-$0.60 EPS Expected for Invitae Co. (NYSE:NVTA) This Quarter

Equities research analysts forecast that Invitae Co. (NYSE:NVTA) will post earnings of ($0.60) per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Invitae’s earnings. The highest EPS estimate is ($0.56) and the lowest is ($0.70). Invitae posted earnings per share of ($0.80) in the same quarter last year, which would indicate a positive year-over-year growth rate of 25%. The business is scheduled to issue its next earnings results on Tuesday, May 4th.

On average, analysts expect that Invitae will report full-year earnings of ($2.33) per share for the current financial year, with EPS estimates ranging from ($2.60) to ($1.99). For the next financial year, analysts anticipate that the firm will report earnings of ($1.96) per share, with EPS estimates ranging from ($2.71) to ($1.05). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Invitae.

Invitae (NYSE:NVTA) last posted its quarterly earnings data on Tuesday, February 16th. The medical research company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.08). The company had revenue of $100.43 million during the quarter, compared to the consensus estimate of $97.87 million. Invitae had a negative net margin of 183.50% and a negative return on equity of 81.19%.

Several research analysts have recently issued reports on NVTA shares. Morgan Stanley increased their price objective on shares of Invitae from $41.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, February 25th. Zacks Investment Research cut shares of Invitae from a “hold” rating to a “sell” rating in a report on Tuesday, February 23rd. SVB Leerink increased their price objective on shares of Invitae from $64.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, February 25th. Oppenheimer raised shares of Invitae from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research note on Monday. They noted that the move was a valuation call. Finally, LADENBURG THALM/SH SH raised shares of Invitae from a “neutral” rating to a “buy” rating and increased their target price for the company from $46.50 to $58.00 in a research note on Thursday, February 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Invitae presently has a consensus rating of “Hold” and a consensus target price of $45.88.

In related news, insider Katherine Stueland sold 4,199 shares of the company’s stock in a transaction that occurred on Wednesday, January 13th. The shares were sold at an average price of $51.82, for a total value of $217,592.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Geoffrey Crouse sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 22nd. The shares were sold at an average price of $48.62, for a total transaction of $486,200.00. Following the completion of the sale, the director now owns 21,459 shares of the company’s stock, valued at approximately $1,043,336.58. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,441 shares of company stock valued at $5,617,770. 2.90% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its position in Invitae by 4.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 69,081 shares of the medical research company’s stock worth $2,888,000 after buying an additional 2,942 shares in the last quarter. Aperio Group LLC lifted its position in Invitae by 26.3% in the 4th quarter. Aperio Group LLC now owns 32,968 shares of the medical research company’s stock worth $1,378,000 after buying an additional 6,870 shares in the last quarter. Steel Peak Wealth Management LLC lifted its position in Invitae by 297.7% in the 4th quarter. Steel Peak Wealth Management LLC now owns 23,900 shares of the medical research company’s stock worth $999,000 after buying an additional 17,891 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Invitae by 89.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,112,725 shares of the medical research company’s stock worth $88,333,000 after buying an additional 997,639 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in Invitae in the 4th quarter worth approximately $2,027,000. Institutional investors own 78.60% of the company’s stock.

Shares of Invitae stock traded up $1.14 on Friday, hitting $38.50. The company had a trading volume of 61,211 shares, compared to its average volume of 4,729,603. The business has a 50-day simple moving average of $40.49 and a 200-day simple moving average of $46.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.09 and a quick ratio of 4.09. The company has a market cap of $7.57 billion, a PE ratio of -9.97 and a beta of 2.11. Invitae has a 52 week low of $12.42 and a 52 week high of $61.59.

About Invitae

Invitae Corporation, a medical genetics 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. It offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, metabolic conditions, and rare diseases; prenatal and perinatal genetic tests; and non-invasive prenatal screening products.

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Earnings History and Estimates for Invitae (NYSE:NVTA)

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