InVitae Corp (NYSE:NVTA) Expected to Post Earnings of -$0.48 Per Share

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Equities research analysts expect InVitae Corp (NYSE:NVTA) to report earnings per share (EPS) of ($0.48) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for InVitae’s earnings, with estimates ranging from ($0.54) to ($0.43). InVitae reported earnings per share of ($0.47) during the same quarter last year, which indicates a negative year over year growth rate of 2.1%. The company is expected to issue its next earnings report on Tuesday, August 6th.

On average, analysts expect that InVitae will report full year earnings of ($1.88) per share for the current fiscal year, with EPS estimates ranging from ($2.26) to ($1.63). For the next financial year, analysts forecast that the firm will report earnings of ($1.65) per share, with EPS estimates ranging from ($1.86) to ($1.41). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for InVitae.

InVitae (NYSE:NVTA) last released its quarterly earnings data on Tuesday, May 7th. The medical research company reported ($0.47) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.01). InVitae had a negative net margin of 81.52% and a negative return on equity of 65.76%. The firm had revenue of $40.55 million during the quarter, compared to analyst estimates of $47.17 million. During the same period in the prior year, the company earned ($0.66) EPS. The business’s quarterly revenue was up 46.5% compared to the same quarter last year.

NVTA has been the subject of several recent research reports. Benchmark upped their price objective on InVitae from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Zacks Investment Research downgraded Heritage Insurance from a “hold” rating to a “strong sell” rating in a research note on Friday, April 26th. Chardan Capital reaffirmed a “buy” rating and issued a $30.00 price objective on shares of InVitae in a research note on Tuesday, June 11th. Finally, Oppenheimer initiated coverage on Focus Financial Partners in a research note on Monday, April 8th. They issued an “outperform” rating and a $48.00 price objective for the company. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $26.40.

Shares of InVitae stock traded up $0.61 on Wednesday, hitting $24.83. The stock had a trading volume of 68,934 shares, compared to its average volume of 2,018,670. The company has a 50 day moving average of $21.29. InVitae has a twelve month low of $7.73 and a twelve month high of $26.77. The company has a quick ratio of 7.73, a current ratio of 7.73 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -12.48 and a beta of 2.52.

In other InVitae news, COO E Lee Bendekgey sold 4,657 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $18.78, for a total transaction of $87,458.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert L. Nussbaum sold 7,202 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $18.21, for a total transaction of $131,148.42. The disclosure for this sale can be found here. Insiders sold 93,229 shares of company stock valued at $1,701,067 in the last ninety days. 5.70% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Gilder Gagnon Howe & Co. LLC grew its position in shares of InVitae by 11.5% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 5,530,037 shares of the medical research company’s stock worth $129,513,000 after buying an additional 572,234 shares during the period. BlackRock Inc. grew its position in shares of InVitae by 6.4% during the 4th quarter. BlackRock Inc. now owns 5,351,727 shares of the medical research company’s stock worth $59,191,000 after buying an additional 321,241 shares during the period. Redmile Group LLC grew its position in shares of InVitae by 161.6% during the 1st quarter. Redmile Group LLC now owns 1,374,175 shares of the medical research company’s stock worth $32,183,000 after buying an additional 848,800 shares during the period. Victory Capital Management Inc. grew its position in shares of InVitae by 1,032.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,196,935 shares of the medical research company’s stock worth $28,033,000 after buying an additional 1,091,260 shares during the period. Finally, Nikko Asset Management Americas Inc. grew its position in shares of InVitae by 14,483.2% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 1,115,325 shares of the medical research company’s stock worth $26,121,000 after buying an additional 1,107,677 shares during the period. 79.16% of the stock is owned by institutional investors and hedge funds.

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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