Natera
Applies personalized molecular testing across reproductive health, oncology, and organ health.
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Profile
Offers molecular tests for women's health, oncology, and organ health through a shared assay and bioinformatics platform. Panorama and Horizon remain the reproductive-health base, Signatera supplies personalized residual-disease testing, and commercialization depends on clinical validation, accredited laboratories, physician adoption, payer coverage, and intellectual-property protection.
Provides molecular testing across women's health, oncology, and organ health using shared assay and bioinformatics capabilities. Panorama and Horizon anchor reproductive screening, while Signatera delivers personalized, tumor-informed residual-disease testing; Prospera and kidney genetics extend the platform into transplant and chronic kidney care.
Execution centers on clinical validation, accredited laboratory operations, physician adoption, and payer coverage. The reproductive-health base remains material as oncology expands, and the Foresight Diagnostics acquisition adds phased-variant technology and a lymphoma entry to the Signatera platform. A global workforce supports these operations.
Revenue remains concentrated in Panorama, Horizon, and Signatera. Laboratory-developed tests, reimbursement and collection, regulatory compliance, and intellectual-property disputes shape how the portfolio is commercialized.
Company facts
Categories
Key statistics
Year to date +42.5% · Average volume (30d) 1.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 12, 2026 | Stephens | Reiterate | Overweight | $54 | $350 |
| Aug 12, 2026 | Guggenheim | Reiterate | Buy | $290 | $360 |
| Aug 10, 2026 | Morgan Stanley | Reiterate | Overweight | $310 | $355 |
| Aug 7, 2026 | RBC Capital | Reiterate | Outperform | $275 | $350 |
| Aug 7, 2026 | Robert W. Baird | Target | $265 | $348 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.49 | −$0.47 | +4.8% | $661.2M | $752.8M | +13.8% | +21.37% |
| May 7, 2026Q1 FY26 | −$0.54 | −$0.56 | −3.3% | $617.1M | $696.6M | +12.9% | −11.64% |
| Feb 26, 2026Q4 FY25 | −$0.51 | $0.35 | +168.4% | $604.0M | $665.5M | +10.2% | −3.73% |
| Nov 6, 2025Q3 FY25 | −$0.39 | −$0.64 | −65.9% | $513.5M | $592.2M | +15.3% | +0.55% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $501.8M | $546.6M | $592.2M | $665.5M | $696.6M | $752.8M | |
| Gross profit | $317.2M | $347.1M | $384.4M | $446.8M | $451.4M | $485.2M | |
| Operating income | −$79.2M | −$110.4M | −$97.6M | −$22.8M | −$93.5M | −$75.8M | |
| Net income | −$66.9M | −$100.9M | −$87.5M | $47.3M | −$85.1M | −$67.0M | |
| Diluted EPS | −$0.50 | −$0.74 | −$0.64 | $0.35 | −$0.60 | −$0.47 | |
| Gross margin | 63.2% | 63.5% | 64.9% | 67.1% | 64.8% | 64.5% | |
| Operating margin | -15.8% | -20.2% | -16.5% | -3.4% | -13.4% | -10.1% |
Fiscal years (4-quarter sums)FY21 $625.5M · FY22 $820.2M · FY23 $1.08B · FY24 $1.70B · FY25 $2.31B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.09B · Total debt $238.5M · Total assets $2.66B · Shareholders' equity $1.82B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 143.22M · Float 136.92M · 95.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| JPMorgan Chase & Co | 12.87M | 8.98% | 13F | Aug 12, 2026 |
| BlackRock, Inc. | 10.91M | 7.62% | 13F | Aug 7, 2026 |
| T. Rowe Price Associates, Inc. | 10.87M | 7.80% | 13G | Feb 17, 2026 |
| Price T Rowe Associates Inc /MD/ | 9.02M | 6.30% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 6.23M | 4.35% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 10, 2026 | John Fesko | officer: PRESIDENT, CHIEF BUS. OFFICER | −6,517 | $321.53 |
| Aug 10, 2026 | Jonathan Sheena | director, other: CO-FOUNDER | −6,000 | $325.32 |
| Aug 7, 2026 | Jonathan Sheena | director, other: CO-FOUNDER | −9,150 | $315.66 |
| Aug 7, 2026 | Matthew Rabinowitz | director, officer: EXECUTIVE CHAIRMAN | −2,000 | $320.90 |
| Aug 3, 2026 | Jonathan Sheena | director, other: CO-FOUNDER | −109 | $267.99 |
Peers
- Myriad Genetics
Direct prenatal and carrier-screening rival with hereditary-cancer overlap
- Labcorp
Broad prenatal, carrier-screening, and oncology MRD overlap
- Guardant Health
Leading liquid-biopsy rival across MRD and genomic profiling
- CareDx
Primary transplant-surveillance rival across kidney, heart, and lung
- Quest Diagnostics
Scale competitor in prenatal, carrier screening, and oncology MRD
- Tempus AI
Oncology diagnostics rival across tumor-naive and tumor-informed MRD
- Abbott
Oncology MRD overlap through the acquired Exact Sciences business
- NeoGenomics
Tumor-informed MRD rival with a newly launched solid-tumor assay
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Natera | $325.30 | −0.26% | $46.73B | — | — | 17.3 | +37.7% |
| Myriad Genetics | $3.16 | +0.48% | $298.5M | — | — | 0.4 | −10.5% |
| Labcorp | $333.00 | −0.68% | $27.48B | 27.7 | 17.7 | 1.9 | +5.8% |
| Guardant Health | $161.50 | −0.03% | $21.67B | — | — | 18.3 | +44.3% |
| CareDx | $49.72 | −0.12% | $2.58B | 24.0 | 42.9 | 5.6 | +52.2% |
| Quest Diagnostics | $244.50 | +0.69% | $26.79B | 25.8 | 21.2 | 2.3 | +10.2% |
| Tempus AI | $63.44 | −0.89% | $11.22B | — | — | 7.8 | +21.6% |
| Abbott | $112.20 | −0.22% | $194.62B | 36.2 | 19.4 | 4.2 | +13.0% |
| NeoGenomics | $18.20 | +0.86% | $463.8M | — | 64.9 | 0.6 | +11.2% |
| Median | 26.7 | 21.2 | 3.2 | +12.1% |