Zacks: Analysts Expect InVitae Corp (NYSE:NVTA) Will Post Earnings of -$0.72 Per Share

Equities research analysts expect InVitae Corp (NYSE:NVTA) to post earnings per share of ($0.72) for the current fiscal quarter, according to Zacks. Four analysts have made estimates for InVitae’s earnings. The lowest EPS estimate is ($1.09) and the highest is ($0.53). InVitae posted earnings per share of ($0.40) in the same quarter last year, which suggests a negative year-over-year growth rate of 80%. The business is scheduled to announce its next quarterly earnings results on Tuesday, February 18th.

On average, analysts expect that InVitae will report full-year earnings of ($2.57) per share for the current fiscal year, with EPS estimates ranging from ($2.98) to ($2.26). For the next year, analysts expect that the company will post earnings of ($2.29) per share, with EPS estimates ranging from ($3.10) to ($1.47). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow InVitae.

InVitae (NYSE:NVTA) last posted its quarterly earnings data on Wednesday, November 6th. The medical research company reported ($0.69) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by ($0.17). The firm had revenue of $56.51 million during the quarter, compared to analyst estimates of $55.00 million. InVitae had a negative net margin of 99.49% and a negative return on equity of 58.90%.

Several brokerages have issued reports on NVTA. ValuEngine raised shares of InVitae from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Zacks Investment Research cut shares of InVitae from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Chardan Capital set a $32.00 target price on shares of InVitae and gave the company a “buy” rating in a report on Sunday, August 25th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. InVitae currently has an average rating of “Buy” and a consensus target price of $27.83.

In other news, insider Katherine Stueland sold 3,788 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.46, for a total value of $66,138.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.70% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY boosted its holdings in shares of InVitae by 27.7% in the third quarter. Metropolitan Life Insurance Co NY now owns 28,437 shares of the medical research company’s stock valued at $548,000 after acquiring an additional 6,164 shares in the last quarter. California State Teachers Retirement System lifted its position in InVitae by 1.2% in the third quarter. California State Teachers Retirement System now owns 135,029 shares of the medical research company’s stock valued at $2,602,000 after purchasing an additional 1,613 shares during the period. Stifel Financial Corp purchased a new stake in InVitae in the 3rd quarter valued at approximately $247,000. Virtu Financial LLC purchased a new stake in InVitae in the 3rd quarter valued at approximately $290,000. Finally, Cetera Advisor Networks LLC increased its position in InVitae by 68.7% during the 3rd quarter. Cetera Advisor Networks LLC now owns 39,525 shares of the medical research company’s stock worth $781,000 after purchasing an additional 16,100 shares during the period. Institutional investors own 94.47% of the company’s stock.

NVTA stock traded up $0.64 on Friday, hitting $17.69. The company’s stock had a trading volume of 1,390,489 shares, compared to its average volume of 1,796,703. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -9.12 and a beta of 2.53. The firm has a 50 day moving average of $17.88 and a two-hundred day moving average of $20.85. The company has a current ratio of 7.38, a quick ratio of 7.38 and a debt-to-equity ratio of 0.77. InVitae has a 1 year low of $9.04 and a 1 year high of $28.75.

About InVitae

Invitae Corporation, a genetic information company, processes DNA-containing samples, analyzes information related to patient-specific genetic variation, and generates test reports for clinicians and their patients in the United States, Canada, and internationally. Its tests include genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; and screening and testing services in reproductive health, including preimplantation and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.

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Earnings History and Estimates for InVitae (NYSE:NVTA)

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