Baird Financial Group Inc. raised its stake in Accelerate Diagnostics Inc (NASDAQ:AXDX) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 161,737 shares of the medical research company’s stock after acquiring an additional 7,378 shares during the period. Baird Financial Group Inc. owned approximately 0.30% of Accelerate Diagnostics worth $3,549,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Credit Suisse AG grew its stake in shares of Accelerate Diagnostics by 5.0% in the third quarter. Credit Suisse AG now owns 3,653,892 shares of the medical research company’s stock worth $83,856,000 after acquiring an additional 173,289 shares during the last quarter. BlackRock Inc. grew its stake in shares of Accelerate Diagnostics by 2.0% in the third quarter. BlackRock Inc. now owns 1,785,849 shares of the medical research company’s stock worth $40,983,000 after acquiring an additional 34,958 shares during the last quarter. Chicago Capital LLC grew its stake in shares of Accelerate Diagnostics by 17.1% in the third quarter. Chicago Capital LLC now owns 630,053 shares of the medical research company’s stock worth $14,460,000 after acquiring an additional 91,862 shares during the last quarter. FMR LLC grew its stake in shares of Accelerate Diagnostics by 21.3% in the third quarter. FMR LLC now owns 590,350 shares of the medical research company’s stock worth $13,549,000 after acquiring an additional 103,850 shares during the last quarter. Finally, AXA grew its stake in shares of Accelerate Diagnostics by 6.1% in the third quarter. AXA now owns 403,702 shares of the medical research company’s stock worth $9,265,000 after acquiring an additional 23,224 shares during the last quarter. 48.52% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on AXDX shares. BidaskClub cut Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Friday, October 5th. JPMorgan Chase & Co. cut Accelerate Diagnostics from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $25.00 to $16.00 in a research note on Wednesday, November 7th. Zacks Investment Research raised Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, ValuEngine cut Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Accelerate Diagnostics presently has an average rating of “Hold” and a consensus price target of $20.50.
Shares of NASDAQ:AXDX opened at $14.15 on Friday. The firm has a market cap of $776.67 million, a PE ratio of -12.20 and a beta of 2.48. The company has a debt-to-equity ratio of 1.52, a quick ratio of 33.54 and a current ratio of 35.26. Accelerate Diagnostics Inc has a 1 year low of $12.70 and a 1 year high of $30.35.
Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings results on Tuesday, November 6th. The medical research company reported ($0.41) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.41). The firm had revenue of $1.36 million for the quarter, compared to the consensus estimate of $2.89 million. Accelerate Diagnostics had a negative return on equity of 81.76% and a negative net margin of 1,365.75%. On average, research analysts predict that Accelerate Diagnostics Inc will post -1.61 earnings per share for the current fiscal year.
In other Accelerate Diagnostics news, Director John Patience purchased 10,000 shares of the stock in a transaction dated Thursday, November 8th. The shares were purchased at an average cost of $14.96 per share, with a total value of $149,600.00. Following the completion of the acquisition, the director now directly owns 44,670 shares in the company, valued at approximately $668,263.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have bought 21,600 shares of company stock worth $308,301. Corporate insiders own 49.30% of the company’s stock.
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About Accelerate Diagnostics
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.
Further Reading: Leveraged Buyout (LBO) Explained
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