InVitae Corp (NYSE:NVTA) Expected to Post Quarterly Sales of $68.78 Million

Wall Street brokerages forecast that InVitae Corp (NYSE:NVTA) will post sales of $68.78 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for InVitae’s earnings, with the lowest sales estimate coming in at $65.60 million and the highest estimate coming in at $70.78 million. InVitae posted sales of $45.36 million during the same quarter last year, which would indicate a positive year over year growth rate of 51.6%. The business is expected to announce its next earnings report after the market closes on Wednesday, February 19th.

On average, analysts expect that InVitae will report full-year sales of $216.20 million for the current financial year. For the next year, analysts anticipate that the company will report sales of $319.57 million, with estimates ranging from $307.27 million to $333.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow InVitae.

NVTA has been the topic of a number of research analyst reports. ValuEngine lowered InVitae from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Zacks Investment Research lowered InVitae from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. InVitae has an average rating of “Buy” and an average price target of $27.83.

Several large investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC grew its holdings in shares of InVitae by 34.0% during the 4th quarter. ARK Investment Management LLC now owns 10,509,132 shares of the medical research company’s stock worth $169,512,000 after purchasing an additional 2,667,936 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of InVitae by 39.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,057,040 shares of the medical research company’s stock worth $162,220,000 after purchasing an additional 2,833,454 shares in the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of InVitae by 37.8% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 10,057,040 shares of the medical research company’s stock worth $162,220,000 after purchasing an additional 2,757,337 shares in the last quarter. State Street Corp grew its holdings in shares of InVitae by 27.5% during the 4th quarter. State Street Corp now owns 6,107,351 shares of the medical research company’s stock worth $98,512,000 after purchasing an additional 1,318,766 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of InVitae by 46.9% during the 4th quarter. Victory Capital Management Inc. now owns 2,305,957 shares of the medical research company’s stock worth $43,006,000 after purchasing an additional 736,287 shares in the last quarter. Institutional investors and hedge funds own 93.56% of the company’s stock.

NYSE NVTA traded up $0.79 on Friday, reaching $27.04. The company had a trading volume of 3,429,900 shares, compared to its average volume of 3,046,787. InVitae has a 1 year low of $14.35 and a 1 year high of $28.75. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.38 and a quick ratio of 7.38. The firm has a 50-day moving average of $19.04 and a 200-day moving average of $19.93. The firm has a market capitalization of $2.53 billion, a PE ratio of -12.13 and a beta of 2.43.

About InVitae

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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