$6.52 Million in Sales Expected for Accelerate Diagnostics Inc (AXDX) This Quarter

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Wall Street analysts expect Accelerate Diagnostics Inc (NASDAQ:AXDX) to post $6.52 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Accelerate Diagnostics’ earnings, with the lowest sales estimate coming in at $6.10 million and the highest estimate coming in at $7.17 million. Accelerate Diagnostics reported sales of $2.10 million in the same quarter last year, which would indicate a positive year over year growth rate of 210.5%. The firm is expected to report its next earnings results on Thursday, February 21st.

According to Zacks, analysts expect that Accelerate Diagnostics will report full year sales of $11.90 million for the current year, with estimates ranging from $10.50 million to $12.92 million. For the next fiscal year, analysts forecast that the firm will post sales of $49.18 million, with estimates ranging from $45.31 million to $51.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Accelerate Diagnostics.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings results on Tuesday, November 6th. The medical research company reported ($0.41) earnings per share for the quarter, hitting the consensus estimate of ($0.41). The company had revenue of $1.36 million for the quarter, compared to the consensus estimate of $2.89 million. Accelerate Diagnostics had a negative return on equity of 67.75% and a negative net margin of 1,405.87%.

Several research firms recently weighed in on AXDX. JPMorgan Chase & Co. downgraded Accelerate Diagnostics from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $16.00 in a research note on Wednesday. BidaskClub raised Accelerate Diagnostics from a “strong sell” rating to a “sell” rating in a research report on Saturday. Zacks Investment Research raised Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Accelerate Diagnostics in a research report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $21.67.

Shares of Accelerate Diagnostics stock traded down $1.88 during midday trading on Friday, hitting $14.42. The company had a trading volume of 52,411 shares, compared to its average volume of 377,436. The company has a quick ratio of 25.67, a current ratio of 27.12 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $875.79 million, a P/E ratio of -12.43 and a beta of 2.49. Accelerate Diagnostics has a 52-week low of $14.20 and a 52-week high of $30.35.

A number of hedge funds have recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. bought a new position in Accelerate Diagnostics in the 3rd quarter valued at approximately $115,000. Trellus Management Company LLC bought a new position in Accelerate Diagnostics in the 3rd quarter valued at approximately $566,000. Chicago Capital LLC lifted its position in Accelerate Diagnostics by 17.1% in the 3rd quarter. Chicago Capital LLC now owns 630,053 shares of the medical research company’s stock valued at $14,460,000 after acquiring an additional 91,862 shares in the last quarter. Northern Trust Corp lifted its position in Accelerate Diagnostics by 2.5% in the 2nd quarter. Northern Trust Corp now owns 350,809 shares of the medical research company’s stock valued at $7,823,000 after acquiring an additional 8,608 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC lifted its position in Accelerate Diagnostics by 166.7% in the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 80,000 shares of the medical research company’s stock valued at $1,784,000 after acquiring an additional 50,000 shares in the last quarter. 45.34% 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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Earnings History and Estimates for Accelerate Diagnostics (NASDAQ:AXDX)

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