State Board of Administration of Florida Retirement System Raises Stake in Accelerate Diagnostics Inc (NASDAQ:AXDX)

State Board of Administration of Florida Retirement System lifted its position in shares of Accelerate Diagnostics Inc (NASDAQ:AXDX) by 4.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 17,807 shares of the medical research company’s stock after purchasing an additional 790 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Accelerate Diagnostics were worth $407,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in Accelerate Diagnostics by 15.9% in the 4th quarter. Bank of America Corp DE now owns 28,477 shares of the medical research company’s stock worth $327,000 after acquiring an additional 3,907 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Accelerate Diagnostics by 30,942.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,519 shares of the medical research company’s stock worth $137,000 after acquiring an additional 6,498 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Accelerate Diagnostics by 6.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,392 shares of the medical research company’s stock worth $303,000 after acquiring an additional 836 shares during the period. Griffin Asset Management Inc. boosted its holdings in Accelerate Diagnostics by 11.1% in 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 period. Finally, Belpointe Asset Management LLC purchased a new position in Accelerate Diagnostics in the 1st quarter worth approximately $5,728,000. Institutional investors and hedge funds own 54.56% of the company’s stock.

Shares of Accelerate Diagnostics stock traded up $0.22 on Friday, hitting $18.72. 5,247 shares of the company’s stock traded hands, compared to its average volume of 204,006. The stock has a market cap of $1.02 billion, a P/E ratio of -11.56 and a beta of 2.72. The company has a quick ratio of 18.89, a current ratio of 19.99 and a debt-to-equity ratio of 4.81. The firm’s 50-day moving average is $18.26 and its 200 day moving average is $19.62. Accelerate Diagnostics Inc has a 52-week low of $10.23 and a 52-week high of $24.25.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings results on Thursday, August 8th. The medical research company reported ($0.38) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.02. The business had revenue of $1.81 million for the quarter, compared to analyst estimates of $2.71 million. Accelerate Diagnostics had a negative return on equity of 170.47% and a negative net margin of 1,293.91%. Equities research analysts forecast that Accelerate Diagnostics Inc will post -1.58 EPS for the current year.

A number of research firms have weighed in on AXDX. BTIG Research restated a “hold” rating on shares of Accelerate Diagnostics in a report on Sunday, May 12th. BidaskClub upgraded Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. ValuEngine cut Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Piper Jaffray Companies reduced their target price on Accelerate Diagnostics from $22.00 to $19.00 and set a “positive” rating for the company in a research note on Friday, August 9th. Finally, Zacks Investment Research cut Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $18.67.

Accelerate Diagnostics Profile

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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Institutional Ownership by Quarter for Accelerate Diagnostics (NASDAQ:AXDX)

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