$50.49 Million in Sales Expected for InVitae Corp (NYSE:NVTA) This Quarter

Equities research analysts predict that InVitae Corp (NYSE:NVTA) will report sales of $50.49 million for the current quarter, according to Zacks. Four analysts have made estimates for InVitae’s earnings, with the highest sales estimate coming in at $52.05 million and the lowest estimate coming in at $48.20 million. InVitae reported sales of $37.31 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 35.3%. The firm is expected to announce its next earnings report on Tuesday, August 6th.

On average, analysts expect that InVitae will report full year sales of $222.15 million for the current year, with estimates ranging from $219.85 million to $224.30 million. For the next financial year, analysts expect that the business will post sales of $339.50 million, with estimates ranging from $313.93 million to $379.80 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover InVitae.

InVitae (NYSE:NVTA) last posted its earnings results on Tuesday, May 7th. The medical research company reported ($0.47) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.01). InVitae had a negative return on equity of 65.76% and a negative net margin of 81.52%. The firm had revenue of $40.55 million during the quarter, compared to the consensus estimate of $47.17 million. During the same period in the previous year, the company posted ($0.66) EPS. The firm’s revenue for the quarter was up 46.5% compared to the same quarter last year.

Several equities research analysts have recently weighed in on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $30.00 target price on shares of InVitae in a report on Tuesday, June 11th. Zacks Investment Research raised shares of InVitae from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Wednesday, April 24th. Finally, Oppenheimer upped their target price on shares of InVitae from $21.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $25.20.

In other InVitae news, COO E Lee Bendekgey sold 4,657 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $18.78, for a total transaction of $87,458.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Katherine Stueland sold 1,000 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $25.23, for a total transaction of $25,230.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,440 shares of company stock worth $1,641,082. Insiders own 5.70% of the company’s stock.

A number of large investors have recently modified their holdings of the business. California Public Employees Retirement System grew its holdings in InVitae by 0.7% during the 1st quarter. California Public Employees Retirement System now owns 77,355 shares of the medical research company’s stock worth $1,812,000 after acquiring an additional 518 shares during the last quarter. First Republic Investment Management Inc. grew its holdings in InVitae by 7.8% during the 1st quarter. First Republic Investment Management Inc. now owns 11,228 shares of the medical research company’s stock worth $263,000 after acquiring an additional 815 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in InVitae during the 1st quarter valued at about $26,000. Certified Advisory Corp acquired a new position in InVitae during the 1st quarter valued at about $30,000. Finally, Signaturefd LLC acquired a new position in InVitae during the 1st quarter valued at about $47,000. 78.93% of the stock is currently owned by hedge funds and other institutional investors.

NVTA opened at $20.66 on Wednesday. The stock has a 50-day moving average price of $19.05. The company has a current ratio of 7.73, a quick ratio of 7.73 and a debt-to-equity ratio of 0.37. InVitae has a twelve month low of $7.08 and a twelve month high of $26.77. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -10.65 and a beta of 2.35.

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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Earnings History and Estimates for InVitae (NYSE:NVTA)

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