Pacific Biosciences of California (PACB) ended the recent trading session at $1.59, demonstrating a -1.85% change from the preceding day's closing price. This change lagged the S&P 500's 0.16% loss on the day. Elsewhere, the Dow saw an upswing of 0.44%, while the tech-heavy Nasdaq depreciated by 0.76%.
Prior to today's trading, shares of the maker of genetic analysis technology had gained 35% outpaced the Medical sector's gain of 1.54% and the S&P 500's gain of 1.14%.
The upcoming earnings release of Pacific Biosciences of California will be of great interest to investors. The company's upcoming EPS is projected at -$0.16, signifying a 5.88% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $39.84 million, indicating a 0.33% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.56 per share and revenue of $158.66 million. These totals would mark changes of +32.53% and +3.02%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pacific Biosciences of California. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 5.88% higher. Pacific Biosciences of California is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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