Brokerages Anticipate Invitae Co. (NYSE:NVTA) Will Post Quarterly Sales of $127.60 Million

Equities research analysts expect that Invitae Co. (NYSE:NVTA) will report sales of $127.60 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Invitae’s earnings. The highest sales estimate is $132.48 million and the lowest is $118.00 million. Invitae reported sales of $100.43 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 27.1%. The firm is scheduled to issue its next earnings report on Wednesday, February 16th.

On average, analysts expect that Invitae will report full year sales of $463.32 million for the current fiscal year, with estimates ranging from $452.33 million to $471.90 million. For the next fiscal year, analysts anticipate that the business will report sales of $672.30 million, with estimates ranging from $655.81 million to $700.64 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Invitae.

Invitae (NYSE:NVTA) last announced its quarterly earnings data on Sunday, November 7th. The medical research company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.22). The firm had revenue of $114.40 million during the quarter, compared to analysts’ expectations of $126.56 million. Invitae had a negative net margin of 155.87% and a negative return on equity of 23.02%. The company’s revenue for the quarter was up 66.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.62) EPS.

Several research firms have recently commented on NVTA. Benchmark upgraded Invitae from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Wednesday, August 4th. Morgan Stanley reduced their price target on Invitae from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, August 5th. Wells Fargo & Company reduced their price target on Invitae from $35.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 9th. Raymond James reduced their price target on Invitae from $38.00 to $36.00 and set an “outperform” rating on the stock in a report on Tuesday, November 9th. Finally, Zacks Investment Research lowered Invitae from a “hold” rating to a “sell” rating in a report on Saturday, November 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.44.

NVTA stock traded up $0.54 during midday trading on Thursday, reaching $18.18. The stock had a trading volume of 3,916,037 shares, compared to its average volume of 3,616,895. Invitae has a 52-week low of $16.95 and a 52-week high of $61.59. The company has a current ratio of 8.74, a quick ratio of 12.08 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $26.60 and its 200 day simple moving average is $28.46. The company has a market cap of $4.12 billion, a price-to-earnings ratio of -5.27 and a beta of 1.71.

In other Invitae news, CEO Sean E. George sold 7,350 shares of Invitae stock in a transaction dated Wednesday, September 22nd. The stock was sold at an average price of $31.88, for a total value of $234,318.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sean E. George sold 3,675 shares of the business’s stock in a transaction dated Friday, October 22nd. The stock was sold at an average price of $28.06, for a total value of $103,120.50. The disclosure for this sale can be found here. Insiders have sold a total of 40,700 shares of company stock valued at $987,024 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. FDx Advisors Inc. grew its position in shares of Invitae by 1.5% during the second quarter. FDx Advisors Inc. now owns 22,698 shares of the medical research company’s stock worth $766,000 after buying an additional 339 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Invitae by 15.5% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,975 shares of the medical research company’s stock worth $85,000 after buying an additional 400 shares in the last quarter. US Bancorp DE grew its position in shares of Invitae by 0.8% during the second quarter. US Bancorp DE now owns 48,639 shares of the medical research company’s stock worth $1,640,000 after buying an additional 406 shares in the last quarter. Shell Asset Management Co. lifted its stake in Invitae by 5.7% during the second quarter. Shell Asset Management Co. now owns 7,565 shares of the medical research company’s stock worth $255,000 after purchasing an additional 410 shares during the last quarter. Finally, Montag A & Associates Inc. lifted its stake in Invitae by 32.1% during the third quarter. Montag A & Associates Inc. now owns 1,803 shares of the medical research company’s stock worth $51,000 after purchasing an additional 438 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Invitae Company Profile

Invitae Corp. engages in the provision of genetic information into mainstream medical practice. It includes comprehensive panels for hereditary conditions in cancer, cardiology, neurology, pediatric, and rare diseases. The company was founded by Randal W. Scott and Sean E. George on January 13, 2010 and is headquartered in San Francisco, CA.

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Earnings History and Estimates for Invitae (NYSE:NVTA)

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