Quanterix Co. (NASDAQ:QTRX) Expected to Post Quarterly Sales of $29.08 Million

Brokerages expect Quanterix Co. (NASDAQ:QTRXGet Rating) to post $29.08 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Quanterix’s earnings, with the highest sales estimate coming in at $30.00 million and the lowest estimate coming in at $28.00 million. Quanterix posted sales of $24.92 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.7%. The company is scheduled to announce its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Quanterix will report full year sales of $130.15 million for the current financial year, with estimates ranging from $128.35 million to $132.09 million. For the next financial year, analysts expect that the business will report sales of $164.47 million, with estimates ranging from $160.00 million to $170.11 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Quanterix.

Quanterix (NASDAQ:QTRXGet Rating) last released its quarterly earnings data on Tuesday, March 1st. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.11. The firm had revenue of $29.31 million for the quarter, compared to analysts’ expectations of $29.00 million. Quanterix had a negative net margin of 52.18% and a negative return on equity of 12.58%. During the same quarter last year, the business posted ($0.31) earnings per share.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Quanterix from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 26th. The Goldman Sachs Group reduced their price objective on shares of Quanterix from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 13th. JPMorgan Chase & Co. reduced their price target on shares of Quanterix from $85.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 2nd. Finally, SVB Leerink reduced their price target on shares of Quanterix from $70.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Quanterix has an average rating of “Buy” and a consensus price target of $54.60.

Quanterix stock opened at $22.55 on Monday. The stock has a market cap of $832.07 million, a P/E ratio of -14.09 and a beta of 1.59. Quanterix has a 1 year low of $21.13 and a 1 year high of $69.22. The firm’s 50 day moving average price is $26.92 and its 200-day moving average price is $35.24.

In other Quanterix news, CEO E Kevin Hrusovsky sold 868 shares of the business’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $29.79, for a total transaction of $25,857.72. Following the transaction, the chief executive officer now owns 886,976 shares in the company, valued at $26,423,015.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David C. Duffy sold 3,266 shares of the business’s stock in a transaction on Wednesday, March 23rd. The shares were sold at an average price of $30.00, for a total transaction of $97,980.00. The disclosure for this sale can be found here. Insiders have sold 8,623 shares of company stock worth $262,272 in the last quarter. Company insiders own 15.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund boosted its stake in shares of Quanterix by 14.3% during the fourth quarter. New York State Common Retirement Fund now owns 41,561 shares of the company’s stock valued at $1,762,000 after purchasing an additional 5,186 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Quanterix during the third quarter valued at $260,000. Two Sigma Investments LP boosted its stake in shares of Quanterix by 126.2% during the third quarter. Two Sigma Investments LP now owns 118,767 shares of the company’s stock valued at $5,913,000 after purchasing an additional 66,267 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Quanterix by 7.6% during the third quarter. Goldman Sachs Group Inc. now owns 662,105 shares of the company’s stock valued at $32,966,000 after purchasing an additional 46,654 shares during the period. Finally, Man Group plc purchased a new stake in shares of Quanterix during the third quarter valued at $629,000. 86.46% of the stock is owned by hedge funds and other institutional investors.

Quanterix Company Profile (Get Rating)

Quanterix Corporation, a life sciences company, engages in development and marketing of digital immunoassay platforms that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific regions. It offers HD-X 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.

Further Reading

Get a free copy of the Zacks research report on Quanterix (QTRX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Quanterix (NASDAQ:QTRX)

Receive News & Ratings for Quanterix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanterix and related companies with MarketBeat.com's FREE daily email newsletter.