Analysts expect Accelerate Diagnostics Inc (NASDAQ:AXDX) to post sales of $2.89 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Accelerate Diagnostics’ earnings, with the lowest sales estimate coming in at $1.90 million and the highest estimate coming in at $3.50 million. Accelerate Diagnostics posted sales of $830,000.00 during the same quarter last year, which suggests a positive year over year growth rate of 248.2%. The business is expected to report its next earnings report after the market closes on Tuesday, November 6th.
According to Zacks, analysts expect that Accelerate Diagnostics will report full year sales of $11.90 million for the current year, with estimates ranging from $10.50 million to $12.92 million. For the next fiscal year, analysts forecast that the business will report sales of $49.18 million, with estimates ranging from $45.31 million to $51.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Accelerate Diagnostics.
Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings data on Monday, August 6th. The medical research company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). Accelerate Diagnostics had a negative net margin of 1,405.87% and a negative return on equity of 67.75%. The business had revenue of $1.69 million during the quarter, compared to analyst estimates of $2.17 million.
Shares of AXDX stock opened at $16.18 on Friday. Accelerate Diagnostics has a 52-week low of $14.20 and a 52-week high of $30.35. The firm has a market capitalization of $875.79 million, a PE ratio of -13.95 and a beta of 2.49. The company has a quick ratio of 25.67, a current ratio of 27.12 and a debt-to-equity ratio of 1.22.
Several institutional investors have recently made changes to their positions in the stock. Thompson Investment Management Inc. increased its position in shares of Accelerate Diagnostics by 10.6% during the 2nd quarter. Thompson Investment Management Inc. now owns 31,200 shares of the medical research company’s stock worth $696,000 after purchasing an additional 3,000 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in shares of Accelerate Diagnostics during the 2nd quarter worth about $210,000. Baird Financial Group Inc. increased its position in shares of Accelerate Diagnostics by 3.7% during the 2nd quarter. Baird Financial Group Inc. now owns 154,359 shares of the medical research company’s stock worth $3,442,000 after purchasing an additional 5,477 shares in the last quarter. Northern Trust Corp increased its position in shares of Accelerate Diagnostics by 2.5% during the 2nd quarter. Northern Trust Corp now owns 350,809 shares of the medical research company’s stock worth $7,823,000 after purchasing an additional 8,608 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in shares of Accelerate Diagnostics by 33.8% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 60,550 shares of the medical research company’s stock worth $1,350,000 after purchasing an additional 15,305 shares in the last quarter. Institutional investors and hedge funds own 45.41% of the company’s stock.
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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