Quanterix Corp (NASDAQ:QTRX) Expected to Post Quarterly Sales of $14.18 Million

Brokerages forecast that Quanterix Corp (NASDAQ:QTRX) will announce $14.18 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Quanterix’s earnings, with estimates ranging from $13.30 million to $15.15 million. Quanterix posted sales of $10.88 million in the same quarter last year, which would indicate a positive year over year growth rate of 30.3%. The business is scheduled to announce its next quarterly earnings results on Monday, March 16th.

On average, analysts expect that Quanterix will report full-year sales of $55.14 million for the current fiscal year, with estimates ranging from $54.63 million to $55.87 million. For the next financial year, analysts forecast that the firm will post sales of $70.84 million, with estimates ranging from $68.05 million to $74.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Quanterix.

QTRX has been the subject of several analyst reports. BidaskClub upgraded shares of Quanterix from a “sell” rating to a “hold” rating in a report on Friday, February 7th. Zacks Investment Research upgraded shares of Quanterix from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. ValuEngine cut shares of Quanterix from a “buy” rating to a “hold” rating in a report on Thursday, January 16th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $35.00 price target on shares of Quanterix in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $31.33.

NASDAQ QTRX traded down $1.23 on Monday, hitting $26.69. 124,638 shares of the stock were exchanged, compared to its average volume of 125,013. The company has a quick ratio of 7.00, a current ratio of 7.61 and a debt-to-equity ratio of 0.06. Quanterix has a fifty-two week low of $19.08 and a fifty-two week high of $36.15. The company has a market cap of $782.17 million, a PE ratio of -15.98 and a beta of 1.27. The company has a 50-day moving average price of $26.04 and a 200-day moving average price of $24.36.

In related news, Director Martin D. Madaus sold 1,600 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $26.52, for a total value of $42,432.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO E Kevin Hrusovsky sold 6,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $22.17, for a total transaction of $144,105.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,168 shares of company stock valued at $1,660,503. 30.80% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in QTRX. Vanguard Group Inc. raised its position in Quanterix by 5.7% during the 2nd quarter. Vanguard Group Inc. now owns 502,525 shares of the company’s stock worth $16,981,000 after buying an additional 26,894 shares during the last quarter. Invesco Ltd. purchased a new position in Quanterix during the 2nd quarter worth $1,078,000. Royal Bank of Canada raised its position in Quanterix by 116.4% during the 2nd quarter. Royal Bank of Canada now owns 6,285 shares of the company’s stock worth $213,000 after buying an additional 3,380 shares during the last quarter. State of Michigan Retirement System purchased a new position in Quanterix during the 3rd quarter worth $2,202,000. Finally, Essex Investment Management Co. LLC raised its position in Quanterix by 114.8% during the 3rd quarter. Essex Investment Management Co. LLC now owns 129,837 shares of the company’s stock worth $2,851,000 after buying an additional 69,385 shares during the last quarter. Institutional investors own 70.53% of the company’s stock.

Quanterix Company Profile

Quanterix Corporation, a life sciences company, develops and markets ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Simoa HD-1 instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids.

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