Bank of America Corp DE Invests $199.96 Million in Natera, Inc. $NTRA

Key Points

• Bank of America acquired 736,637 Natera shares worth approximately $199.96 million in the second quarter, giving it a 0.51% stake. Institutional investors collectively own 99.90% of the company.
• Natera shares rose 6.1% to $366.31, near their 12-month high of $366.70. The company reported revenue growth of 37.7% year over year and quarterly revenue of $752.75 million, exceeding analyst estimates.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $330.83. Meanwhile, insiders sold shares under pre-arranged plans primarily to cover tax obligations on vested equity awards.

Bank of America Corp DE bought a new position in Natera, Inc. (NASDAQ:NTRA - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 736,637 shares of the medical research company's stock, valued at approximately $199,960,000. Bank of America Corp DE owned approximately 0.51% of Natera as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NTRA. Trust Co. of Vermont acquired a new position in Natera during the 2nd quarter valued at about $26,000. Reflection Asset Management bought a new position in Natera in the 4th quarter valued at $29,000. Elevation Wealth Partners LLC purchased a new stake in shares of Natera during the 2nd quarter valued at $30,000. Palladiem LLC bought a new stake in shares of Natera during the 4th quarter worth $31,000. Finally, International Assets Investment Management LLC raised its stake in shares of Natera by 132.9% during the 1st quarter. International Assets Investment Management LLC now owns 170 shares of the medical research company's stock worth $35,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 99.90% of the company's stock.

Insiders Place Their Bets

In related news, insider Solomon Moshkevich sold 15,160 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $326.89, for a total value of $4,955,652.40. Following the transaction, the insider directly owned 110,859 shares in the company, valued at approximately $36,238,698.51. This represents a 12.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Fesko sold 6,517 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $321.53, for a total transaction of $2,095,411.01. Following the completion of the sale, the insider directly owned 197,257 shares in the company, valued at $63,424,043.21. This represents a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 68,242 shares of company stock worth $19,301,534. 5.05% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on NTRA. Wolfe Research began coverage on shares of Natera in a research report on Tuesday, June 2nd. They set an "outperform" rating and a $260.00 price target for the company. Robert W. Baird set a $348.00 price objective on shares of Natera in a research report on Friday, August 7th. Sanford C. Bernstein assumed coverage on shares of Natera in a research note on Friday, June 26th. They issued an "outperform" rating and a $310.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of Natera from $315.00 to $360.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, Rothschild & Co Redburn started coverage on shares of Natera in a report on Tuesday, September 8th. They issued a "buy" rating and a $385.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $330.83.

Natera Trading Up 6.1%

Shares of Natera stock opened at $366.31 on Friday. The company's 50-day moving average price is $303.46 and its 200-day moving average price is $245.83. Natera, Inc. has a 12-month low of $157.43 and a 12-month high of $366.70. The company has a market cap of $52.80 billion, a price-to-earnings ratio of -269.34 and a beta of 1.54.

Natera (NASDAQ:NTRA - Get Free Report) last posted its earnings results on Thursday, August 6th. The medical research company reported ($0.47) earnings per share for the quarter, topping analysts' consensus estimates of ($0.49) by $0.02. Natera had a negative net margin of 7.11% and a negative return on equity of 11.38%. The business had revenue of $752.75 million for the quarter, compared to analyst estimates of $661.24 million. During the same quarter in the prior year, the firm posted ($0.74) EPS. Natera's revenue was up 37.7% on a year-over-year basis. On average, sell-side analysts predict that Natera, Inc. will post -1.02 earnings per share for the current year.

Natera Profile

Natera, Inc is a diagnostics company that develops and commercializes molecular testing services based on cell-free DNA and other genomic technologies. The company focuses on reproductive health, oncology and organ health, providing tests intended to support screening, diagnosis, treatment planning and disease monitoring.

Its reproductive health portfolio includes Panorama, a noninvasive prenatal test that screens for certain chromosomal conditions, and Horizon, a carrier screening test.

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