Other equities analysts have also recently issued reports about the company. BidaskClub upgraded Accelerate Diagnostics from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Zacks Investment Research downgraded shares of Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Piper Jaffray Companies lowered their price objective on shares of Accelerate Diagnostics from $22.00 to $19.00 and set a “positive” rating for the company in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $18.67.
Shares of NASDAQ:AXDX traded up $1.29 during midday trading on Wednesday, reaching $20.82. The company’s stock had a trading volume of 468,015 shares, compared to its average volume of 251,882. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -12.85 and a beta of 2.72. The company has a debt-to-equity ratio of 4.81, a quick ratio of 18.89 and a current ratio of 19.99. The firm has a 50 day moving average price of $18.34 and a two-hundred day moving average price of $19.58. Accelerate Diagnostics has a fifty-two week low of $10.23 and a fifty-two week high of $24.00.
Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results on Thursday, August 8th. The medical research company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.02. Accelerate Diagnostics had a negative return on equity of 170.47% and a negative net margin of 1,293.91%. The business had revenue of $1.81 million during the quarter, compared to analysts’ expectations of $2.71 million. As a group, research analysts anticipate that Accelerate Diagnostics will post -1.58 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. River & Mercantile Asset Management LLP bought a new position in shares of Accelerate Diagnostics during the 2nd quarter worth about $1,539,000. Griffin Asset Management Inc. increased its position in Accelerate Diagnostics by 13.4% in the 2nd quarter. Griffin Asset Management Inc. now owns 550,046 shares of the medical research company’s stock valued at $12,585,000 after buying an additional 65,175 shares in the last quarter. Nuveen Asset Management LLC increased its position in Accelerate Diagnostics by 12.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 448,289 shares of the medical research company’s stock valued at $10,257,000 after buying an additional 51,304 shares in the last quarter. Bank of America Corp DE raised its stake in Accelerate Diagnostics by 62.1% during the 2nd quarter. Bank of America Corp DE now owns 66,716 shares of the medical research company’s stock worth $1,527,000 after buying an additional 25,548 shares during the period. Finally, Vanguard Group Inc. raised its stake in Accelerate Diagnostics by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,392,496 shares of the medical research company’s stock worth $31,861,000 after buying an additional 5,041 shares during the period. Hedge funds and other institutional investors own 54.52% of the company’s stock.
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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