Natera (NASDAQ:NTRA) Shares Gap Up Following Better-Than-Expected Earnings

Natera, Inc. (NASDAQ:NTRA - Get Free Report) gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $135.12, but opened at $155.56. Natera shares last traded at $163.45, with a volume of 653,463 shares traded.

The medical research company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.31. Natera had a negative net margin of 14.01% and a negative return on equity of 26.88%. The business had revenue of $439.80 million for the quarter, compared to analysts' expectations of $361.43 million. During the same quarter in the prior year, the business earned ($0.95) EPS. The business's revenue for the quarter was up 63.9% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NTRA. Robert W. Baird increased their price target on Natera from $120.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday. Leerink Partners boosted their price target on Natera from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Stephens reiterated an "overweight" rating and issued a $125.00 price objective on shares of Natera in a research note on Friday, August 9th. TD Cowen increased their price target on shares of Natera from $155.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Morgan Stanley boosted their price objective on shares of Natera from $125.00 to $132.00 and gave the company an "overweight" rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $135.06.

Insider Activity at Natera

In other Natera news, CEO Steven Leonard Chapman sold 4,523 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $130.40, for a total transaction of $589,799.20. Following the completion of the transaction, the chief executive officer now owns 191,163 shares of the company's stock, valued at $24,927,655.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Steven Leonard Chapman sold 4,523 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $130.40, for a total transaction of $589,799.20. Following the completion of the transaction, the chief executive officer now directly owns 191,163 shares in the company, valued at approximately $24,927,655.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Burkes Brophy sold 608 shares of the company's stock in a transaction on Monday, October 21st. The shares were sold at an average price of $120.76, for a total transaction of $73,422.08. Following the sale, the chief financial officer now directly owns 74,014 shares in the company, valued at approximately $8,937,930.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,464 shares of company stock valued at $5,849,977. Corporate insiders own 7.60% of the company's stock.

Hedge Funds Weigh In On Natera

A number of institutional investors and hedge funds have recently modified their holdings of NTRA. Brooklyn Investment Group purchased a new stake in Natera in the 3rd quarter worth about $70,000. Millrace Asset Group Inc. lifted its stake in shares of Natera by 22.5% during the 3rd quarter. Millrace Asset Group Inc. now owns 12,144 shares of the medical research company's stock worth $1,542,000 after acquiring an additional 2,228 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Natera by 87.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 67,906 shares of the medical research company's stock valued at $8,621,000 after acquiring an additional 31,649 shares during the period. Harvest Fund Management Co. Ltd grew its position in Natera by 90.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 7,774 shares of the medical research company's stock valued at $987,000 after acquiring an additional 3,697 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in Natera in the third quarter worth $232,000. Hedge funds and other institutional investors own 99.90% of the company's stock.

Natera Stock Performance

The firm has a market capitalization of $19.91 billion, a P/E ratio of -94.03 and a beta of 1.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.14 and a quick ratio of 4.01. The firm has a 50-day moving average price of $125.09 and a two-hundred day moving average price of $114.52.

Natera Company Profile

Natera, Inc, a diagnostics company, develops and commercializes molecular testing services worldwide. Its products include Panorama, a non-invasive prenatal test that screens for chromosomal abnormalities of a fetus, as well as in twin pregnancies; Horizon carrier screening test for individuals and couples determine if they are carriers of genetic variations that cause certain genetic conditions; Vistara single-gene NIPT screens for 25 single-gene disorders that cause severe skeletal, cardiac, and neurological conditions; Spectrum, preimplantation genetic tests for couples undergoing IVF; Anora that analyzes miscarriage tissue from women; Empower, a hereditary cancer screening test; and non-invasive prenatal paternity product, which allows a couple to establish paternity without waiting for the child to be born.