Northern Trust Corp boosted its stake in Accelerate Diagnostics Inc (NASDAQ:AXDX) by 2.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 350,809 shares of the medical research company’s stock after buying an additional 8,608 shares during the quarter. Northern Trust Corp’s holdings in Accelerate Diagnostics were worth $7,823,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC purchased a new stake in Accelerate Diagnostics in the 2nd quarter valued at $210,000. Baird Financial Group Inc. raised its position in Accelerate Diagnostics by 3.7% in the 2nd quarter. Baird Financial Group Inc. now owns 154,359 shares of the medical research company’s stock valued at $3,442,000 after buying an additional 5,477 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in Accelerate Diagnostics by 33.8% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 60,550 shares of the medical research company’s stock valued at $1,350,000 after buying an additional 15,305 shares during the last quarter. Intrinsic Edge Capital Management LLC raised its position in Accelerate Diagnostics by 166.7% in the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 80,000 shares of the medical research company’s stock valued at $1,784,000 after buying an additional 50,000 shares during the last quarter. Finally, BlackRock Inc. raised its position in Accelerate Diagnostics by 4.2% in the 2nd quarter. BlackRock Inc. now owns 1,750,891 shares of the medical research company’s stock valued at $39,046,000 after buying an additional 70,447 shares during the last quarter. 45.33% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the company. BidaskClub raised Accelerate Diagnostics from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 3rd. Zacks Investment Research raised Accelerate Diagnostics from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Monday. JPMorgan Chase & Co. lowered Accelerate Diagnostics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $16.00 in a research report on Wednesday, November 7th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $24.00 price target on shares of Accelerate Diagnostics in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.25.
Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings data on Tuesday, November 6th. The medical research company reported ($0.41) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.41). The firm had revenue of $1.36 million during the quarter, compared to the consensus estimate of $2.89 million. Accelerate Diagnostics had a negative return on equity of 81.76% and a negative net margin of 1,365.75%. On average, equities analysts forecast that Accelerate Diagnostics Inc will post -1.61 EPS for the current fiscal year.
In other Accelerate Diagnostics news, Director John Patience acquired 10,000 shares of Accelerate Diagnostics stock in a transaction on Thursday, November 8th. The stock was purchased at an average price of $14.96 per share, for a total transaction of $149,600.00. Following the purchase, the director now directly owns 44,670 shares of the company’s stock, valued at $668,263.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 49.30% of the stock is owned by corporate insiders.
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Accelerate Diagnostics Company Profile
Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States. It 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, as well as yeast.
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