Valmark Advisers Inc. Increases Stake in Quanterix Co. (NASDAQ:QTRX)

Valmark Advisers Inc. raised its stake in shares of Quanterix Co. (NASDAQ:QTRX) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,736 shares of the company’s stock after buying an additional 2,363 shares during the quarter. Valmark Advisers Inc. owned about 0.18% of Quanterix worth $1,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Lord Abbett & CO. LLC purchased a new position in shares of Quanterix in the third quarter valued at $27,744,000. Emerald Advisers LLC purchased a new position in shares of Quanterix in the third quarter valued at $10,462,000. Invesco Ltd. grew its holdings in shares of Quanterix by 49.6% in the third quarter. Invesco Ltd. now owns 1,103,981 shares of the company’s stock valued at $29,962,000 after purchasing an additional 366,117 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in shares of Quanterix by 353.4% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 313,044 shares of the company’s stock valued at $8,496,000 after purchasing an additional 243,994 shares in the last quarter. Finally, Mckinley Capital Management LLC purchased a new position in shares of Quanterix in the third quarter valued at $2,215,000. 86.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lifted their target price on Quanterix from $30.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 4th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $32.00.

Quanterix Trading Down 0.2 %

NASDAQ:QTRX traded down $0.03 during trading hours on Friday, hitting $15.56. The company had a trading volume of 258,697 shares, compared to its average volume of 361,444. The company has a 50-day moving average of $22.74 and a 200 day moving average of $23.33. The company has a market cap of $595.17 million, a P/E ratio of -18.09 and a beta of 1.30. Quanterix Co. has a 1 year low of $11.60 and a 1 year high of $29.70.

Quanterix (NASDAQ:QTRX) last issued its earnings results on Thursday, February 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.05). The company had revenue of $31.55 million during the quarter, compared to analysts’ expectations of $27.92 million. Quanterix had a negative net margin of 26.42% and a negative return on equity of 9.15%. On average, analysts forecast that Quanterix Co. will post -1.04 earnings per share for the current year.

Insider Transactions at Quanterix

In other news, Director Laurie J. Olson sold 1,500 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $24.35, for a total transaction of $36,525.00. Following the completion of the transaction, the director now directly owns 15,238 shares in the company, valued at approximately $371,045.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 6.80% of the company’s stock.

Quanterix Company Profile

Quanterix Corporation, a life sciences company, engages in development and marketing of digital immunoassay platforms that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers HD-X instrument, a protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection in an expanded range of applications.