Brokerages Expect InVitae Corp (NVTA) Will Post Earnings of -$0.47 Per Share

Wall Street brokerages expect InVitae Corp (NYSE:NVTA) to post earnings per share of ($0.47) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for InVitae’s earnings. The highest EPS estimate is ($0.44) and the lowest is ($0.53). InVitae reported earnings of ($0.66) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 28.8%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, May 8th.

According to Zacks, analysts expect that InVitae will report full year earnings of ($1.81) per share for the current year, with EPS estimates ranging from ($2.17) to ($1.56). For the next year, analysts expect that the company will post earnings of ($1.38) per share, with EPS estimates ranging from ($2.16) to ($0.81). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow InVitae.

InVitae (NYSE:NVTA) last announced its quarterly earnings data on Tuesday, February 19th. The medical research company reported ($0.40) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.02. The firm had revenue of $45.36 million during the quarter, compared to analyst estimates of $40.87 million. InVitae had a negative return on equity of 88.93% and a negative net margin of 87.58%.

NVTA has been the subject of several recent research reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $20.00 target price on shares of InVitae in a report on Wednesday, February 20th. They noted that the move was a valuation call. Benchmark upped their target price on InVitae from $17.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, February 20th. Chardan Capital initiated coverage on InVitae in a report on Monday, March 4th. They set a “buy” rating and a $29.00 target price for the company. Oppenheimer initiated coverage on InVitae in a report on Wednesday, December 19th. They set an “outperform” rating and a $20.00 target price for the company. Finally, CIBC initiated coverage on InVitae in a report on Wednesday, December 19th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. InVitae currently has a consensus rating of “Buy” and a consensus target price of $22.80.

In related news, Chairman Randal W. Scott sold 30,000 shares of the stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $19.10, for a total value of $573,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shelly D. Guyer sold 4,000 shares of the stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $20.00, for a total value of $80,000.00. The disclosure for this sale can be found here. Insiders have sold 40,650 shares of company stock valued at $787,333 over the last ninety days. Corporate insiders own 8.70% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in InVitae by 45.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,780 shares of the medical research company’s stock worth $53,000 after buying an additional 1,486 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in InVitae in the 4th quarter worth approximately $58,000. BlueMountain Capital Management LLC bought a new position in InVitae in the 3rd quarter worth approximately $110,000. Great West Life Assurance Co. Can grew its holdings in InVitae by 173.1% in the 4th quarter. Great West Life Assurance Co. Can now owns 7,920 shares of the medical research company’s stock worth $84,000 after buying an additional 5,020 shares in the last quarter. Finally, Focused Wealth Management Inc bought a new position in InVitae in the 4th quarter worth approximately $88,000. 74.69% of the stock is owned by institutional investors and hedge funds.

Shares of InVitae stock opened at $24.74 on Wednesday. The stock has a market capitalization of $1.92 billion, a P/E ratio of -12.75 and a beta of 2.25. InVitae has a fifty-two week low of $5.31 and a fifty-two week high of $26.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.56 and a quick ratio of 4.56.

InVitae Company Profile

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. The company's tests include multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; proactive health and wellness screening; and preimplantation embryo testing and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.

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Earnings History and Estimates for InVitae (NYSE:NVTA)

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