Baird Financial Group Inc. bought a new position in shares of Accelerate Diagnostics Inc (NASDAQ:AXDX) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 98,618 shares of the medical research company’s stock, valued at approximately $2,584,000.
Several other hedge funds also recently made changes to their positions in AXDX. TIAA CREF Investment Management LLC boosted its holdings in shares of Accelerate Diagnostics by 12.6% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 69,821 shares of the medical research company’s stock worth $1,910,000 after buying an additional 7,796 shares during the period. New York State Common Retirement Fund boosted its holdings in Accelerate Diagnostics by 57.9% in the 2nd quarter. New York State Common Retirement Fund now owns 38,225 shares of the medical research company’s stock valued at $1,045,000 after purchasing an additional 14,024 shares during the period. UBS Asset Management Americas Inc. bought a new stake in Accelerate Diagnostics in the 2nd quarter valued at about $243,000. Northern Trust Corp boosted its holdings in Accelerate Diagnostics by 6.8% in the 2nd quarter. Northern Trust Corp now owns 330,466 shares of the medical research company’s stock valued at $9,038,000 after purchasing an additional 21,160 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Accelerate Diagnostics by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,237,174 shares of the medical research company’s stock valued at $33,837,000 after purchasing an additional 77,753 shares during the period. 47.21% of the stock is owned by institutional investors and hedge funds.
In other news, Director Jack W. Schuler purchased 20,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was bought at an average price of $24.95 per share, with a total value of $499,000.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jack W. Schuler purchased 10,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average cost of $25.21 per share, with a total value of $252,100.00. The disclosure for this purchase can be found here. Insiders own 50.00% of the company’s stock.
Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings data on Thursday, February 15th. The medical research company reported ($0.27) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.05. The firm had revenue of $2.10 million during the quarter. Accelerate Diagnostics had a negative net margin of 1,520.99% and a negative return on equity of 55.26%. equities analysts anticipate that Accelerate Diagnostics Inc will post -1.2 earnings per share for the current year.
AXDX has been the subject of a number of recent research reports. BTIG Research downgraded shares of Accelerate Diagnostics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 13th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a report on Monday, January 15th. ValuEngine raised shares of Accelerate Diagnostics from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Finally, BidaskClub raised shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $33.00.
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Accelerate Diagnostics Profile
Accelerate Diagnostics, Inc is an in vitro diagnostics company engaged in providing solutions that develop patient outcomes through the diagnosis of serious infections. The Company’s in vitro diagnostic platform, the Accelerate Pheno system utilizes genotypic technology to identify (ID), infectious pathogens and phenotypic technology to conduct antibiotic susceptibility testing (AST), which determines whether live bacterial or fungal cells are resistant or susceptible to a particular antibiotic.
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