Zacks: Analysts Expect Invitae Co. (NYSE:NVTA) Will Announce Quarterly Sales of $145.41 Million

Equities research analysts expect Invitae Co. (NYSE:NVTAGet Rating) to report sales of $145.41 million for the current quarter, Zacks reports. Five analysts have issued estimates for Invitae’s earnings, with estimates ranging from $140.71 million to $155.70 million. Invitae posted sales of $116.31 million during the same quarter last year, which suggests a positive year-over-year growth rate of 25%. The company is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Invitae will report full year sales of $633.80 million for the current fiscal year, with estimates ranging from $619.86 million to $641.20 million. For the next year, analysts forecast that the company will post sales of $861.02 million, with estimates ranging from $842.49 million to $875.57 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Invitae.

Invitae (NYSE:NVTAGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The medical research company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.02). Invitae had a negative net margin of 148.62% and a negative return on equity of 24.48%. The firm had revenue of $123.70 million during the quarter, compared to analysts’ expectations of $129.31 million. During the same period in the previous year, the business earned ($0.63) earnings per share. The business’s revenue for the quarter was up 19.4% on a year-over-year basis.

Several brokerages recently weighed in on NVTA. The Goldman Sachs Group lowered their price objective on Invitae from $14.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, April 19th. Raymond James dropped their target price on Invitae from $10.50 to $8.50 in a report on Wednesday, May 4th. Morgan Stanley dropped their price target on Invitae from $37.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 15th. Zacks Investment Research downgraded shares of Invitae from a “buy” rating to a “hold” rating in a research note on Friday, February 18th. Finally, SVB Leerink lowered their price target on shares of Invitae from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, February 25th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Invitae currently has an average rating of “Hold” and an average target price of $19.07.

In related news, CEO Sean E. George sold 31,389 shares of the stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $6.69, for a total transaction of $209,992.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert F. Werner sold 7,356 shares of the stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $3.81, for a total transaction of $28,026.36. Following the transaction, the chief accounting officer now owns 204,655 shares of the company’s stock, valued at approximately $779,735.55. The disclosure for this sale can be found here. Insiders sold a total of 154,444 shares of company stock valued at $802,185 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of NVTA. Gabelli Funds LLC boosted its holdings in Invitae by 6.7% in the third quarter. Gabelli Funds LLC now owns 8,000 shares of the medical research company’s stock valued at $227,000 after acquiring an additional 500 shares in the last quarter. Ameritas Investment Company LLC boosted its holdings in shares of Invitae by 10.9% during the 3rd quarter. Ameritas Investment Company LLC now owns 7,146 shares of the medical research company’s stock valued at $203,000 after buying an additional 700 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Invitae by 47.4% during the 4th quarter. AdvisorNet Financial Inc now owns 3,000 shares of the medical research company’s stock valued at $46,000 after buying an additional 965 shares in the last quarter. Maryland Capital Management boosted its holdings in shares of Invitae by 16.1% during the 3rd quarter. Maryland Capital Management now owns 7,537 shares of the medical research company’s stock valued at $214,000 after buying an additional 1,043 shares in the last quarter. Finally, Phocas Financial Corp. boosted its holdings in shares of Invitae by 1.0% during the 3rd quarter. Phocas Financial Corp. now owns 102,774 shares of the medical research company’s stock valued at $2,922,000 after buying an additional 1,059 shares in the last quarter. 91.87% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:NVTA opened at $3.63 on Friday. Invitae has a 12 month low of $3.32 and a 12 month high of $35.51. The firm has a market capitalization of $832.32 million, a PE ratio of -1.12 and a beta of 1.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 6.14 and a quick ratio of 5.88. The business’s 50-day moving average is $6.32 and its two-hundred day moving average is $11.44.

Invitae Company Profile (Get Rating)

Invitae Corporation, a medical genetics company, integrates genetic information into mainstream medicine to improve healthcare of people in the United States, Canada, and internationally. The company offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, oncology, metabolic conditions, and rare diseases; digital health solutions; and health data services.

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Earnings History and Estimates for Invitae (NYSE:NVTA)

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