Bank of New York Mellon Corp grew its stake in Natera Inc (NASDAQ:NTRA) by 9.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 650,968 shares of the medical research company’s stock after buying an additional 58,224 shares during the quarter. Bank of New York Mellon Corp’s holdings in Natera were worth $12,251,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in NTRA. State Board of Administration of Florida Retirement System purchased a new position in Natera in the 2nd quarter worth approximately $200,000. Paradigm Capital Management Inc. NY purchased a new position in Natera in the 2nd quarter worth approximately $207,000. Cubist Systematic Strategies LLC purchased a new position in Natera in the 2nd quarter worth approximately $252,000. Woodmont Investment Counsel LLC purchased a new position in Natera in the 2nd quarter worth approximately $258,000. Finally, Jane Street Group LLC purchased a new position in Natera in the 2nd quarter worth approximately $313,000. 87.90% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Matthew Rabinowitz sold 403,462 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $24.90, for a total transaction of $10,046,203.80. Following the completion of the sale, the chief executive officer now directly owns 1,701,686 shares in the company, valued at approximately $42,371,981.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Steven Leonard Chapman sold 9,200 shares of the company’s stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $24.88, for a total transaction of $228,896.00. Following the sale, the chief operating officer now owns 9,762 shares of the company’s stock, valued at $242,878.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,014,988 shares of company stock valued at $48,674,710. Company insiders own 13.18% of the company’s stock.
Natera (NASDAQ:NTRA) last announced its quarterly earnings data on Thursday, November 8th. The medical research company reported ($0.49) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.03). The business had revenue of $65.30 million during the quarter, compared to the consensus estimate of $66.42 million. Natera had a negative return on equity of 2,569.52% and a negative net margin of 58.00%. The company’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. Equities research analysts expect that Natera Inc will post -2.11 earnings per share for the current year.
A number of equities analysts have commented on NTRA shares. Cowen reissued a “buy” rating and issued a $30.00 price target on shares of Natera in a research note on Friday, November 9th. Zacks Investment Research raised shares of Natera from a “sell” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Saturday, October 13th. BidaskClub cut shares of Natera from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 30th. Canaccord Genuity boosted their price target on shares of Natera from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, August 16th. Finally, TheStreet lowered shares of Natera from a “c-” rating to a “d+” rating in a report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Natera presently has a consensus rating of “Buy” and an average price target of $28.25.
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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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