Accelerate Diagnostics (NASDAQ:AXDX) Downgraded by ValuEngine

ValuEngine lowered shares of Accelerate Diagnostics (NASDAQ:AXDX) from a buy rating to a hold rating in a research report report published on Thursday, ValuEngine reports.

Several other research firms have also commented on AXDX. BidaskClub upgraded shares of Xilinx from a hold rating to a buy rating in a research report on Saturday, June 29th. BTIG Research reissued a hold rating on shares of Accelerate Diagnostics in a research note on Sunday, May 12th. Finally, Zacks Investment Research downgraded shares of ExlService from a hold rating to a sell rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $19.67.

AXDX stock opened at $19.05 on Thursday. Accelerate Diagnostics has a 52 week low of $10.23 and a 52 week high of $24.75. The company has a quick ratio of 24.03, a current ratio of 25.36 and a debt-to-equity ratio of 2.86. The company’s fifty day simple moving average is $20.60. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -11.76 and a beta of 2.84.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings data on Thursday, May 9th. The medical research company reported ($0.40) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.03. Accelerate Diagnostics had a negative net margin of 1,352.80% and a negative return on equity of 130.94%. The business had revenue of $1.75 million during the quarter, compared to analyst estimates of $2.12 million. Research analysts anticipate that Accelerate Diagnostics will post -1.6 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in AXDX. Rhumbline Advisers raised its holdings in shares of Accelerate Diagnostics by 45.3% during the fourth quarter. Rhumbline Advisers now owns 35,148 shares of the medical research company’s stock valued at $404,000 after purchasing an additional 10,957 shares during the last quarter. First Trust Advisors LP purchased a new stake in Accelerate Diagnostics during the fourth quarter valued at approximately $477,000. Stifel Financial Corp increased its holdings in Accelerate Diagnostics by 24.6% during the fourth quarter. Stifel Financial Corp now owns 556,763 shares of the medical research company’s stock valued at $6,365,000 after buying an additional 110,034 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Accelerate Diagnostics by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 307,860 shares of the medical research company’s stock worth $3,540,000 after purchasing an additional 9,188 shares during the period. Finally, RMB Capital Management LLC bought a new position in shares of Accelerate Diagnostics in the fourth quarter worth approximately $499,000. 50.58% of the stock is currently owned by institutional investors and hedge funds.

Accelerate Diagnostics Company Profile

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States, Europe, and the Middle East. It offers Accelerate Pheno system, an in vitro diagnostic platform for the identification and antibiotic susceptibility testing of pathogens associated with serious or health care-associated infections, including gram-positive and gram-negative organisms, as well as yeast.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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