ValuEngine Lowers Accelerate Diagnostics (NASDAQ:AXDX) to Hold

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Accelerate Diagnostics (NASDAQ:AXDX) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday, ValuEngine reports.

A number of other analysts have also recently weighed in on the stock. BidaskClub upgraded shares of Accelerate Diagnostics from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Piper Jaffray Companies reduced their target price on shares of Accelerate Diagnostics from $22.00 to $19.00 and set a “positive” rating for the company in a report on Friday, August 9th. Finally, Zacks Investment Research cut shares of Accelerate Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $18.67.

Accelerate Diagnostics stock opened at $21.34 on Tuesday. The firm has a 50 day simple moving average of $18.48 and a 200-day simple moving average of $19.56. The company has a debt-to-equity ratio of 4.81, a current ratio of 19.99 and a quick ratio of 18.89. The stock has a market capitalization of $1.12 billion, a PE ratio of -13.17 and a beta of 2.71. Accelerate Diagnostics has a 12-month low of $10.23 and a 12-month high of $24.00.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Thursday, August 8th. The medical research company reported ($0.38) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.02. The firm had revenue of $1.81 million during the quarter, compared to analysts’ expectations of $2.71 million. Accelerate Diagnostics had a negative net margin of 1,293.91% and a negative return on equity of 170.47%. On average, analysts forecast that Accelerate Diagnostics will post -1.58 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Accelerate Diagnostics by 15.4% during the second quarter. BlackRock Inc. now owns 2,004,650 shares of the medical research company’s stock worth $45,865,000 after buying an additional 267,704 shares in the last quarter. AXA boosted its holdings in Accelerate Diagnostics by 304.0% during the second quarter. AXA now owns 1,762,505 shares of the medical research company’s stock worth $40,326,000 after buying an additional 1,326,233 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Accelerate Diagnostics by 0.4% during the second quarter. Vanguard Group Inc. now owns 1,392,496 shares of the medical research company’s stock worth $31,861,000 after buying an additional 5,041 shares in the last quarter. FMR LLC lifted its position in shares of Accelerate Diagnostics by 16.1% in the 1st quarter. FMR LLC now owns 857,069 shares of the medical research company’s stock valued at $18,016,000 after acquiring an additional 118,620 shares in the last quarter. Finally, Griffin Asset Management Inc. lifted its position in shares of Accelerate Diagnostics by 13.4% in the 2nd quarter. Griffin Asset Management Inc. now owns 550,046 shares of the medical research company’s stock valued at $12,585,000 after acquiring an additional 65,175 shares in the last quarter. Hedge funds and other institutional investors own 54.02% of the company’s stock.

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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