Accelerate Diagnostics, Inc. (NASDAQ:AXDX) posted its quarterly earnings data on Thursday. The medical research company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by $0.01, Morningstar.com reports. The company had revenue of $0.70 million during the quarter, compared to the consensus estimate of $1.40 million. Accelerate Diagnostics had a negative return on equity of 76.35% and a negative net margin of 11,158.43%.

Shares of Accelerate Diagnostics (NASDAQ AXDX) traded down 5.09% on Friday, reaching $25.15. 1,229,900 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $27.87 and a 200 day moving average price of $25.63. The firm’s market cap is $1.31 billion. Accelerate Diagnostics has a one year low of $19.20 and a one year high of $30.45.

COPYRIGHT VIOLATION WARNING: “Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another domain, it was copied illegally and reposted in violation of US and international copyright laws. The correct version of this report can be accessed at https://www.thecerbatgem.com/2017/08/04/accelerate-diagnostics-inc-nasdaqaxdx-releases-quarterly-earnings-results-misses-estimates-by-0-01-eps.html.

In other news, insider Steven Reichling sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $28.90, for a total transaction of $867,000.00. Following the sale, the insider now directly owns 30,700 shares of the company’s stock, valued at approximately $887,230. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 51.40% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of AXDX. Legal & General Group Plc raised its position in Accelerate Diagnostics by 0.3% in the first quarter. Legal & General Group Plc now owns 5,123 shares of the medical research company’s stock valued at $123,000 after buying an additional 15 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp raised its position in Accelerate Diagnostics by 0.3% in the second quarter. Obermeyer Wood Investment Counsel Lllp now owns 213,367 shares of the medical research company’s stock valued at $5,836,000 after buying an additional 660 shares during the last quarter. SG Americas Securities LLC raised its position in Accelerate Diagnostics by 16.8% in the first quarter. SG Americas Securities LLC now owns 5,885 shares of the medical research company’s stock valued at $142,000 after buying an additional 846 shares during the last quarter. American International Group Inc. raised its position in Accelerate Diagnostics by 7.1% in the first quarter. American International Group Inc. now owns 14,187 shares of the medical research company’s stock valued at $343,000 after buying an additional 939 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in Accelerate Diagnostics by 2.9% in the first quarter. Teachers Advisors LLC now owns 39,105 shares of the medical research company’s stock valued at $946,000 after buying an additional 1,087 shares during the last quarter. 37.90% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently weighed in on the stock. BidaskClub cut shares of Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BTIG Research reiterated a “buy” rating and set a $34.00 price target on shares of Accelerate Diagnostics in a research report on Wednesday, July 12th. Zacks Investment Research cut shares of Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $32.00 price target (up from $30.00) on shares of Accelerate Diagnostics in a research report on Monday, June 5th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Accelerate Diagnostics has a consensus rating of “Buy” and a consensus target price of $31.00.

About Accelerate Diagnostics

Accelerate Diagnostics, Inc is an in vitro diagnostics company engaged in providing solutions that develop patient outcomes through the diagnosis of serious infections. The Company’s in vitro diagnostic platform, the Accelerate Pheno system utilizes genotypic technology to identify (ID), infectious pathogens and phenotypic technology to conduct antibiotic susceptibility testing (AST), which determines whether live bacterial or fungal cells are resistant or susceptible to a particular antibiotic.

Receive News & Stock Ratings for Accelerate Diagnostics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accelerate Diagnostics Inc. and related stocks with our FREE daily email newsletter.