Equities research analysts expect Organovo Holdings Inc (NASDAQ:ONVO) to announce $1.23 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Organovo’s earnings, with the lowest sales estimate coming in at $1.20 million and the highest estimate coming in at $1.26 million. Organovo posted sales of $1.15 million in the same quarter last year, which suggests a positive year over year growth rate of 7%. The company is scheduled to issue its next quarterly earnings report on Thursday, February 8th.
According to Zacks, analysts expect that Organovo will report full-year sales of $1.23 million for the current fiscal year, with estimates ranging from $4.95 million to $5.00 million. For the next financial year, analysts anticipate that the business will report sales of $8.30 million per share, with estimates ranging from $6.60 million to $10.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Organovo.
Organovo (NASDAQ:ONVO) last announced its quarterly earnings data on Thursday, November 9th. The medical research company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. The company had revenue of $1.36 million for the quarter, compared to the consensus estimate of $1.38 million. Organovo had a negative net margin of 923.89% and a negative return on equity of 65.63%. Organovo’s quarterly revenue was down 1.4% on a year-over-year basis.
Organovo (NASDAQ ONVO) opened at $1.38 on Friday. The company has a market cap of $147.55, a price-to-earnings ratio of -3.63 and a beta of 3.08. Organovo has a 52-week low of $1.32 and a 52-week high of $3.92.
Several hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC increased its holdings in shares of Organovo by 18.8% in the 2nd quarter. Voya Investment Management LLC now owns 52,032 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 8,225 shares in the last quarter. State of Wisconsin Investment Board purchased a new position in shares of Organovo in the 2nd quarter valued at about $196,000. The Manufacturers Life Insurance Company increased its holdings in shares of Organovo by 9.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 82,408 shares of the medical research company’s stock valued at $217,000 after purchasing an additional 7,098 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Organovo by 1.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 91,204 shares of the medical research company’s stock valued at $240,000 after purchasing an additional 890 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Organovo by 27.4% in the 2nd quarter. Alliancebernstein L.P. now owns 93,050 shares of the medical research company’s stock valued at $245,000 after purchasing an additional 20,000 shares in the last quarter. Institutional investors own 25.78% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This news story was originally published by American Banking News and is owned by of American Banking News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/06/organovo-holdings-inc-onvo-expected-to-post-quarterly-sales-of-1-23-million.html.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Organovo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Organovo and related companies with MarketBeat.com's FREE daily email newsletter.