Accelerate Diagnostics Inc (NASDAQ:AXDX) Expected to Announce Earnings of -$0.40 Per Share

Wall Street brokerages predict that Accelerate Diagnostics Inc (NASDAQ:AXDX) will report ($0.40) earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Accelerate Diagnostics’ earnings. The highest EPS estimate is ($0.36) and the lowest is ($0.42). Accelerate Diagnostics reported earnings per share of ($0.43) during the same quarter last year, which suggests a positive year-over-year growth rate of 7%. The business is expected to issue its next quarterly earnings results on Monday, August 5th.

On average, analysts expect that Accelerate Diagnostics will report full year earnings of ($1.60) per share for the current fiscal year, with EPS estimates ranging from ($1.68) to ($1.47). For the next year, analysts anticipate that the company will report earnings of ($1.56) per share, with EPS estimates ranging from ($1.64) to ($1.45). Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that follow Accelerate Diagnostics.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings data on Thursday, May 9th. The medical research company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.03. The company had revenue of $1.75 million for the quarter, compared to the consensus estimate of $2.12 million. Accelerate Diagnostics had a negative net margin of 1,352.80% and a negative return on equity of 130.94%.

A number of research firms recently issued reports on AXDX. BidaskClub raised shares of Accelerate Diagnostics from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 5th. ValuEngine downgraded shares of Accelerate Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Finally, Zacks Investment Research raised shares of Accelerate Diagnostics from a “sell” rating to a “hold” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $19.67.

A number of large investors have recently modified their holdings of the business. Rhumbline Advisers boosted its holdings in shares of Accelerate Diagnostics by 45.3% in the 4th quarter. Rhumbline Advisers now owns 35,148 shares of the medical research company’s stock worth $404,000 after acquiring an additional 10,957 shares in the last quarter. First Trust Advisors LP bought a new position in Accelerate Diagnostics in the 4th quarter worth approximately $477,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Accelerate Diagnostics by 82.2% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,556 shares of the medical research company’s stock worth $159,000 after purchasing an additional 6,114 shares during the last quarter. Stifel Financial Corp raised its position in Accelerate Diagnostics by 24.6% in the 4th quarter. Stifel Financial Corp now owns 556,763 shares of the medical research company’s stock worth $6,365,000 after purchasing an additional 110,034 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Accelerate Diagnostics by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 307,860 shares of the medical research company’s stock worth $3,540,000 after purchasing an additional 9,188 shares during the last quarter. 50.58% of the stock is currently owned by institutional investors and hedge funds.

AXDX opened at $20.28 on Wednesday. The company has a current ratio of 25.36, a quick ratio of 24.03 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $1.09 billion, a P/E ratio of -12.52 and a beta of 2.83. Accelerate Diagnostics has a 12-month low of $10.23 and a 12-month high of $24.75.

About Accelerate Diagnostics

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States, Europe, and the Middle East. 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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