Accelerate Diagnostics Inc (AXDX) Receives Average Rating of “Hold” from Brokerages

Shares of Accelerate Diagnostics Inc (NASDAQ:AXDX) have received an average rating of “Hold” from the six ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $21.00.

A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. BidaskClub upgraded shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its position in shares of Accelerate Diagnostics by 45.2% in the fourth quarter. Legal & General Group Plc now owns 5,995 shares of the medical research company’s stock valued at $69,000 after purchasing an additional 1,866 shares during the period. Metropolitan Life Insurance Co. NY raised its position in shares of Accelerate Diagnostics by 331.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,727 shares of the medical research company’s stock valued at $100,000 after purchasing an additional 6,704 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Accelerate Diagnostics by 82.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,556 shares of the medical research company’s stock valued at $159,000 after purchasing an additional 6,114 shares during the period. Man Group plc bought a new stake in shares of Accelerate Diagnostics in the third quarter valued at approximately $313,000. Finally, Bank of America Corp DE raised its position in shares of Accelerate Diagnostics by 15.9% in the fourth quarter. Bank of America Corp DE now owns 28,477 shares of the medical research company’s stock valued at $327,000 after purchasing an additional 3,907 shares during the period. Hedge funds and other institutional investors own 48.90% of the company’s stock.

AXDX traded down $0.25 during midday trading on Friday, reaching $18.10. The company had a trading volume of 218,032 shares, compared to its average volume of 228,553. The company has a quick ratio of 21.89, a current ratio of 22.88 and a debt-to-equity ratio of 2.09. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -11.17 and a beta of 3.17. Accelerate Diagnostics has a 12-month low of $10.23 and a 12-month high of $25.35.

Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results on Tuesday, February 19th. The medical research company reported ($0.41) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.41). The firm had revenue of $1.80 million for the quarter, compared to analysts’ expectations of $1.83 million. Accelerate Diagnostics had a negative net margin of 1,564.01% and a negative return on equity of 105.12%. As a group, sell-side analysts anticipate that Accelerate Diagnostics will post -1.79 earnings per share for the current year.

About Accelerate Diagnostics

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. 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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