10x Genomics, Inc. (NASDAQ:TXG) Expected to Post Quarterly Sales of $127.98 Million

Wall Street analysts predict that 10x Genomics, Inc. (NASDAQ:TXGGet Rating) will report sales of $127.98 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for 10x Genomics’ earnings, with the highest sales estimate coming in at $132.45 million and the lowest estimate coming in at $123.00 million. 10x Genomics reported sales of $115.84 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.5%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that 10x Genomics will report full year sales of $611.42 million for the current year, with estimates ranging from $603.70 million to $617.32 million. For the next fiscal year, analysts expect that the firm will post sales of $828.42 million, with estimates ranging from $782.10 million to $853.35 million. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for 10x Genomics.

10x Genomics (NASDAQ:TXGGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.07). The business had revenue of $114.50 million for the quarter, compared to analyst estimates of $113.33 million. 10x Genomics had a negative net margin of 17.85% and a negative return on equity of 11.10%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) earnings per share.

Several research firms recently weighed in on TXG. Citigroup cut their price target on shares of 10x Genomics from $150.00 to $100.00 in a report on Thursday, May 5th. Zacks Investment Research upgraded shares of 10x Genomics from a “sell” rating to a “hold” rating in a report on Thursday, February 17th. The Goldman Sachs Group cut their price target on shares of 10x Genomics from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, April 13th. Finally, Cowen cut their price target on shares of 10x Genomics from $205.00 to $145.00 in a report on Thursday, February 17th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $128.57.

In related news, CEO Serge Saxonov sold 2,656 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $48.76, for a total transaction of $129,506.56. Following the sale, the chief executive officer now owns 968,817 shares of the company’s stock, valued at approximately $47,239,516.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin J. Hindson sold 1,264 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $48.76, for a total transaction of $61,632.64. Following the sale, the insider now directly owns 187,538 shares in the company, valued at approximately $9,144,352.88. The disclosure for this sale can be found here. In the last three months, insiders sold 4,887 shares of company stock worth $238,290. Insiders own 11.57% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership grew its stake in 10x Genomics by 19.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 27,100 shares of the company’s stock worth $3,945,000 after buying an additional 4,500 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in 10x Genomics in the 4th quarter worth approximately $210,000. Charles Schwab Investment Management Inc. grew its stake in 10x Genomics by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 492,256 shares of the company’s stock worth $73,327,000 after buying an additional 17,092 shares in the last quarter. FDx Advisors Inc. grew its stake in 10x Genomics by 18.0% in the 4th quarter. FDx Advisors Inc. now owns 3,059 shares of the company’s stock worth $456,000 after buying an additional 467 shares in the last quarter. Finally, Citizens Financial Group Inc RI purchased a new position in 10x Genomics in the 4th quarter worth approximately $466,000. 76.25% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ TXG opened at $52.99 on Thursday. The company has a 50-day moving average price of $59.09 and a 200-day moving average price of $94.06. 10x Genomics has a 1 year low of $36.76 and a 1 year high of $208.99.

10x Genomics Company Profile (Get Rating)

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium and chromium connect instruments, microfluidic chips, slides, reagents, and other consumables products.

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