$28.05 Million in Sales Expected for NanoString Technologies Inc (NASDAQ:NSTG) This Quarter
Equities analysts expect NanoString Technologies Inc (NASDAQ:NSTG) to announce $28.05 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for NanoString Technologies’ earnings, with the lowest sales estimate coming in at $27.94 million and the highest estimate coming in at $28.17 million. NanoString Technologies posted sales of $28.62 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 2%. The business is expected to issue its next earnings report on Thursday, November 14th.
On average, analysts expect that NanoString Technologies will report full year sales of $121.04 million for the current financial year, with estimates ranging from $120.95 million to $121.12 million. For the next fiscal year, analysts forecast that the company will post sales of $133.04 million, with estimates ranging from $131.72 million to $134.36 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for NanoString Technologies.
NanoString Technologies (NASDAQ:NSTG) last issued its quarterly earnings results on Wednesday, July 31st. The biotechnology company reported ($0.57) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.02). The business had revenue of $30.35 million for the quarter, compared to the consensus estimate of $29.00 million. NanoString Technologies had a negative return on equity of 118.03% and a negative net margin of 68.16%.
In related news, SVP Mary Tedd Allen sold 64,333 shares of the business’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 55,433 shares in the company, valued at $1,657,446.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO R Bradley Gray sold 40,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $24.84, for a total value of $993,600.00. Following the transaction, the chief executive officer now owns 89,905 shares of the company’s stock, valued at $2,233,240.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,912 shares of company stock worth $4,045,899. 5.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. James Investment Research Inc. purchased a new position in shares of NanoString Technologies in the 2nd quarter worth about $25,000. Truvestments Capital LLC purchased a new position in shares of NanoString Technologies in the 2nd quarter worth about $74,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of NanoString Technologies in the 2nd quarter worth about $75,000. Pearl River Capital LLC purchased a new position in shares of NanoString Technologies in the 1st quarter worth about $76,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of NanoString Technologies in the 2nd quarter worth about $91,000.
NanoString Technologies stock traded up $0.06 during mid-day trading on Thursday, reaching $26.58. 328,500 shares of the company’s stock were exchanged, compared to its average volume of 523,065. The business’s fifty day simple moving average is $29.20 and its 200 day simple moving average is $26.58. The firm has a market capitalization of $886.10 million, a PE ratio of -9.56 and a beta of 1.08. NanoString Technologies has a one year low of $13.26 and a one year high of $34.78. The company has a quick ratio of 4.76, a current ratio of 5.21 and a debt-to-equity ratio of 1.27.
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.
Further Reading: What are different types of coverage ratios?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for NanoString Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NanoString Technologies and related companies with MarketBeat.com's FREE daily email newsletter.