Brokerages Expect Quanterix Corp (NASDAQ:QTRX) Will Post Quarterly Sales of $11.40 Million

Equities analysts predict that Quanterix Corp (NASDAQ:QTRX) will announce sales of $11.40 million for the current quarter, Zacks reports. Three analysts have issued estimates for Quanterix’s earnings, with estimates ranging from $10.24 million to $12.40 million. Quanterix reported sales of $8.64 million during the same quarter last year, which indicates a positive year over year growth rate of 31.9%. The company is scheduled to report its next earnings results before the market opens on Tuesday, August 6th.

On average, analysts expect that Quanterix will report full year sales of $51.22 million for the current financial year, with estimates ranging from $50.31 million to $52.98 million. For the next fiscal year, analysts anticipate that the firm will post sales of $71.59 million, with estimates ranging from $68.73 million to $74.49 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Quanterix.

Quanterix (NASDAQ:QTRX) last released its earnings results on Friday, May 10th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.02). Quanterix had a negative return on equity of 76.62% and a negative net margin of 79.48%. The company had revenue of $12.34 million during the quarter, compared to analysts’ expectations of $11.33 million.

Several research firms have recently commented on QTRX. Canaccord Genuity reissued a “buy” rating and issued a $38.00 target price on shares of Quanterix in a report on Wednesday, July 24th. Zacks Investment Research downgraded shares of Quanterix from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th.

In related news, Chairman E Kevin Hrusovsky sold 3,145 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $34.64, for a total value of $108,942.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP David C. Duffy sold 1,277 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $20.78, for a total transaction of $26,536.06. The disclosure for this sale can be found here. Insiders sold 15,727 shares of company stock worth $458,958 in the last three months. Insiders own 30.80% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in QTRX. BlackRock Inc. increased its position in Quanterix by 61.2% in the fourth quarter. BlackRock Inc. now owns 660,292 shares of the company’s stock worth $12,089,000 after purchasing an additional 250,571 shares during the last quarter. EAM Global Investors LLC bought a new stake in Quanterix in the first quarter worth $1,349,000. Carnegie Capital Asset Management LLC bought a new stake in Quanterix in the second quarter worth $845,000. Squarepoint Ops LLC bought a new stake in Quanterix in the fourth quarter worth $407,000. Finally, Spark Investment Management LLC bought a new stake in Quanterix in the first quarter worth $519,000. Institutional investors own 46.04% of the company’s stock.

Shares of QTRX stock traded down $0.74 during mid-day trading on Friday, hitting $31.05. The company had a trading volume of 131,926 shares, compared to its average volume of 110,779. Quanterix has a 52-week low of $13.00 and a 52-week high of $36.15. The company has a 50 day simple moving average of $32.26. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.10 and a quick ratio of 2.64. The stock has a market capitalization of $771.29 million, a P/E ratio of -21.71 and a beta of 1.25.

About Quanterix

Quanterix Corporation, a life sciences company, develops and markets ultra-sensitive digital immunoassay platform that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Simoa HD-1 instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids.

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Earnings History and Estimates for Quanterix (NASDAQ:QTRX)

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