Accelerate Diagnostics (AXDX) Issues Quarterly Earnings Results

Share on StockTwits

Accelerate Diagnostics (NASDAQ:AXDX) announced its quarterly earnings results on Tuesday. The medical research company reported ($0.41) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.41), Morningstar.com reports. Accelerate Diagnostics had a negative return on equity of 67.75% and a negative net margin of 1,405.87%. The business had revenue of $1.36 million during the quarter, compared to the consensus estimate of $2.89 million.

Accelerate Diagnostics stock traded down $1.88 during mid-day trading on Wednesday, hitting $14.42. 1,185,586 shares of the company’s stock traded hands, compared to its average volume of 252,879. Accelerate Diagnostics has a fifty-two week low of $13.25 and a fifty-two week high of $30.35. The company has a market capitalization of $875.79 million, a price-to-earnings ratio of -12.43 and a beta of 2.49. The company has a debt-to-equity ratio of 1.22, a current ratio of 27.12 and a quick ratio of 25.67.

AXDX has been the subject of several research reports. BidaskClub downgraded Accelerate Diagnostics from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $24.00 price target on shares of Accelerate Diagnostics in a report on Tuesday, August 7th. JPMorgan Chase & Co. downgraded Accelerate Diagnostics from an “overweight” rating to a “neutral” rating and cut their price target for the company from $25.00 to $16.00 in a report on Wednesday. Finally, Zacks Investment Research raised Accelerate Diagnostics from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $21.67.

A number of institutional investors have recently made changes to their positions in AXDX. SRS Capital Advisors Inc. acquired a new stake in Accelerate Diagnostics during the 3rd quarter valued at $115,000. Cornerstone Wealth Management LLC acquired a new stake in shares of Accelerate Diagnostics during the second quarter worth $210,000. Trellus Management Company LLC acquired a new stake in shares of Accelerate Diagnostics during the third quarter worth $566,000. Thompson Investment Management Inc. lifted its holdings in shares of Accelerate Diagnostics by 10.6% during the second quarter. Thompson Investment Management Inc. now owns 31,200 shares of the medical research company’s stock worth $696,000 after buying an additional 3,000 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Accelerate Diagnostics by 33.8% during the second quarter. CIBC Private Wealth Group LLC now owns 60,550 shares of the medical research company’s stock worth $1,350,000 after buying an additional 15,305 shares in the last quarter. 45.34% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “Accelerate Diagnostics (AXDX) Issues Quarterly Earnings Results” was originally posted by Week Herald and is the sole property of of Week Herald. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be viewed at https://weekherald.com/2018/11/07/accelerate-diagnostics-axdx-issues-quarterly-earnings-results.html.

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.

Featured Story: Stock Split

Earnings History for Accelerate Diagnostics (NASDAQ:AXDX)

Receive News & Ratings for Accelerate Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accelerate Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply