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Highlights
Zweig DiMenna Associates LLC significantly increased its stake in Natera, Inc. by 213% during the third quarter.
Natera's recent earnings report exceeded consensus estimates, showcasing robust revenue growth.
Several analysts have raised their price targets for Natera, reflecting positive market sentiment.
Zweig DiMenna Associates LLC has substantially enhanced its position in Natera, Inc. (NASDAQ:NTRA) , reporting a 213% increase in its holdings during the third quarter, according to the latest Form 13F filing with the Securities and Exchange Commission. The firm acquired an additional 165,100 shares, bringing its total ownership to 242,625 shares, which now represents 3.1% of its overall portfolio and marks Natera as its seventh largest position.
Natera, a prominent player in the medical research sector, recently reported earnings that surpassed Wall Street expectations. For the most recent quarter, the company posted earnings per share of -$0.30, exceeding the consensus estimate of -$0.69. Revenue for the quarter reached $413.35 million, significantly above the expected $343 million and reflecting a year-over-year growth of 58.1%. This performance is noteworthy given the challenges often faced by companies in the diagnostics field.
Institutional interest in Natera remains strong, with several other firms adjusting their stakes. Farallon Capital Management LLC increased its stake by 13.6%, now holding approximately 4.46 million shares valued at around $483 million. Meanwhile, First Light Asset Management LLC raised its position by 295.9% earlier this year. Overall, institutional investors control about 99.90% of Natera's stock.
The stock has shown resilience, opening at $119.17 and maintaining a market capitalization of $14.74 billion. With a price-to-earnings ratio of -48.64 and a beta of 1.53, the stock's volatility reflects the broader market's sentiments.
In terms of future outlook, analysts have expressed optimism regarding Natera's performance. Canaccord Genuity Group raised its price objective for the stock to $145, and other firms like Morgan Stanley and UBS Group have similarly adjusted their targets upwards. This reflects a consensus rating of "Moderate Buy" among analysts, with Natera's innovations in molecular testing positioning it favorably in the healthcare landscape.
