$28.05 Million in Sales Expected for NanoString Technologies Inc (NASDAQ:NSTG) This Quarter

Equities research analysts predict that NanoString Technologies Inc (NASDAQ:NSTG) will report $28.05 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for NanoString Technologies’ earnings, with the highest sales estimate coming in at $28.17 million and the lowest estimate coming in at $27.94 million. NanoString Technologies posted sales of $28.62 million in the same quarter last year, which suggests a negative year over year growth rate of 2%. The business is scheduled to announce its next quarterly earnings results on Thursday, November 14th.

According to Zacks, analysts expect that NanoString Technologies will report full year sales of $121.04 million for the current year, with estimates ranging from $120.95 million to $121.12 million. For the next fiscal year, analysts expect that the firm will report sales of $133.04 million, with estimates ranging from $131.72 million to $134.36 million. Zacks’ sales calculations are an average based on a survey of research firms that cover NanoString Technologies.

NanoString Technologies (NASDAQ:NSTG) last posted its quarterly earnings results on Wednesday, July 31st. The biotechnology company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.02). NanoString Technologies had a negative return on equity of 118.03% and a negative net margin of 68.16%. The firm had revenue of $30.35 million for the quarter, compared to analyst estimates of $29.00 million.

Several research analysts have commented on NSTG shares. BidaskClub cut shares of NanoString Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Zacks Investment Research cut shares of NanoString Technologies from a “hold” rating to a “sell” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $24.60.

In other news, Director Kirk Malloy sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $25.05, for a total transaction of $25,050.00. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at approximately $25,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David W. Ghesquiere sold 6,954 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $29.41, for a total transaction of $204,517.14. Following the sale, the senior vice president now owns 44,868 shares of the company’s stock, valued at approximately $1,319,567.88. The disclosure for this sale can be found here. Insiders have sold a total of 147,912 shares of company stock valued at $4,045,899 in the last 90 days. Insiders own 5.10% of the company’s stock.

Several large investors have recently modified their holdings of the company. Conestoga Capital Advisors LLC lifted its position in shares of NanoString Technologies by 4.1% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 16,320 shares of the biotechnology company’s stock worth $495,000 after buying an additional 640 shares during the last quarter. Rhumbline Advisers lifted its position in shares of NanoString Technologies by 2.4% during the 1st quarter. Rhumbline Advisers now owns 33,001 shares of the biotechnology company’s stock worth $790,000 after buying an additional 781 shares during the last quarter. James Investment Research Inc. purchased a new stake in shares of NanoString Technologies during the 2nd quarter worth approximately $25,000. Strs Ohio raised its position in NanoString Technologies by 7.1% in the 2nd quarter. Strs Ohio now owns 28,500 shares of the biotechnology company’s stock valued at $864,000 after purchasing an additional 1,900 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in NanoString Technologies by 28.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 9,079 shares of the biotechnology company’s stock valued at $250,000 after purchasing an additional 1,989 shares during the last quarter.

NASDAQ NSTG traded up $0.06 on Thursday, hitting $26.58. 328,500 shares of the stock were exchanged, compared to its average volume of 523,065. The company has a quick ratio of 4.76, a current ratio of 5.21 and a debt-to-equity ratio of 1.27. NanoString Technologies has a fifty-two week low of $13.26 and a fifty-two week high of $34.78. The company has a market cap of $886.10 million, a PE ratio of -9.56 and a beta of 1.08. The company has a 50-day moving average price of $29.20 and a 200-day moving average price of $26.58.

NanoString Technologies Company Profile

NanoString Technologies, Inc provides life science tools for translational research and molecular diagnostic products worldwide. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system. It provides nCounter MAX and FLEX systems that include Prep Station, an automated liquid handling component that processes and prepares samples for data collection; and nCounter Digital Analyzer, which collects data from samples by taking images of the immobilized fluorescent reporters in the sample cartridge and processing the data into output files.

See Also: Equal Weight Rating

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