Brokerages Anticipate Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) Will Post Quarterly Sales of $234.91 Million

Brokerages expect Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVIGet Rating) to announce $234.91 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Maravai LifeSciences’ earnings, with the lowest sales estimate coming in at $214.00 million and the highest estimate coming in at $245.70 million. Maravai LifeSciences reported sales of $217.78 million in the same quarter last year, which indicates a positive year over year growth rate of 7.9%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Maravai LifeSciences will report full-year sales of $941.44 million for the current fiscal year, with estimates ranging from $920.30 million to $954.90 million. For the next financial year, analysts anticipate that the company will post sales of $736.88 million, with estimates ranging from $624.60 million to $885.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Maravai LifeSciences.

Maravai LifeSciences (NASDAQ:MRVIGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.11. Maravai LifeSciences had a return on equity of 96.51% and a net margin of 25.25%. The company had revenue of $244.30 million during the quarter, compared to analyst estimates of $232.29 million. During the same period in the prior year, the company earned $0.26 earnings per share. The firm’s revenue was up 64.8% on a year-over-year basis.

A number of brokerages have issued reports on MRVI. Robert W. Baird decreased their price objective on Maravai LifeSciences from $48.00 to $40.00 in a research report on Friday, May 6th. Zacks Investment Research downgraded Maravai LifeSciences from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Finally, Morgan Stanley decreased their price objective on Maravai LifeSciences from $59.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, February 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Maravai LifeSciences has a consensus rating of “Buy” and an average price target of $48.40.

Several hedge funds and other institutional investors have recently modified their holdings of MRVI. Zions Bancorporation N.A. purchased a new stake in shares of Maravai LifeSciences in the first quarter worth approximately $28,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Maravai LifeSciences in the first quarter worth approximately $38,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Maravai LifeSciences in the fourth quarter worth approximately $41,000. Spire Wealth Management purchased a new stake in shares of Maravai LifeSciences in the fourth quarter worth approximately $71,000. Finally, American International Group Inc. raised its holdings in shares of Maravai LifeSciences by 25.0% in the third quarter. American International Group Inc. now owns 1,994 shares of the company’s stock worth $98,000 after buying an additional 399 shares during the period. Hedge funds and other institutional investors own 50.18% of the company’s stock.

Shares of Maravai LifeSciences stock opened at $29.08 on Friday. Maravai LifeSciences has a 12 month low of $23.16 and a 12 month high of $63.55. The company has a current ratio of 7.14, a quick ratio of 6.55 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average of $33.04 and a 200 day moving average of $34.94. The firm has a market cap of $7.42 billion, a PE ratio of 18.29 and a beta of 0.76.

About Maravai LifeSciences (Get Rating)

Maravai LifeSciences Holdings, Inc, a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases in the United States and internationally. The company's products address the key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.

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