Invitae Co. (NYSE:NVTA) Expected to Post Earnings of -$0.60 Per Share

Equities analysts expect Invitae Co. (NYSE:NVTA) to post earnings per share (EPS) of ($0.60) for the current quarter, according to Zacks. Four analysts have provided estimates for Invitae’s earnings, with estimates ranging from ($0.70) to ($0.56). Invitae reported earnings per share of ($0.80) in the same quarter last year, which suggests a positive year over year growth rate of 25%. The company is scheduled to issue its next earnings report on Tuesday, May 4th.

According to Zacks, analysts expect that Invitae will report full year earnings of ($2.33) per share for the current year, with EPS estimates ranging from ($2.60) to ($1.99). For the next fiscal year, analysts anticipate that the firm will post earnings of ($1.96) per share, with EPS estimates ranging from ($2.71) to ($1.05). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Invitae.

Invitae (NYSE:NVTA) last released its quarterly earnings results on Tuesday, February 16th. The medical research company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.08). Invitae had a negative net margin of 183.50% and a negative return on equity of 81.19%. The company had revenue of $100.43 million during the quarter, compared to the consensus estimate of $97.87 million.

A number of equities research analysts have commented on the company. Oppenheimer upgraded Invitae from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research report on Monday, April 5th. They noted that the move was a valuation call. LADENBURG THALM/SH SH raised Invitae from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $46.50 to $58.00 in a research note on Thursday, February 25th. Morgan Stanley boosted their price objective on Invitae from $41.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, February 25th. SVB Leerink boosted their price objective on Invitae from $64.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, February 25th. Finally, Zacks Investment Research downgraded Invitae from a “hold” rating to a “sell” rating in a research note on Tuesday, February 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $49.57.

Shares of NYSE NVTA traded down $0.27 during trading on Friday, reaching $38.00. The company had a trading volume of 2,836,780 shares, compared to its average volume of 4,669,392. The company’s fifty day moving average price is $40.07 and its 200-day moving average price is $46.25. Invitae has a 12 month low of $12.42 and a 12 month high of $61.59. The stock has a market cap of $7.47 billion, a P/E ratio of -9.77 and a beta of 2.11. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 0.68.

In related news, insider Katherine Stueland sold 4,199 shares of the company’s stock in a transaction that occurred on Wednesday, January 13th. The stock was sold at an average price of $51.82, for a total transaction of $217,592.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sean E. George sold 3,675 shares of the company’s stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $42.61, for a total value of $156,591.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,441 shares of company stock worth $5,617,770. 2.90% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of NVTA. Norges Bank purchased a new stake in shares of Invitae in the fourth quarter worth approximately $60,491,000. Price T Rowe Associates Inc. MD raised its stake in shares of Invitae by 89.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,112,725 shares of the medical research company’s stock worth $88,333,000 after purchasing an additional 997,639 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Invitae by 40.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 838,343 shares of the medical research company’s stock worth $35,051,000 after purchasing an additional 240,536 shares during the last quarter. Thornburg Investment Management Inc. purchased a new stake in shares of Invitae in the fourth quarter worth approximately $8,739,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Invitae in the third quarter worth approximately $7,993,000. 78.60% of the stock is owned by hedge funds and other institutional investors.

About Invitae

Invitae Corporation, a medical genetics company, integrates genetic information into healthcare decision-making by clinicians and patients in the United States, Canada, and internationally. The company offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, oncology, metabolic conditions, and rare diseases.

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Earnings History and Estimates for Invitae (NYSE:NVTA)

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