Corient Private Wealth LP Acquires New Shares in Natera, Inc. $NTRA

Key Points

• Corient Private Wealth initiated a 15,528-share position in Natera valued at approximately $4.2 million during the second quarter. Institutional investors collectively own 99.90% of the company.
• Natera’s latest quarterly results exceeded expectations: revenue rose 37.7% year over year to $752.75 million, while its loss of $0.47 per share was narrower than analysts’ estimate.
• Analysts maintain a generally bullish outlook, with a consensus “Moderate Buy” rating and a $319.38 price target. Recent insider sales were conducted under Rule 10b5-1 plans to cover tax obligations related to equity awards.

Corient Private Wealth LP bought a new stake in shares of Natera, Inc. (NASDAQ:NTRA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,528 shares of the medical research company's stock, valued at approximately $4,215,000.

Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Natera during the second quarter valued at about $2,962,770,000. K.J. Harrison & Partners Inc bought a new position in shares of Natera in the second quarter valued at approximately $5,117,000. Abbot Financial Management Inc. bought a new position in shares of Natera in the second quarter valued at approximately $1,537,000. Eagle Health Investments LP purchased a new position in Natera during the second quarter valued at approximately $4,302,000. Finally, Fifth Third Bancorp grew its stake in Natera by 3,373.1% during the first quarter. Fifth Third Bancorp now owns 11,253 shares of the medical research company's stock valued at $2,251,000 after acquiring an additional 10,929 shares in the last quarter. Hedge funds and other institutional investors own 99.90% of the company's stock.

Natera Trading Down 1.3%

NTRA stock opened at $321.96 on Tuesday. The company's 50 day moving average is $286.93 and its 200 day moving average is $234.55. The stock has a market cap of $46.41 billion, a price-to-earnings ratio of -236.73 and a beta of 1.51. Natera, Inc. has a 1-year low of $157.43 and a 1-year high of $343.18.

Natera (NASDAQ:NTRA - Get Free Report) last announced its earnings results on Thursday, August 6th. The medical research company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $661.24 million. During the same period in the previous year, the business posted ($0.74) earnings per share. Natera's revenue for the quarter was up 37.7% on a year-over-year basis. As a group, sell-side analysts forecast that Natera, Inc. will post -1.02 EPS for the current fiscal year.

Insider Activity at Natera

In related news, insider Solomon Moshkevich sold 3,410 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $265.58, for a total value of $905,627.80. Following the completion of the transaction, the insider directly owned 129,019 shares in the company, valued at approximately $34,264,866.02. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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, CEO Steven Leonard Chapman sold 3,076 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $266.39, for a total value of $819,415.64. Following the completion of the transaction, the chief executive officer directly owned 99,897 shares in the company, valued at approximately $26,611,561.83. This represents a 2.99% decrease in their position. 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 90 days, insiders have sold 103,472 shares of company stock worth $24,960,134. Corporate insiders own 5.05% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on NTRA. Robert W. Baird set a $348.00 target price on shares of Natera in a research note on Friday, August 7th. BTIG Research raised their price target on shares of Natera from $290.00 to $320.00 and gave the company a "buy" rating in a report on Friday, August 7th. Royal Bank Of Canada boosted their price target on shares of Natera from $275.00 to $350.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Wells Fargo & Company upped their price target on shares of Natera from $220.00 to $284.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Finally, TD Cowen increased their price objective on Natera from $325.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $319.38.

Natera Company Profile

Natera is a global diagnostics company that develops and commercializes cell-free DNA and other genetic testing technologies for clinical applications. The company focuses on three principal areas: reproductive health (including non-invasive prenatal testing and carrier screening), oncology (tumor-informed assays for minimal residual disease and recurrence monitoring), and organ transplantation (cell-free DNA tests to detect allograft injury). Natera combines laboratory testing, proprietary bioinformatics, and clinical reporting to deliver personalized genetic information to clinicians and patients.

Key product offerings include Panorama, a non-invasive prenatal test that screens for fetal chromosomal abnormalities and select single-gene conditions; Horizon carrier screening for inherited conditions; Signatera, a personalized, tumor-informed assay used for detecting minimal residual disease and monitoring treatment response in cancer patients; and Prospera, a donor-derived cell-free DNA test used to assess the risk of organ rejection.

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