In a report released yesterday, Sean Lavin from BTIG maintained a Hold rating on Accelerate Diagnostics (NASDAQ: AXDX). The company’s shares closed yesterday at $22.45.
Lavin said:
“When we moved to Neutral, our concern was that sales would take a long time. AXDX reported Q1 and activity was minimal. Sales of $800k were far below consensus’ $2.8M and by our math, only eight systems were added to the total signed agreements (evaluations plus converted placements). Both rev and evaluations are falling far shy of the demand one would envision based on both management’s bullishness on their funnel and our own previously positive survey. We continue to believe that AXDX offers a compelling technology that will save lives and cut costs, but it is unclear to us why hospitals simply are not buying.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 15.1% and a 63.4% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Obalon Therapeutics Inc, and Boston Scientific Corp.
Accelerate Diagnostics has an analyst consensus of Hold.
See today’s analyst top recommended stocks >>
The company has a one-year high of $30.45 and a one-year low of $16.75. Currently, Accelerate Diagnostics has an average volume of 206.5K.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AXDX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Accelerate Diagnostics, Inc. is an in vitro diagnostics company, which engages in the provision of solutions that improve patient outcomes and lower healthcare costs through the rapid diagnosis of serious infections.
