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Accelerate Diagnostics (AXDX) Moves 12.7% Higher: Will This Strength Last?
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Accelerate Diagnostics (AXDX - Free Report) shares rallied 12.7% in the last trading session to close at $6.48. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 18.4% loss over the past four weeks.
Accelerate Diagnostics scored a strong price increase, on investors’ optimism driven by the company’s progress in the commercial partnership with Becton, Dickinson and Company. In the last reported 2023 second quarter, the partnership resulted in the strongest quarter for contracted instruments in the United States since 2021. The company is also significantly advancing with its next generation Wave development program. This might have boosted further confidence in the stock.
This maker of systems that diagnose drug-resistant infections is expected to post quarterly loss of $0.94 per share in its upcoming report, which represents a year-over-year change of +47.8%. Revenues are expected to be $3.6 million, up 21.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Accelerate Diagnostics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AXDX going forward to see if this recent jump can turn into more strength down the road.
Accelerate Diagnostics is part of the Zacks Medical - Instruments industry. TransMedics (TMDX - Free Report) , another stock in the same industry, closed the last trading session 3.6% lower at $52.78. TMDX has returned -20.8% in the past month.
TransMedics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.18. Compared to the company's year-ago EPS, this represents a change of +28%. TransMedics currently boasts a Zacks Rank of #3 (Hold).
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Accelerate Diagnostics (AXDX) Moves 12.7% Higher: Will This Strength Last?
Accelerate Diagnostics (AXDX - Free Report) shares rallied 12.7% in the last trading session to close at $6.48. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 18.4% loss over the past four weeks.
Accelerate Diagnostics scored a strong price increase, on investors’ optimism driven by the company’s progress in the commercial partnership with Becton, Dickinson and Company. In the last reported 2023 second quarter, the partnership resulted in the strongest quarter for contracted instruments in the United States since 2021. The company is also significantly advancing with its next generation Wave development program. This might have boosted further confidence in the stock.
This maker of systems that diagnose drug-resistant infections is expected to post quarterly loss of $0.94 per share in its upcoming report, which represents a year-over-year change of +47.8%. Revenues are expected to be $3.6 million, up 21.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Accelerate Diagnostics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AXDX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Accelerate Diagnostics is part of the Zacks Medical - Instruments industry. TransMedics (TMDX - Free Report) , another stock in the same industry, closed the last trading session 3.6% lower at $52.78. TMDX has returned -20.8% in the past month.
TransMedics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.18. Compared to the company's year-ago EPS, this represents a change of +28%. TransMedics currently boasts a Zacks Rank of #3 (Hold).