InVitae Corp (NVTA) Forecasted to Post Q3 2018 Earnings of ($0.47) Per Share

InVitae Corp (NYSE:NVTA) – William Blair lowered their Q3 2018 earnings estimates for InVitae in a note issued to investors on Thursday, August 9th. William Blair analyst A. Murphy now forecasts that the medical research company will post earnings per share of ($0.47) for the quarter, down from their prior estimate of ($0.45). William Blair also issued estimates for InVitae’s FY2018 earnings at ($2.01) EPS, Q1 2019 earnings at ($0.46) EPS, Q2 2019 earnings at ($0.43) EPS, Q3 2019 earnings at ($0.41) EPS, Q4 2019 earnings at ($0.30) EPS, FY2019 earnings at ($1.59) EPS and FY2020 earnings at ($0.99) EPS.

InVitae (NYSE:NVTA) last announced its earnings results on Tuesday, August 7th. The medical research company reported ($0.47) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.07. The company had revenue of $37.31 million during the quarter, compared to analyst estimates of $30.70 million. InVitae had a negative net margin of 125.03% and a negative return on equity of 116.59%.

Several other research analysts have also weighed in on NVTA. Zacks Investment Research raised shares of InVitae from a “hold” rating to a “strong-buy” rating and set a $6.25 target price for the company in a research note on Wednesday, April 18th. ValuEngine raised shares of InVitae from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $10.80.

Shares of InVitae opened at $9.95 on Monday, Marketbeat.com reports. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.60. InVitae has a 1-year low of $4.35 and a 1-year high of $10.41.

In other news, COO E Lee Bendekgey sold 6,388 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $6.96, for a total value of $44,460.48. Following the completion of the transaction, the chief operating officer now owns 52,396 shares of the company’s stock, valued at $364,676.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert L. Nussbaum sold 6,702 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $6.96, for a total transaction of $46,645.92. The disclosure for this sale can be found here. In the last three months, insiders sold 40,515 shares of company stock valued at $281,984. Insiders own 8.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of InVitae by 6.2% in the fourth quarter. BlackRock Inc. now owns 2,301,851 shares of the medical research company’s stock valued at $20,901,000 after purchasing an additional 134,259 shares during the period. Bank of New York Mellon Corp raised its holdings in InVitae by 15.5% in the fourth quarter. Bank of New York Mellon Corp now owns 199,199 shares of the medical research company’s stock valued at $1,809,000 after acquiring an additional 26,724 shares in the last quarter. Rock Springs Capital Management LP raised its holdings in InVitae by 7.2% in the first quarter. Rock Springs Capital Management LP now owns 1,400,000 shares of the medical research company’s stock valued at $6,566,000 after acquiring an additional 94,000 shares in the last quarter. LPL Financial LLC raised its holdings in InVitae by 25.4% in the fourth quarter. LPL Financial LLC now owns 54,597 shares of the medical research company’s stock valued at $496,000 after acquiring an additional 11,052 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in InVitae by 48.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 156,395 shares of the medical research company’s stock valued at $1,420,000 after acquiring an additional 50,880 shares in the last quarter. 70.09% of the stock is owned by institutional investors and hedge funds.

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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