-$0.64 Earnings Per Share Expected for InVitae Corp (NYSE:NVTA) This Quarter

Equities research analysts expect InVitae Corp (NYSE:NVTA) to announce earnings per share of ($0.64) for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for InVitae’s earnings, with the lowest EPS estimate coming in at ($0.75) and the highest estimate coming in at ($0.43). InVitae posted earnings of ($0.52) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 23.1%. The business is scheduled to report its next quarterly earnings results on Tuesday, August 4th.

On average, analysts expect that InVitae will report full-year earnings of ($2.66) per share for the current financial year, with EPS estimates ranging from ($2.74) to ($2.58). For the next year, analysts anticipate that the company will report earnings of ($1.83) per share, with EPS estimates ranging from ($2.26) to ($0.93). Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for InVitae.

InVitae (NYSE:NVTA) last issued its earnings results on Tuesday, May 5th. The medical research company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.04. InVitae had a negative net margin of 127.42% and a negative return on equity of 69.95%. The company had revenue of $64.25 million for the quarter, compared to analyst estimates of $59.41 million. During the same quarter last year, the firm earned ($0.47) EPS. The company’s revenue for the quarter was up 58.4% on a year-over-year basis.

Several analysts have commented on the stock. SVB Leerink upped their target price on shares of InVitae from $20.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. They noted that the move was a valuation call. Zacks Investment Research upgraded InVitae from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Tuesday, April 7th. Benchmark reduced their target price on InVitae from $31.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Oppenheimer restated a “buy” rating and set a $29.00 target price on shares of InVitae in a research report on Monday, June 22nd. Finally, Cowen raised their price objective on InVitae from $18.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday. Seven analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus price target of $25.83.

Shares of NYSE NVTA opened at $27.89 on Wednesday. InVitae has a fifty-two week low of $7.41 and a fifty-two week high of $30.23. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.95 and a current ratio of 2.95. The company’s 50 day simple moving average is $17.95 and its 200 day simple moving average is $17.45.

In other InVitae news, COO E Lee Bendekgey sold 18,665 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $18.11, for a total value of $338,023.15. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Robert L. Nussbaum sold 19,893 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $17.28, for a total transaction of $343,751.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,580 shares of company stock worth $1,547,142. Company insiders own 2.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of NVTA. Benjamin Edwards Inc. grew its holdings in InVitae by 46.7% during the 1st quarter. Benjamin Edwards Inc. now owns 2,217 shares of the medical research company’s stock worth $30,000 after acquiring an additional 706 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of InVitae by 0.6% during the first quarter. Principal Financial Group Inc. now owns 136,624 shares of the medical research company’s stock worth $1,868,000 after purchasing an additional 853 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of InVitae by 5.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,396 shares of the medical research company’s stock worth $251,000 after purchasing an additional 906 shares during the last quarter. Amalgamated Bank increased its holdings in InVitae by 6.0% in the fourth quarter. Amalgamated Bank now owns 16,324 shares of the medical research company’s stock valued at $263,000 after purchasing an additional 927 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in InVitae by 15.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,813 shares of the medical research company’s stock valued at $107,000 after purchasing an additional 1,023 shares during the period. Institutional investors and hedge funds own 81.56% of the company’s stock.

InVitae Company Profile

Invitae Corporation, a genetic information company, processes DNA-containing samples, analyzes information related to patient-specific genetic variation, and generates test reports for clinicians and their patients in the United States, Canada, and internationally. Its tests include genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; and screening and testing services in reproductive health, including preimplantation and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.

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Earnings History and Estimates for InVitae (NYSE:NVTA)

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