Zacks: Analysts Anticipate Accelerate Diagnostics Inc (NASDAQ:AXDX) Will Post Earnings of -$0.40 Per Share

Brokerages expect that Accelerate Diagnostics Inc (NASDAQ:AXDX) will post earnings of ($0.40) per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Accelerate Diagnostics’ earnings. The highest EPS estimate is ($0.36) and the lowest is ($0.42). Accelerate Diagnostics posted earnings per share of ($0.43) during the same quarter last year, which would suggest a positive year over year growth rate of 7%. The business is expected to announce its next earnings results on Monday, August 5th.

According to Zacks, analysts expect that Accelerate Diagnostics will report full year earnings of ($1.60) per share for the current fiscal year, with EPS estimates ranging from ($1.68) to ($1.47). For the next year, analysts forecast that the company will post earnings of ($1.56) per share, with EPS estimates ranging from ($1.64) to ($1.45). Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Accelerate Diagnostics.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Thursday, May 9th. The medical research company reported ($0.40) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.43) by $0.03. The company had revenue of $1.75 million during the quarter, compared to analysts’ expectations of $2.12 million. Accelerate Diagnostics had a negative net margin of 1,352.80% and a negative return on equity of 130.94%.

Several research firms have recently commented on AXDX. BidaskClub upgraded shares of Accelerate Diagnostics from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 5th. ValuEngine lowered shares of Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Finally, Zacks Investment Research upgraded shares of Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.67.

Several hedge funds have recently added to or reduced their stakes in AXDX. Reilly Financial Advisors LLC acquired a new stake in shares of Accelerate Diagnostics in the first quarter valued at approximately $32,000. Legal & General Group Plc grew 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 last quarter. Metropolitan Life Insurance Co. NY grew 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 last quarter. BNP Paribas Arbitrage SA grew its position in shares of Accelerate Diagnostics by 30,942.9% in the first quarter. BNP Paribas Arbitrage SA now owns 6,519 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 6,498 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew 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 last quarter. Institutional investors and hedge funds own 50.58% of the company’s stock.

Shares of AXDX stock traded up $0.48 during trading hours on Wednesday, hitting $20.30. The company’s stock had a trading volume of 8,327 shares, compared to its average volume of 149,283. The stock has a fifty day moving average of $19.73. The firm has a market capitalization of $1.08 billion, a PE ratio of -12.25 and a beta of 2.83. Accelerate Diagnostics has a twelve month low of $10.23 and a twelve month high of $24.75. The company has a current ratio of 25.36, a quick ratio of 24.03 and a debt-to-equity ratio of 2.86.

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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Earnings History and Estimates for Accelerate Diagnostics (NASDAQ:AXDX)

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