Candriam Increases Stake in Natera as Analysts Raise Price Targets

Candriam S.C.A. has increased its holdings in Natera, Inc. (NASDAQ: NTRA) by 1.6% during the second quarter of 2023. According to its latest filing with the U.S. Securities and Exchange Commission, Candriam now owns 99,814 shares of the medical research company, having purchased an additional 1,531 shares during this period. The firm’s stake in Natera is valued at approximately $16.86 million.

Several other institutional investors have also adjusted their positions in Natera recently. CWM LLC raised its holdings by 13.6% in the first quarter, now owning 25,778 shares worth $3.65 million after acquiring an additional 3,077 shares. Edgestream Partners L.P. entered a new position worth $1.19 million, while Apollon Wealth Management LLC expanded its stake by 26.2%, bringing its total to 2,959 shares valued at $418,000. Victory Capital Management Inc. increased its holdings by 20.8%, now owning 423,204 shares worth $59.85 million. Hedge funds and institutional investors collectively own 99.90% of Natera’s stock.

Analysts Adjust Price Targets

Recent changes in analyst ratings reflect a positive outlook for Natera. Barclays has raised its target price for the company from $210.00 to $230.00, assigning it an “overweight” rating. Similarly, Piper Sandler increased its price objective to $230.00, maintaining an “overweight” rating. Stephens has set a new target of $235.00, while BTIG Research also raised its target from $210.00 to $230.00, giving the stock a “buy” rating. Morgan Stanley increased its target price to $220.00, also rating it as “overweight.”

Currently, fifteen investment analysts have rated Natera as a buy, three have rated it as hold, and two have issued sell ratings. According to data from MarketBeat, the company holds an average rating of “Moderate Buy” with a consensus price target of $216.65.

Insider Transactions and Market Performance

In related news, CEO Steven Leonard Chapman sold 160,703 shares of Natera stock on November 3, 2023, at an average price of $199.96, resulting in a transaction valued at approximately $32.13 million. Following this sale, Chapman retains 144,816 shares valued at around $28.96 million, reflecting a 52.60% reduction in his ownership.

Another insider, Solomon Moshkevich, sold 3,000 shares on the same date at an average price of $198.60, totaling $595,800. Moshkevich now owns 112,061 shares, valued at $22.26 million, representing a 2.61% decrease in his stake. Over the last quarter, insiders have sold 223,336 shares worth approximately $42.99 million, with insiders owning 5.63% of the company.

As of November 3, 2023, shares of Natera traded down 4.2% at $200.67 on NASDAQ. The stock has seen a 12-month low of $125.38 and a high of $212.21. With a market capitalization of $27.69 billion, Natera reports a PE ratio of -87.63 and a beta of 1.75. The stock’s 50-day moving average is $180.78, and its 200-day moving average is $165.22.

Natera most recently reported its quarterly earnings on November 3, 2023. The company revealed an earnings per share (EPS) of ($0.64), falling short of the consensus estimate of ($0.39) by $0.25. Natera’s revenue for the quarter was $592.18 million, significantly exceeding the consensus estimate of $514.55 million. This represents a 34.7% increase in revenue compared to the same quarter last year, when the company reported an EPS of ($0.26). Analysts forecast that Natera will post an EPS of ($1.49) for the current fiscal year.

Natera, Inc. specializes in developing and commercializing molecular testing services globally. Its prominent products include Panorama, a non-invasive prenatal test, and Horizon, a carrier screening test for genetic variations. The company’s innovative diagnostics play a crucial role in prenatal and genetic health assessments.