Brokers Offer Predictions for Quanterix FY2024 Earnings

Quanterix Co. (NASDAQ:QTRX) – Analysts at Leerink Partnrs lowered their FY2024 earnings per share (EPS) estimates for shares of Quanterix in a research report issued to clients and investors on Tuesday, January 21st. Leerink Partnrs analyst P. Souda now expects that the company will post earnings per share of ($0.98) for the year, down from their previous forecast of ($0.94). The consensus estimate for Quanterix’s current full-year earnings is ($0.94) per share. Leerink Partnrs also issued estimates for Quanterix’s Q4 2024 earnings at ($0.27) EPS, Q1 2025 earnings at ($0.58) EPS, Q2 2025 earnings at ($0.26) EPS, Q3 2025 earnings at ($0.24) EPS, Q4 2025 earnings at ($0.26) EPS, FY2025 earnings at ($1.33) EPS and FY2026 earnings at ($0.89) EPS.

Quanterix (NASDAQ:QTRX) last released its quarterly earnings results on Monday, December 23rd. The company reported ($0.22) earnings per share for the quarter. Quanterix had a negative return on equity of 11.74% and a negative net margin of 30.12%.

Separately, TD Cowen boosted their price objective on shares of Quanterix from $13.50 to $16.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th.

Quanterix Price Performance

QTRX opened at $10.02 on Thursday. The company’s 50 day moving average price is $11.02 and its two-hundred day moving average price is $12.46. The firm has a market capitalization of $385.97 million, a price-to-earnings ratio of -9.45 and a beta of 1.33. Quanterix has a fifty-two week low of $8.21 and a fifty-two week high of $29.70.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. raised its stake in Quanterix by 14.5% during the second quarter. American Century Companies Inc. now owns 56,145 shares of the company’s stock worth $742,000 after buying an additional 7,118 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Quanterix by 2,261.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 209,731 shares of the company’s stock worth $2,771,000 after acquiring an additional 200,851 shares during the period. Hsbc Holdings PLC raised its position in shares of Quanterix by 34.7% in the 2nd quarter. Hsbc Holdings PLC now owns 12,738 shares of the company’s stock worth $164,000 after acquiring an additional 3,279 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Quanterix in the 2nd quarter valued at about $307,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Quanterix during the 2nd quarter valued at about $140,000. Institutional investors and hedge funds own 86.48% of the company’s stock.

Quanterix Company Profile

Quanterix Corporation, a life sciences company, engages in development and marketing of digital immunoassay platforms that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers HD-X instrument, a protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection in an expanded range of applications.