Brokerages Expect InVitae Corp (NVTA) to Announce -$0.49 EPS

Equities analysts expect that InVitae Corp (NYSE:NVTA) will report earnings of ($0.49) per share for the current quarter, Zacks reports. Four analysts have made estimates for InVitae’s earnings, with estimates ranging from ($0.53) to ($0.45). InVitae reported earnings of ($0.66) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 25.8%. The firm is expected to report its next quarterly earnings report on Wednesday, May 8th.

On average, analysts expect that InVitae will report full year earnings of ($1.81) per share for the current fiscal year, with EPS estimates ranging from ($2.17) to ($1.35). For the next fiscal year, analysts forecast that the business will post earnings of ($1.22) per share, with EPS estimates ranging from ($2.16) to ($0.40). Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that cover InVitae.

InVitae (NYSE:NVTA) last issued its quarterly earnings data on Tuesday, February 19th. The medical research company reported ($0.40) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.02. The firm had revenue of $45.36 million during the quarter, compared to the consensus estimate of $40.87 million. InVitae had a negative net margin of 87.58% and a negative return on equity of 88.93%.

NVTA has been the subject of several research reports. Oppenheimer began coverage on shares of InVitae in a research report on Wednesday, December 19th. They set an “outperform” rating and a $20.00 price objective for the company. CIBC began coverage on shares of InVitae in a research report on Wednesday, December 19th. They issued an “outperform” rating for the company. Finally, Zacks Investment Research downgraded shares of InVitae from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $20.80.

NVTA stock traded up $0.45 during mid-day trading on Monday, hitting $23.42. 1,472,537 shares of the company were exchanged, compared to its average volume of 2,349,326. The company has a quick ratio of 4.56, a current ratio of 4.56 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.76 billion, a PE ratio of -12.07 and a beta of 2.23. InVitae has a 1-year low of $4.52 and a 1-year high of $25.76.

In other news, Chairman Randal W. Scott sold 30,000 shares of InVitae stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $19.10, for a total value of $573,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shelly D. Guyer sold 4,000 shares of InVitae stock in a transaction that occurred on Wednesday, January 16th. The shares were sold at an average price of $14.49, for a total transaction of $57,960.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,872 shares of company stock valued at $932,043. 8.70% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in InVitae by 6.4% in the fourth quarter. BlackRock Inc. now owns 5,351,727 shares of the medical research company’s stock valued at $59,191,000 after acquiring an additional 321,241 shares during the last quarter. Vanguard Group Inc. increased its stake in InVitae by 11.3% in the third quarter. Vanguard Group Inc. now owns 2,885,650 shares of the medical research company’s stock valued at $48,278,000 after acquiring an additional 292,125 shares during the last quarter. Vanguard Group Inc increased its stake in InVitae by 11.3% in the third quarter. Vanguard Group Inc now owns 2,885,650 shares of the medical research company’s stock valued at $48,278,000 after acquiring an additional 292,125 shares during the last quarter. Northern Trust Corp increased its stake in InVitae by 0.9% in the fourth quarter. Northern Trust Corp now owns 794,494 shares of the medical research company’s stock valued at $8,787,000 after acquiring an additional 7,114 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in InVitae by 13.6% in the fourth quarter. Geode Capital Management LLC now owns 694,019 shares of the medical research company’s stock valued at $7,675,000 after acquiring an additional 83,003 shares during the last quarter. Institutional investors own 74.71% of the company’s stock.

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. The company's tests include multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; proactive health and wellness screening; and preimplantation embryo testing 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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