Baird Financial Group Inc. Buys 5,477 Shares of Accelerate Diagnostics Inc (AXDX)

Baird Financial Group Inc. lifted its stake in Accelerate Diagnostics Inc (NASDAQ:AXDX) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 154,359 shares of the medical research company’s stock after acquiring an additional 5,477 shares during the period. Baird Financial Group Inc. owned 0.29% of Accelerate Diagnostics worth $3,442,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. raised its position in shares of Accelerate Diagnostics by 10.6% in the 2nd quarter. Thompson Investment Management Inc. now owns 31,200 shares of the medical research company’s stock worth $696,000 after acquiring an additional 3,000 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Accelerate Diagnostics by 3.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 132,777 shares of the medical research company’s stock worth $3,034,000 after acquiring an additional 3,963 shares in the last quarter. Cornerstone Wealth Management LLC bought a new position in shares of Accelerate Diagnostics in the 2nd quarter worth $210,000. Lee Financial Co bought a new position in shares of Accelerate Diagnostics in the 1st quarter worth $128,000. Finally, Northern Trust Corp raised its position in shares of Accelerate Diagnostics by 2.8% in the 1st quarter. Northern Trust Corp now owns 342,201 shares of the medical research company’s stock worth $7,819,000 after acquiring an additional 9,278 shares in the last quarter. 45.47% of the stock is owned by hedge funds and other institutional investors.

Shares of AXDX stock opened at $20.80 on Friday. Accelerate Diagnostics Inc has a 1-year low of $16.75 and a 1-year high of $30.35. The company has a current ratio of 27.12, a quick ratio of 25.67 and a debt-to-equity ratio of 1.22. The firm has a market cap of $1.17 billion, a P/E ratio of -18.36 and a beta of 2.20.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its earnings results on Monday, August 6th. The medical research company reported ($0.43) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.06). Accelerate Diagnostics had a negative return on equity of 67.75% and a negative net margin of 1,405.87%. The business had revenue of $1.69 million for the quarter, compared to analysts’ expectations of $2.17 million. equities research analysts forecast that Accelerate Diagnostics Inc will post -1.66 earnings per share for the current fiscal year.

Several research analysts have recently commented on AXDX shares. Piper Jaffray Companies reissued a “buy” rating and issued a $24.00 price target on shares of Accelerate Diagnostics in a research report on Tuesday, August 7th. Zacks Investment Research lowered Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Craig Hallum started coverage on Accelerate Diagnostics in a research report on Thursday, May 24th. They issued a “hold” rating and a $25.00 price target for the company. BidaskClub lowered Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research report on Friday, July 6th. Finally, ValuEngine raised Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research report on Monday, June 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $24.50.

Accelerate Diagnostics Profile

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States. 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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Institutional Ownership by Quarter for Accelerate Diagnostics (NASDAQ:AXDX)

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