Wall Street brokerages expect that Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI – Get Rating) will report sales of $234.91 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Maravai LifeSciences’ earnings, with the lowest sales estimate coming in at $214.00 million and the highest estimate coming in at $245.70 million. Maravai LifeSciences posted sales of $217.78 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.9%. The firm is scheduled to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Maravai LifeSciences will report full year sales of $941.44 million for the current year, with estimates ranging from $920.30 million to $954.90 million. For the next year, analysts forecast that the firm will report sales of $736.88 million, with estimates ranging from $624.60 million to $885.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Maravai LifeSciences.
Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.11. Maravai LifeSciences had a return on equity of 96.51% and a net margin of 25.25%. The firm had revenue of $244.30 million during the quarter, compared to analysts’ expectations of $232.29 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The company’s revenue was up 64.8% on a year-over-year basis.
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Several research analysts have recently weighed in on the company. Robert W. Baird decreased their price target on Maravai LifeSciences from $48.00 to $40.00 in a research note on Friday, May 6th. Morgan Stanley reduced their price objective on Maravai LifeSciences from $59.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, February 25th. Finally, Zacks Investment Research cut Maravai LifeSciences from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $48.40.
A number of large investors have recently added to or reduced their stakes in the business. Verition Fund Management LLC bought a new stake in Maravai LifeSciences during the first quarter valued at about $925,000. Walleye Capital LLC bought a new stake in Maravai LifeSciences during the first quarter valued at about $858,000. Cantor Fitzgerald L. P. bought a new stake in Maravai LifeSciences during the first quarter valued at about $3,210,000. The Manufacturers Life Insurance Company bought a new stake in Maravai LifeSciences during the first quarter valued at about $1,975,000. Finally, Weiss Multi Strategy Advisers LLC bought a new stake in Maravai LifeSciences during the first quarter valued at about $379,000. 50.18% of the stock is owned by institutional investors and hedge funds.
MRVI stock opened at $29.08 on Friday. Maravai LifeSciences has a 1-year low of $23.16 and a 1-year high of $63.55. The business has a fifty day moving average price of $33.04 and a 200-day moving average price of $34.94. The company has a debt-to-equity ratio of 0.80, a current ratio of 7.14 and a quick ratio of 6.55. The stock has a market capitalization of $7.42 billion, a P/E ratio of 18.29 and a beta of 0.76.
About Maravai LifeSciences (Get Rating)
Maravai LifeSciences Holdings, Inc, a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases in the United States and internationally. The company’s products address the key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.
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