Zacks: Brokerages Anticipate Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Will Post Quarterly Sales of $3.12 Million

Brokerages expect Accelerate Diagnostics, Inc. (NASDAQ:AXDXGet Rating) to announce sales of $3.12 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Accelerate Diagnostics’ earnings, with the lowest sales estimate coming in at $2.90 million and the highest estimate coming in at $3.33 million. Accelerate Diagnostics reported sales of $2.52 million in the same quarter last year, which indicates a positive year-over-year growth rate of 23.8%. The company is expected to issue its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Accelerate Diagnostics will report full-year sales of $13.81 million for the current financial year, with estimates ranging from $13.50 million to $14.11 million. For the next financial year, analysts anticipate that the company will post sales of $20.86 million, with estimates ranging from $18.00 million to $23.72 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that that provide coverage for Accelerate Diagnostics.

Accelerate Diagnostics (NASDAQ:AXDXGet Rating) last posted its quarterly earnings data on Tuesday, March 8th. The medical research company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. The business had revenue of $3.30 million during the quarter, compared to the consensus estimate of $3.20 million. During the same quarter in the previous year, the firm posted ($0.33) earnings per share.

Several brokerages recently issued reports on AXDX. Zacks Investment Research lowered Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research note on Tuesday, January 25th. StockNews.com began coverage on Accelerate Diagnostics in a research note on Thursday, March 31st. They set a “sell” rating on the stock. Craig Hallum lowered Accelerate Diagnostics from a “buy” rating to a “hold” rating and set a $5.00 price target on the stock. in a research note on Wednesday, March 9th. Finally, William Blair restated an “outperform” rating on shares of Accelerate Diagnostics in a research note on Wednesday, March 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Accelerate Diagnostics currently has an average rating of “Hold” and a consensus price target of $6.42.

In other Accelerate Diagnostics news, CEO Jack Phillips sold 83,708 shares of Accelerate Diagnostics stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $0.98, for a total transaction of $82,033.84. Following the sale, the chief executive officer now directly owns 208,073 shares of the company’s stock, valued at $203,911.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hany Massarany acquired 20,000 shares of the firm’s stock in a transaction on Monday, January 31st. The shares were bought at an average cost of $3.30 per share, for a total transaction of $66,000.00. The disclosure for this purchase can be found here. Insiders have sold 132,348 shares of company stock worth $138,030 over the last ninety days. Company insiders own 42.20% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Citigroup Inc. boosted its holdings in shares of Accelerate Diagnostics by 64.0% in the 3rd quarter. Citigroup Inc. now owns 4,378 shares of the medical research company’s stock worth $26,000 after acquiring an additional 1,708 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Accelerate Diagnostics by 415.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,213 shares of the medical research company’s stock worth $36,000 after acquiring an additional 5,008 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Accelerate Diagnostics by 210.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 10,831 shares of the medical research company’s stock worth $57,000 after acquiring an additional 7,344 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Accelerate Diagnostics by 42.9% in the 3rd quarter. SRS Capital Advisors Inc. now owns 10,000 shares of the medical research company’s stock worth $58,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Accelerate Diagnostics in the 4th quarter worth approximately $58,000. 67.71% of the stock is currently owned by institutional investors and hedge funds.

Shares of Accelerate Diagnostics stock traded up $0.01 during trading on Monday, reaching $0.96. The company’s stock had a trading volume of 614,948 shares, compared to its average volume of 611,376. The business’s fifty day moving average price is $1.64 and its 200-day moving average price is $3.68. The firm has a market cap of $66.87 million, a price-to-earnings ratio of -0.76 and a beta of 1.81. Accelerate Diagnostics has a one year low of $0.84 and a one year high of $9.36.

Accelerate Diagnostics Company Profile (Get Rating)

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States, Europe, and the Middle East. The company offers Accelerate Pheno system, an in vitro diagnostic platform for the identification and antibiotic susceptibility testing of pathogens associated with serious or health care-associated infections, including gram-positive and gram-negative organisms.

Featured Articles

Get a free copy of the Zacks research report on Accelerate Diagnostics (AXDX)

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

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