Natera (NTRA): Fast-Growing Diagnostics Leader Continues to Build Momentum
Artificial intelligence may dominate the headlines, but one of the market’s strongest performers over the past year has come from a very different corner of healthcare. We believe Natera (NTRA) is a company worth watching.
The genetic testing specialist has quietly delivered outstanding returns while continuing to expand its leadership in several rapidly growing diagnostic markets, including oncology, women’s health, organ health and rare disease testing.
Demand for the company’s testing services continues to accelerate. In 2025, Natera processed 3.5 million tests, a 15% increase from the prior year, helping drive revenue to $2.3 billion, up 35.9% year over year.
That momentum has carried into 2026. During the first quarter, Natera processed more than one million tests in a single quarter for the first time in company history. Revenue climbed 39% to $697 million, and management raised the midpoint of its full-year revenue guidance by $120 million.
One of the company’s biggest growth drivers continues to be oncology. Natera increased processed oncology tests by 51.6% from more than 528,000 in 2024 to over 800,000 in 2025. That strength continued in the first quarter of 2026, with oncology testing volume increasing by more than 50%.
The company also reached an important regulatory milestone in June when its Signatera test became the first approved molecular residual disease test for colorectal cancer patients in Japan. The test is expected to launch there by the end of 2026, opening another avenue for international growth.
The long-term opportunity appears substantial. According to Grand View Research, the global genetic testing market is projected to grow from $11.7 billion in 2024 to $39.3 billion by 2030. At the same time, the global cancer diagnostics market is expected to expand from $119.8 billion in 2025 to $191.1 billion by 2033, providing a favorable backdrop for companies with established testing platforms.
The stock trades around $277 per share. Institutional investors have taken notice as well. At the end of the first quarter of 2026, Natera was the largest holding in Stanley Druckenmiller’s Duquesne Family Office portfolio, representing 18.1% of assets with a position valued at nearly $613 million.
Wall Street remains optimistic, with 19 of the 22 analysts covering the company rating the stock a Buy.
Natera isn’t without risk. The company remains unprofitable, reporting a net loss of $208.2 million in 2025 while continuing to increase research and development spending to support future growth. However, for investors willing to accept that risk, we believe the company’s accelerating test volumes, expanding market opportunities and strong revenue growth make it an attractive long-term growth story.
