-$0.75 EPS Expected for Invitae Co. (NYSE:NVTA) This Quarter

Equities research analysts forecast that Invitae Co. (NYSE:NVTAGet Rating) will post ($0.75) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Invitae’s earnings. The highest EPS estimate is ($0.67) and the lowest is ($0.93). Invitae reported earnings of ($0.85) per share in the same quarter last year, which would indicate a positive year over year growth rate of 11.8%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Invitae will report full-year earnings of ($2.93) per share for the current year, with EPS estimates ranging from ($3.39) to ($2.55). For the next year, analysts expect that the company will post earnings of ($2.56) per share, with EPS estimates ranging from ($3.17) to ($1.59). Zacks’ EPS averages are an average based on a survey of research firms that cover Invitae.

Invitae (NYSE:NVTAGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The medical research company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.02). Invitae had a negative return on equity of 24.48% and a negative net margin of 148.62%. The company had revenue of $123.70 million for the quarter, compared to the consensus estimate of $129.31 million. During the same quarter in the prior year, the company earned ($0.63) EPS. The company’s revenue for the quarter was up 19.4% on a year-over-year basis.

Several research firms have weighed in on NVTA. Piper Sandler began coverage on Invitae in a research report on Thursday, June 2nd. They set an “underweight” rating on the stock. The Goldman Sachs Group lowered their price objective on Invitae from $14.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 19th. SVB Leerink reduced their target price on Invitae from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, February 25th. Morgan Stanley reduced their target price on Invitae from $37.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 15th. Finally, Raymond James reduced their target price on Invitae from $10.50 to $8.50 in a report on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.07.

NVTA opened at $2.95 on Thursday. Invitae has a 1-year low of $2.83 and a 1-year high of $35.51. The stock’s fifty day simple moving average is $5.11 and its 200 day simple moving average is $9.70. The company has a current ratio of 6.14, a quick ratio of 5.88 and a debt-to-equity ratio of 0.56. The stock has a market cap of $676.41 million, a PE ratio of -0.91 and a beta of 1.92.

In other Invitae news, insider Robert L. Nussbaum sold 19,588 shares of the stock in a transaction on Monday, March 14th. The stock was sold at an average price of $6.69, for a total transaction of $131,043.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Yafei Wen sold 17,042 shares of the firm’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $3.81, for a total value of $64,930.02. Following the completion of the transaction, the chief financial officer now owns 344,374 shares in the company, valued at $1,312,064.94. The disclosure for this sale can be found here. Insiders sold a total of 154,444 shares of company stock valued at $802,185 over the last quarter. Company insiders own 1.90% of the company’s stock.

Several large investors have recently made changes to their positions in NVTA. AdvisorNet Financial Inc boosted its holdings in shares of Invitae by 47.4% in the fourth quarter. AdvisorNet Financial Inc now owns 3,000 shares of the medical research company’s stock valued at $46,000 after purchasing an additional 965 shares during the period. Phocas Financial Corp. raised its stake in Invitae by 1.0% in the third quarter. Phocas Financial Corp. now owns 102,774 shares of the medical research company’s stock worth $2,922,000 after buying an additional 1,059 shares in the last quarter. Spearhead Capital Advisors LLC raised its stake in Invitae by 11.3% in the fourth quarter. Spearhead Capital Advisors LLC now owns 12,022 shares of the medical research company’s stock worth $184,000 after buying an additional 1,221 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Invitae by 4.0% in the third quarter. Dimensional Fund Advisors LP now owns 34,748 shares of the medical research company’s stock worth $988,000 after buying an additional 1,340 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in Invitae by 30.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,530 shares of the medical research company’s stock worth $100,000 after buying an additional 1,515 shares in the last quarter. Institutional investors and hedge funds own 91.87% of the company’s stock.

Invitae Company Profile (Get Rating)

Invitae Corporation, a medical genetics company, integrates genetic information into mainstream medicine to improve healthcare of people in the United States, Canada, and internationally. The company offers genetic tests in various clinical areas, including hereditary cancer, cardiology, neurology, pediatrics, oncology, metabolic conditions, and rare diseases; digital health solutions; and health data services.

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Earnings History and Estimates for Invitae (NYSE:NVTA)

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