$25.82 Million in Sales Expected for Invitae Co. (NVTA) This Quarter

Equities analysts predict that Invitae Co. (NYSE:NVTA) will report sales of $25.82 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Invitae’s earnings, with the lowest sales estimate coming in at $25.02 million and the highest estimate coming in at $26.27 million. Invitae posted sales of $10.34 million in the same quarter last year, which suggests a positive year over year growth rate of 149.7%. The firm is expected to report its next earnings results after the market closes on Monday, May 14th.

According to Zacks, analysts expect that Invitae will report full-year sales of $125.12 million for the current fiscal year, with estimates ranging from $122.45 million to $127.32 million. For the next year, analysts forecast that the business will post sales of $185.16 million per share, with estimates ranging from $175.89 million to $196.61 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Invitae.

Invitae (NYSE:NVTA) last posted its quarterly earnings results on Monday, February 12th. The medical research company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.17). The company had revenue of $25.40 million during the quarter, compared to analysts’ expectations of $24.18 million. Invitae had a negative return on equity of 124.43% and a negative net margin of 180.85%. Invitae’s revenue for the quarter was up 175.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.69) EPS.

Several equities analysts have recently issued reports on NVTA shares. Benchmark lowered their price target on Invitae from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, February 13th. Ladenburg Thalmann started coverage on Invitae in a report on Friday, January 5th. They issued a “buy” rating and a $15.00 price objective for the company. Leerink Swann reduced their price objective on Invitae from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, January 16th. JPMorgan Chase reduced their price objective on Invitae from $13.00 to $9.00 and set an “overweight” rating for the company in a report on Tuesday, February 13th. Finally, Zacks Investment Research downgraded Invitae from a “hold” rating to a “sell” rating in a report on Wednesday, April 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Invitae currently has an average rating of “Buy” and a consensus target price of $10.05.

NVTA opened at $5.53 on Thursday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $295.96, a PE ratio of -2.09 and a beta of 1.06. Invitae has a 1 year low of $4.35 and a 1 year high of $10.41.

In related news, insider Randal W. Scott acquired 44,444 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was bought at an average cost of $4.50 per share, for a total transaction of $199,998.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Bros. Advisors Lp Baker acquired 1,111,111 shares of the business’s stock in a transaction that occurred on Wednesday, March 28th. The shares were bought at an average price of $4.50 per share, with a total value of $4,999,999.50. The disclosure for this purchase can be found here. Insiders own 8.70% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Park West Asset Management LLC purchased a new position in Invitae in the 4th quarter worth approximately $23,916,000. BlackRock Inc. lifted its holdings in Invitae by 6.2% in the 4th quarter. BlackRock Inc. now owns 2,301,851 shares of the medical research company’s stock worth $20,901,000 after purchasing an additional 134,259 shares in the last quarter. Redmile Group LLC lifted its holdings in Invitae by 5.2% in the 4th quarter. Redmile Group LLC now owns 2,222,040 shares of the medical research company’s stock worth $20,176,000 after purchasing an additional 109,800 shares in the last quarter. ARK Investment Management LLC lifted its holdings in Invitae by 44.1% in the 4th quarter. ARK Investment Management LLC now owns 2,104,798 shares of the medical research company’s stock worth $19,112,000 after purchasing an additional 643,860 shares in the last quarter. Finally, Perceptive Advisors LLC lifted its holdings in Invitae by 6.4% in the 4th quarter. Perceptive Advisors LLC now owns 2,004,500 shares of the medical research company’s stock worth $18,200,000 after purchasing an additional 120,000 shares in the last quarter. Institutional investors own 71.41% of the company’s stock.

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Invitae Company Profile

Invitae Corporation, a genetic information company, processes DNA-containing samples, analyzes information related to patient-specific genetic variation, and generates test reports for clinicians and their patients in the United States, Canada, and internationally. The company's tests include multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; proactive health and wellness screening; and preimplantation embryo testing and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.

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Earnings History and Estimates for Invitae (NYSE:NVTA)

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