Accelerate Diagnostics, Inc. (AXDX) Expected to Post Quarterly Sales of $2.79 Million

Equities analysts expect Accelerate Diagnostics, Inc. (NASDAQ:AXDX) to report sales of $2.79 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Accelerate Diagnostics’ earnings, with estimates ranging from $2.20 million to $3.13 million. Accelerate Diagnostics posted sales of $500,000.00 during the same quarter last year, which suggests a positive year over year growth rate of 458%. The business is scheduled to report its next quarterly earnings results on Friday, May 4th.

On average, analysts expect that Accelerate Diagnostics will report full year sales of $24.30 million for the current year, with estimates ranging from $22.22 million to $25.39 million. For the next year, analysts expect that the company will post sales of $78.24 million per share, with estimates ranging from $78.10 million to $78.37 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Accelerate Diagnostics.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its earnings results 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 54.66%.

AXDX has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research note on Monday, January 8th. ValuEngine upgraded shares of Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. BidaskClub cut shares of Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Finally, BTIG Research reiterated a “hold” rating on shares of Accelerate Diagnostics in a research note on Sunday, February 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Accelerate Diagnostics presently has an average rating of “Hold” and a consensus price target of $33.00.

In other news, Director Jack W. Schuler purchased 15,000 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were bought at an average price of $25.15 per share, with a total value of $377,250.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack W. Schuler purchased 10,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was purchased at an average cost of $25.21 per share, for a total transaction of $252,100.00. The disclosure for this purchase can be found here. Insiders acquired 45,100 shares of company stock valued at $1,130,850 over the last quarter. Corporate insiders own 50.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Nationwide Fund Advisors raised its position in shares of Accelerate Diagnostics by 8.5% in the third quarter. Nationwide Fund Advisors now owns 39,730 shares of the medical research company’s stock valued at $892,000 after purchasing an additional 3,120 shares during the period. Schwab Charles Investment Management Inc. increased its position in Accelerate Diagnostics by 4.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 128,814 shares of the medical research company’s stock worth $3,375,000 after acquiring an additional 5,277 shares during the period. Cpwm LLC bought a new position in Accelerate Diagnostics during the fourth quarter worth $202,000. UBS Asset Management Americas Inc. bought a new position in Accelerate Diagnostics during the fourth quarter worth $233,000. Finally, Teacher Retirement System of Texas bought a new position in Accelerate Diagnostics during the fourth quarter worth $292,000. 44.89% of the stock is currently owned by institutional investors.

NASDAQ AXDX traded down $0.05 during trading on Friday, reaching $24.60. The company’s stock had a trading volume of 42,704 shares, compared to its average volume of 239,005. The stock has a market capitalization of $1,366.93, a PE ratio of -21.29 and a beta of 2.13. Accelerate Diagnostics has a 1-year low of $16.75 and a 1-year high of $30.45.

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Accelerate Diagnostics Company Profile

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