Accelerate Diagnostics (NASDAQ:AXDX) Downgraded by ValuEngine

ValuEngine downgraded shares of Accelerate Diagnostics (NASDAQ:AXDX) from a buy rating to a hold rating in a report issued on Thursday, ValuEngine reports.

Several other research firms also recently commented on AXDX. BidaskClub raised shares of Xilinx from a hold rating to a buy rating in a research note on Saturday, June 29th. Zacks Investment Research downgraded shares of ExlService from a hold rating to a sell rating in a research report on Wednesday. Finally, BTIG Research reissued a hold rating on shares of Accelerate Diagnostics in a research report on Sunday, May 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $19.67.

AXDX stock opened at $19.05 on Thursday. The stock has a market cap of $1.04 billion, a P/E ratio of -11.76 and a beta of 2.84. Accelerate Diagnostics has a 12 month low of $10.23 and a 12 month high of $24.75. The business has a 50-day moving average of $20.60. The company has a quick ratio of 24.03, a current ratio of 25.36 and a debt-to-equity ratio of 2.86.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings results on Thursday, May 9th. The medical research company reported ($0.40) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.03. The company had revenue of $1.75 million for the quarter, compared to the consensus estimate of $2.12 million. Accelerate Diagnostics had a negative net margin of 1,352.80% and a negative return on equity of 130.94%. As a group, analysts predict that Accelerate Diagnostics will post -1.6 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of AXDX. Reilly Financial Advisors LLC bought a new stake in shares of Accelerate Diagnostics in the 1st quarter valued at about $32,000. Legal & General Group Plc boosted its holdings in shares of Accelerate Diagnostics by 45.2% in the 4th quarter. Legal & General Group Plc now owns 5,995 shares of the medical research company’s stock valued at $69,000 after buying an additional 1,866 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Accelerate Diagnostics by 30,942.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,519 shares of the medical research company’s stock valued at $137,000 after buying an additional 6,498 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Accelerate Diagnostics by 331.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,727 shares of the medical research company’s stock valued at $100,000 after buying an additional 6,704 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Accelerate Diagnostics by 6.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,392 shares of the medical research company’s stock valued at $303,000 after buying an additional 836 shares in the last quarter. 50.58% of the stock is currently owned by institutional investors and hedge funds.

About Accelerate Diagnostics

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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