Morgan Stanley trimmed its position in Accelerate Diagnostics Inc (NASDAQ:AXDX) by 3.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 461,442 shares of the medical research company’s stock after selling 14,790 shares during the period. Morgan Stanley owned 0.85% of Accelerate Diagnostics worth $10,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in shares of Accelerate Diagnostics in the 2nd quarter valued at $27,000. SRS Capital Advisors Inc. acquired a new stake in Accelerate Diagnostics during the 2nd quarter worth about $114,000. SG Americas Securities LLC acquired a new stake in Accelerate Diagnostics during the 2nd quarter worth about $132,000. Aperio Group LLC acquired a new stake in Accelerate Diagnostics during the 2nd quarter worth about $143,000. Finally, M&T Bank Corp acquired a new stake in Accelerate Diagnostics during the 2nd quarter worth about $206,000. 54.02% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on AXDX. ValuEngine downgraded Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. downgraded Accelerate Diagnostics from a “neutral” rating to an “underweight” rating and set a $16.00 price target on the stock. in a research report on Friday, September 27th. Piper Jaffray Companies cut their price target on Accelerate Diagnostics from $22.00 to $19.00 and set a “positive” rating on the stock in a research report on Friday, August 9th. BidaskClub downgraded Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Finally, Zacks Investment Research downgraded Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $18.67.
Shares of AXDX stock traded up $0.02 during mid-day trading on Monday, hitting $18.02. 885 shares of the stock were exchanged, compared to its average volume of 269,433. The firm has a fifty day moving average of $19.11 and a 200 day moving average of $19.40. The company has a quick ratio of 18.89, a current ratio of 19.99 and a debt-to-equity ratio of 4.81. Accelerate Diagnostics Inc has a 52-week low of $10.23 and a 52-week high of $24.00. The company has a market cap of $974.55 million, a PE ratio of -11.07 and a beta of 2.75.
Accelerate Diagnostics (NASDAQ:AXDX) last posted its earnings results on Thursday, August 8th. The medical research company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.02. The business had revenue of $1.81 million for the quarter, compared to analyst estimates of $2.71 million. Accelerate Diagnostics had a negative net margin of 1,293.91% and a negative return on equity of 170.47%. Equities analysts predict that Accelerate Diagnostics Inc will post -1.58 EPS for the current year.
Accelerate Diagnostics Company Profile
Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States, Europe, and the Middle East. 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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