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

Analysts expect that Accelerate Diagnostics Inc (NASDAQ:AXDX) will post earnings per share of ($0.40) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Accelerate Diagnostics’ earnings, with the highest EPS estimate coming in at ($0.34) and the lowest estimate coming in at ($0.43). Accelerate Diagnostics reported earnings of ($0.41) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 2.4%. The firm is scheduled to issue its next earnings results on Tuesday, November 5th.

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

Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings data on Thursday, August 8th. The medical research company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.02. The firm had revenue of $1.81 million during the quarter, compared to the consensus estimate of $2.71 million. Accelerate Diagnostics had a negative return on equity of 130.94% and a negative net margin of 1,352.80%.

AXDX has been the subject of several research reports. BTIG Research reissued a “hold” rating on shares of Accelerate Diagnostics in a report on Sunday, May 12th. ValuEngine cut Accelerate Diagnostics from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Piper Jaffray Companies dropped their price objective on Accelerate Diagnostics from $22.00 to $19.00 and set a “positive” rating on the stock in a report on Friday. BidaskClub cut Accelerate Diagnostics from a “hold” rating to a “sell” rating in a report on Saturday, July 13th. Finally, Zacks Investment Research cut Accelerate Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Accelerate Diagnostics currently has an average rating of “Hold” and an average target price of $18.67.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC grew its position in Accelerate Diagnostics by 16.1% during the 1st quarter. FMR LLC now owns 857,069 shares of the medical research company’s stock worth $18,016,000 after acquiring an additional 118,620 shares during the last quarter. Chicago Capital LLC grew its position in Accelerate Diagnostics by 10.6% during the 2nd quarter. Chicago Capital LLC now owns 546,279 shares of the medical research company’s stock worth $12,499,000 after acquiring an additional 52,460 shares during the last quarter. C WorldWide Group Holding A S grew its position in Accelerate Diagnostics by 357.5% during the 2nd quarter. C WorldWide Group Holding A S now owns 524,683 shares of the medical research company’s stock worth $12,005,000 after acquiring an additional 410,000 shares during the last quarter. Griffin Asset Management Inc. grew its position in Accelerate Diagnostics by 11.1% during the 1st quarter. Griffin Asset Management Inc. now owns 484,871 shares of the medical research company’s stock worth $10,192,000 after acquiring an additional 48,352 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Accelerate Diagnostics by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 307,860 shares of the medical research company’s stock worth $3,540,000 after acquiring an additional 9,188 shares during the last quarter. 50.71% of the stock is currently owned by institutional investors.

Shares of AXDX stock traded up $0.86 on Friday, hitting $17.48. 35,864 shares of the stock were exchanged, compared to its average volume of 169,769. The company has a quick ratio of 24.03, a current ratio of 25.36 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $926.36 million, a price-to-earnings ratio of -10.65 and a beta of 2.75. Accelerate Diagnostics has a one year low of $10.23 and a one year high of $24.75. The firm has a 50 day moving average price of $19.93.

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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