InVitae Corp (NVTA) Expected to Announce Earnings of -$0.47 Per Share

Equities research analysts expect InVitae Corp (NYSE:NVTA) to announce ($0.47) earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for InVitae’s earnings, with estimates ranging from ($0.52) to ($0.43). InVitae reported earnings of ($0.57) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 17.5%. The firm is scheduled to issue its next quarterly earnings report on Monday, November 5th.

According to Zacks, analysts expect that InVitae will report full-year earnings of ($2.02) per share for the current fiscal year, with EPS estimates ranging from ($2.12) to ($1.97). For the next financial year, analysts anticipate that the business will report earnings of ($1.46) per share, with EPS estimates ranging from ($1.68) to ($1.16). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for InVitae.

InVitae (NYSE:NVTA) last posted its quarterly earnings data on Tuesday, August 7th. The medical research company reported ($0.47) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.07. InVitae had a negative net margin of 125.03% and a negative return on equity of 111.27%. The company had revenue of $37.31 million for the quarter, compared to analyst estimates of $30.70 million.

A number of research firms have recently commented on NVTA. ValuEngine raised shares of InVitae from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 29th. Zacks Investment Research raised shares of InVitae from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, August 14th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $11.00.

Shares of NYSE:NVTA traded up $0.63 during trading on Friday, reaching $13.90. The stock had a trading volume of 579,552 shares, compared to its average volume of 1,045,445. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.75 and a current ratio of 3.75. InVitae has a 52 week low of $4.35 and a 52 week high of $18.38. The firm has a market cap of $1.16 billion, a P/E ratio of -5.25 and a beta of 1.78.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can bought a new position in InVitae during the second quarter worth $155,000. Metropolitan Life Insurance Co. NY boosted its stake in InVitae by 67.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 22,273 shares of the medical research company’s stock worth $164,000 after acquiring an additional 8,979 shares in the last quarter. Voya Investment Management LLC boosted its stake in InVitae by 44.2% during the second quarter. Voya Investment Management LLC now owns 24,424 shares of the medical research company’s stock worth $180,000 after acquiring an additional 7,488 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in InVitae by 97.2% during the second quarter. MetLife Investment Advisors LLC now owns 31,538 shares of the medical research company’s stock worth $232,000 after acquiring an additional 15,543 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in InVitae during the first quarter worth $247,000. 73.64% of the stock is currently owned by institutional investors and hedge funds.

About InVitae

Invitae Corporation, a genetic information company, processes DNA-containing samples, analyzes information related to patient-specific genetic variation, and generates test reports for clinicians and their patients in the United States, Canada, and internationally. The company's tests include multiple genes associated with hereditary cancer, neurological disorders, cardiovascular disorders, pediatric disorders, metabolic disorders, and other hereditary conditions; proactive health and wellness screening; and preimplantation embryo testing and carrier screening for inherited disorders, prenatal diagnosis, miscarriage analysis, and pediatric developmental disorders.

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Earnings History and Estimates for InVitae (NYSE:NVTA)

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