Zacks: Brokerages Expect NanoString Technologies Inc (NASDAQ:NSTG) to Announce -$0.55 EPS

Equities analysts predict that NanoString Technologies Inc (NASDAQ:NSTG) will report ($0.55) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for NanoString Technologies’ earnings, with the highest EPS estimate coming in at ($0.53) and the lowest estimate coming in at ($0.58). NanoString Technologies posted earnings of ($0.80) per share during the same quarter last year, which would indicate a positive year over year growth rate of 31.3%. The business is scheduled to announce its next earnings report after the market closes on Wednesday, July 31st.

According to Zacks, analysts expect that NanoString Technologies will report full-year earnings of ($2.21) per share for the current financial year, with EPS estimates ranging from ($2.30) to ($2.05). For the next year, analysts expect that the firm will report earnings of ($1.84) per share, with EPS estimates ranging from ($2.33) to ($1.33). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow NanoString Technologies.

NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.69) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.65) by ($0.04). The business had revenue of $27.69 million for the quarter, compared to the consensus estimate of $25.42 million. NanoString Technologies had a negative net margin of 71.94% and a negative return on equity of 166.73%.

A number of analysts have recently issued reports on the company. BidaskClub downgraded Westport Fuel Systems from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research upgraded General Moly from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $24.60.

Shares of NSTG traded up $0.19 during trading hours on Friday, reaching $31.78. 638,860 shares of the company’s stock traded hands, compared to its average volume of 669,387. The company has a market capitalization of $1.11 billion, a PE ratio of -11.43 and a beta of 1.14. The company has a debt-to-equity ratio of 0.92, a quick ratio of 4.48 and a current ratio of 4.83. The firm’s 50 day simple moving average is $28.13. NanoString Technologies has a 12 month low of $11.12 and a 12 month high of $32.99.

In other news, SVP Mary Tedd Allen sold 64,333 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $29.90, for a total transaction of $1,923,556.70. Following the transaction, the senior vice president now directly owns 55,433 shares of the company’s stock, valued at $1,657,446.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP David W. Ghesquiere sold 6,954 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $29.41, for a total value of $204,517.14. Following the transaction, the senior vice president now directly owns 44,868 shares in the company, valued at $1,319,567.88. The disclosure for this sale can be found here. Insiders sold a total of 121,287 shares of company stock valued at $3,457,574 in the last 90 days. 5.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC grew its stake in NanoString Technologies by 7.3% in the first quarter. ARK Investment Management LLC now owns 3,476,526 shares of the biotechnology company’s stock worth $83,193,000 after purchasing an additional 237,834 shares during the period. Neuberger Berman Group LLC grew its stake in NanoString Technologies by 0.8% in the first quarter. Neuberger Berman Group LLC now owns 1,229,541 shares of the biotechnology company’s stock worth $29,413,000 after purchasing an additional 9,662 shares during the period. Nikko Asset Management Americas Inc. grew its stake in NanoString Technologies by 13,584.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 479,514 shares of the biotechnology company’s stock worth $11,475,000 after purchasing an additional 476,010 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in NanoString Technologies in the first quarter worth $11,221,000. Finally, Federated Investors Inc. PA grew its stake in NanoString Technologies by 59,700.7% in the first quarter. Federated Investors Inc. PA now owns 360,000 shares of the biotechnology company’s stock worth $8,615,000 after purchasing an additional 359,398 shares during the period. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

NanoString Technologies Company Profile

NanoString Technologies, Inc provides life science tools for translational research and molecular diagnostic products worldwide. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system. It provides nCounter MAX and FLEX systems that include Prep Station, an automated liquid handling component that processes and prepares samples for data collection; and nCounter Digital Analyzer, which collects data from samples by taking images of the immobilized fluorescent reporters in the sample cartridge and processing the data into output files.

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