NanoString Technologies, Inc. (NASDAQ:NSTG) Expected to Post Quarterly Sales of $32.94 Million

Last updated on Saturday, July 24, 2021 | 2021 MarketBeat

Equities research analysts expect NanoString Technologies, Inc. (NASDAQ:NSTG) to report sales of $32.94 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for NanoString Technologies' earnings. The lowest sales estimate is $32.10 million and the highest is $34.46 million. NanoString Technologies posted sales of $22.60 million during the same quarter last year, which suggests a positive year over year growth rate of 45.8%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, August 4th.

On average, analysts expect that NanoString Technologies will report full-year sales of $148.04 million for the current year, with estimates ranging from $144.25 million to $150.10 million. For the next financial year, analysts anticipate that the firm will post sales of $187.74 million, with estimates ranging from $184.13 million to $196.65 million. Zacks' sales calculations are an average based on a survey of sell-side research analysts that follow NanoString Technologies.

NanoString Technologies (NASDAQ:NSTG) last posted its earnings results on Monday, May 10th. The biotechnology company reported ($0.62) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($0.58) by ($0.04). NanoString Technologies had a negative net margin of 81.07% and a negative return on equity of 52.15%. The firm had revenue of $31.60 million during the quarter, compared to analyst estimates of $30.51 million. NanoString Technologies's revenue for the quarter was up 18.8% compared to the same quarter last year.

Several analysts have recently commented on the company. Zacks Investment Research raised NanoString Technologies from a "sell" rating to a "hold" rating in a research report on Friday, May 14th. Morgan Stanley reduced their price target on NanoString Technologies from $70.00 to $65.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 11th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. The company has a consensus rating of "Buy" and an average price target of $70.17.

In other news, SVP Joseph M. Beechem sold 131,827 shares of NanoString Technologies stock in a transaction dated Friday, June 11th. The stock was sold at an average price of $58.94, for a total value of $7,769,883.38. Following the transaction, the senior vice president now directly owns 105,034 shares in the company, valued at $6,190,703.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elisha W. Finney sold 2,760 shares of NanoString Technologies stock in a transaction dated Wednesday, June 16th. The stock was sold at an average price of $58.70, for a total value of $162,012.00. Following the completion of the transaction, the director now owns 7,410 shares in the company, valued at $434,967. The disclosure for this sale can be found here. Insiders sold 169,588 shares of company stock worth $9,802,108 over the last quarter. 4.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of NSTG. Northern Trust Corp increased its stake in NanoString Technologies by 11.6% during the fourth quarter. Northern Trust Corp now owns 550,823 shares of the biotechnology company's stock valued at $36,839,000 after acquiring an additional 57,219 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of NanoString Technologies in the 4th quarter worth approximately $2,274,000. The Manufacturers Life Insurance Company raised its position in shares of NanoString Technologies by 20.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 26,125 shares of the biotechnology company's stock valued at $1,747,000 after acquiring an additional 4,356 shares during the last quarter. LPL Financial LLC increased its position in shares of NanoString Technologies by 65.3% in the 4th quarter. LPL Financial LLC now owns 13,816 shares of the biotechnology company's stock valued at $924,000 after buying an additional 5,457 shares in the last quarter. Finally, American International Group Inc. increased its position in shares of NanoString Technologies by 13.5% in the 4th quarter. American International Group Inc. now owns 25,658 shares of the biotechnology company's stock valued at $1,716,000 after buying an additional 3,058 shares in the last quarter.

NASDAQ:NSTG opened at $61.22 on Friday. The company has a current ratio of 14.10, a quick ratio of 13.38 and a debt-to-equity ratio of 0.95. The business's 50 day moving average price is $58.76. NanoString Technologies has a 52 week low of $32.50 and a 52 week high of $86.42. The company has a market cap of $2.77 billion, a P/E ratio of -25.19 and a beta of 1.70.

NanoString Technologies Company Profile

NanoString Technologies, Inc develops, manufactures, and sells tools for scientific and clinical research in the fields of genomics and proteomics in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system.

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