8.52 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Quanterix’s earnings, with the highest sales estimate coming in at $8.62 million and the lowest estimate coming in at $8.40 million. The business is scheduled to announce its next quarterly earnings report on Friday, November 9th.

On average, analysts expect that Quanterix will report full year sales of $34.55 million for the current fiscal year, with estimates ranging from $34.10 million to $35.09 million. For the next financial year, analysts expect that the firm will post sales of $50.02 million per share, with estimates ranging from $49.16 million to $50.89 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Quanterix.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings results on Friday, August 10th. The company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.06). The firm had revenue of $8.64 million during the quarter, compared to the consensus estimate of $7.92 million.

A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded Quanterix from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. ValuEngine upgraded Quanterix from a “hold” rating to a “buy” rating in a report on Monday, June 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Quanterix has a consensus rating of “Buy” and a consensus target price of $26.50.

Shares of NASDAQ QTRX traded down $0.71 during mid-day trading on Tuesday, reaching $19.44. 1,620 shares of the company’s stock were exchanged, compared to its average volume of 92,445. The firm has a market cap of $412.16 million and a P/E ratio of -2.43. Quanterix has a twelve month low of $13.00 and a twelve month high of $24.81.

In related news, Chairman E Kevin Hrusovsky sold 17,909 shares of the stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $14.53, for a total transaction of $260,217.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 31.60% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. California State Teachers Retirement System bought a new position in shares of Quanterix during the first quarter worth about $129,000. Acadian Asset Management LLC bought a new position in shares of Quanterix during the second quarter worth about $117,000. First Republic Investment Management Inc. bought a new position in shares of Quanterix during the second quarter worth about $235,000. Bank of New York Mellon Corp bought a new position in shares of Quanterix during the second quarter worth about $312,000. Finally, Schwab Charles Investment Management Inc. bought a new position in shares of Quanterix during the first quarter worth about $374,000. Institutional investors and hedge funds own 49.14% of the company’s stock.

Quanterix Company Profile

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. It develops Simoa HD-1 Analyzer, a sensitive protein detection platform, which analyzes approximately six biomarkers per test; and Quanterix SR-X, which utilizes the same technology and assay kit as the Simoa HD-1 Analyzer.

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Earnings History and Estimates for Quanterix (NASDAQ:QTRX)

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