Wall Street brokerages forecast that NanoString Technologies (NASDAQ:NSTG) will announce earnings of ($0.76) per share for the current quarter, according to Zacks. Three analysts have provided estimates for NanoString Technologies’ earnings, with the highest EPS estimate coming in at ($0.71) and the lowest estimate coming in at ($0.83). NanoString Technologies reported earnings per share of ($0.87) during the same quarter last year, which suggests a positive year-over-year growth rate of 12.6%. The company is expected to report its next earnings results after the market closes on Tuesday, May 8th.
On average, analysts expect that NanoString Technologies will report full-year earnings of ($2.79) per share for the current year, with EPS estimates ranging from ($2.87) to ($2.75). For the next year, analysts expect that the firm will post earnings of ($2.16) per share, with EPS estimates ranging from ($2.83) to ($1.86). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for NanoString Technologies.
NanoString Technologies (NASDAQ:NSTG) last announced its quarterly earnings data on Wednesday, March 7th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.08. NanoString Technologies had a negative net margin of 37.91% and a negative return on equity of 129.90%. The business had revenue of $35.20 million during the quarter, compared to analyst estimates of $31.57 million. During the same period last year, the firm posted ($0.55) EPS. The company’s revenue was up 39.7% on a year-over-year basis.
In related news, Director William Young acquired 30,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was acquired at an average cost of $6.91 per share, with a total value of $207,300.00. Following the acquisition, the director now directly owns 30,000 shares in the company, valued at approximately $207,300. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 24.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of NSTG. State Street Corp grew its holdings in shares of NanoString Technologies by 13.4% in the second quarter. State Street Corp now owns 261,864 shares of the biotechnology company’s stock valued at $4,332,000 after purchasing an additional 30,864 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of NanoString Technologies by 25.2% in the second quarter. The Manufacturers Life Insurance Company now owns 15,542 shares of the biotechnology company’s stock valued at $257,000 after purchasing an additional 3,132 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of NanoString Technologies by 1.3% in the second quarter. California State Teachers Retirement System now owns 31,367 shares of the biotechnology company’s stock valued at $519,000 after purchasing an additional 400 shares in the last quarter. Nationwide Fund Advisors grew its holdings in shares of NanoString Technologies by 17.1% in the third quarter. Nationwide Fund Advisors now owns 48,125 shares of the biotechnology company’s stock valued at $778,000 after purchasing an additional 7,027 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of NanoString Technologies in the third quarter valued at $240,000. 91.96% of the stock is owned by hedge funds and other institutional investors.
NSTG traded up $0.38 during trading on Wednesday, reaching $9.12. 287,081 shares of the company traded hands, compared to its average volume of 238,437. The company has a quick ratio of 2.84, a current ratio of 3.40 and a debt-to-equity ratio of 1.22. NanoString Technologies has a 12-month low of $5.87 and a 12-month high of $19.68.
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NanoString Technologies Company Profile
NanoString Technologies, Inc provides life science tools for translational research and molecular diagnostic products worldwide. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system. It provides nCounter MAX and FLEX systems that include Prep Station, an automated liquid handling component that processes and prepares samples for data collection; and nCounter Digital Analyzer, which collects data from samples by taking images of the immobilized fluorescent reporters in the sample cartridge and processing the data into output files.
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