Accelerate Diagnostics (AXDX) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Accelerate Diagnostics (NASDAQ:AXDX) from a sell rating to a hold rating in a research note issued to investors on Friday.

AXDX has been the topic of a number of other reports. Zacks Investment Research raised shares of Accelerate Diagnostics from a sell rating to a hold rating in a research report on Wednesday, February 21st. ValuEngine raised shares of Accelerate Diagnostics from a sell rating to a hold rating in a research report on Friday, February 2nd. Finally, BTIG Research reaffirmed a hold rating on shares of Accelerate Diagnostics in a research report on Sunday, February 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $33.00.

Shares of Accelerate Diagnostics traded down $0.55, reaching $21.60, during mid-day trading on Friday, according to MarketBeat Ratings. 283,139 shares of the company were exchanged, compared to its average volume of 284,876. The company has a debt-to-equity ratio of 0.65, a quick ratio of 26.44 and a current ratio of 27.80. The stock has a market cap of $1.20 billion, a PE ratio of -18.62 and a beta of 2.17. Accelerate Diagnostics has a twelve month low of $16.75 and a twelve month high of $30.45.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings results on Wednesday, May 9th. The medical research company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.05. Accelerate Diagnostics had a negative net margin of 1,568.29% and a negative return on equity of 51.23%. The business had revenue of $0.80 million for the quarter, compared to analyst estimates of $2.64 million. analysts predict that Accelerate Diagnostics will post -1.38 EPS for the current fiscal year.

In other Accelerate Diagnostics news, Director Jack W. Schuler purchased 10,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average cost of $25.21 per share, with a total value of $252,100.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack W. Schuler purchased 65,000 shares of the stock in a transaction that occurred on Monday, May 14th. The shares were acquired at an average cost of $19.97 per share, for a total transaction of $1,298,050.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 210,100 shares of company stock worth $4,361,900. 49.30% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in AXDX. Kornitzer Capital Management Inc. KS increased its holdings in Accelerate Diagnostics by 0.7% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 442,606 shares of the medical research company’s stock valued at $10,114,000 after buying an additional 3,102 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in Accelerate Diagnostics by 3.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 132,777 shares of the medical research company’s stock valued at $3,034,000 after buying an additional 3,963 shares during the period. Lee Financial Co bought a new position in Accelerate Diagnostics in the 1st quarter valued at about $128,000. Cpwm LLC bought a new position in Accelerate Diagnostics in the 4th quarter valued at about $202,000. Finally, UBS Asset Management Americas Inc. bought a new position in Accelerate Diagnostics in the 4th quarter valued at about $233,000. 45.33% of the stock is currently owned by institutional investors and hedge funds.

Accelerate Diagnostics Company Profile

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States. It offers Accelerate Pheno system, an in vitro diagnostic platform for the identification and antibiotic susceptibility testing of pathogens associated with serious or health care-associated infections, including gram-positive and gram-negative organisms, as well as yeast.

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