InVitae Corp (NYSE:NVTA) Expected to Post Earnings of -$0.68 Per Share

Brokerages expect InVitae Corp (NYSE:NVTA) to post ($0.68) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for InVitae’s earnings. The lowest EPS estimate is ($1.11) and the highest is ($0.47). InVitae reported earnings of ($0.40) per share in the same quarter last year, which would suggest a negative year over year growth rate of 70%. The business is scheduled to announce its next earnings results on Tuesday, February 18th.

On average, analysts expect that InVitae will report full-year earnings of ($2.37) per share for the current fiscal year, with EPS estimates ranging from ($3.00) to ($1.90). For the next fiscal year, analysts expect that the company will report earnings of ($2.23) per share, with EPS estimates ranging from ($3.15) to ($1.73). Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for InVitae.

InVitae (NYSE:NVTA) last released its earnings results on Wednesday, November 6th. The medical research company reported ($0.69) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by ($0.17). The company had revenue of $56.51 million during the quarter, compared to the consensus estimate of $55.00 million. InVitae had a negative return on equity of 58.90% and a negative net margin of 99.49%.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of InVitae from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. ValuEngine downgraded shares of InVitae from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $27.83.

In other news, insider Katherine Stueland sold 3,788 shares of InVitae stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.46, for a total value of $66,138.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 5,788 shares of company stock valued at $101,358 over the last ninety days. Company insiders own 5.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC acquired a new position in shares of InVitae in the 2nd quarter valued at about $23,901,000. Metropolitan Life Insurance Co NY boosted its holdings in shares of InVitae by 27.7% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 28,437 shares of the medical research company’s stock valued at $548,000 after buying an additional 6,164 shares during the period. Farallon Capital Management LLC boosted its holdings in shares of InVitae by 200.0% in the 2nd quarter. Farallon Capital Management LLC now owns 900,000 shares of the medical research company’s stock valued at $21,150,000 after buying an additional 600,000 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of InVitae by 18.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 516,212 shares of the medical research company’s stock valued at $12,131,000 after buying an additional 80,546 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of InVitae by 35.8% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,223,586 shares of the medical research company’s stock valued at $139,199,000 after buying an additional 1,905,746 shares during the period. 93.46% of the stock is owned by institutional investors and hedge funds.

Shares of NVTA remained flat at $$18.75 during midday trading on Wednesday. 1,193,559 shares of the stock traded hands, compared to its average volume of 2,232,038. The firm has a 50 day moving average price of $17.21 and a 200 day moving average price of $20.26. The stock has a market cap of $1.89 billion, a PE ratio of -8.41 and a beta of 2.45. InVitae has a one year low of $13.00 and a one year high of $28.75. The company has a current ratio of 7.38, a quick ratio of 7.38 and a debt-to-equity ratio of 0.77.

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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