Pacific Biosciences of California (PACB) closed the most recent trading day at $1.29, moving +1.57% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.44% for the day. Meanwhile, the Dow experienced a rise of 0.14%, and the technology-dominated Nasdaq saw an increase of 0.7%.
The stock of maker of genetic analysis technology has fallen by 7.97% in the past month, lagging the Medical sector's gain of 1.25% and the S&P 500's gain of 4.03%.
Analysts and investors alike will be keeping a close eye on the performance of Pacific Biosciences of California in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.16, indicating a 5.88% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $40.38 million, indicating a 1.03% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.6 per share and revenue of $158.75 million, which would represent changes of +27.71% and +3.07%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Pacific Biosciences of California. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.4% decrease. Pacific Biosciences of California is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 92, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Pacific Biosciences of California, Inc. (PACB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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