In the latest close session, Pacific Biosciences of California (PACB) was up +2.4% at $2.13. The stock outperformed the S&P 500, which registered a daily loss of 0.34%. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq added 0.16%.
Heading into today, shares of the maker of genetic analysis technology had lost 14.4% over the past month, lagging the Medical sector's gain of 0.82% and the S&P 500's gain of 1.19%.
Investors will be eagerly watching for the performance of Pacific Biosciences of California in its upcoming earnings disclosure. The company is expected to report EPS of -$0.19, up 5% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $40.8 million, reflecting a 4.03% rise from the equivalent quarter last year.
PACB's full-year Zacks Consensus Estimates are calling for earnings of -$1.89 per share and revenue of $156.2 million. These results would represent year-over-year changes of -127.71% and 0%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Pacific Biosciences of California. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Pacific Biosciences of California is currently sporting a Zacks Rank of #2 (Buy).
The Medical - Instruments industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 108, positioning it in the top 45% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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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