Pacific Biosciences of California (PACB) closed at $2.21 in the latest trading session, marking a -5.96% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.06%. Elsewhere, the Dow saw a downswing of 0.17%, while the tech-heavy Nasdaq depreciated by 0.06%.
Shares of the maker of genetic analysis technology have appreciated by 25% over the course of the past month, outperforming the Medical sector's loss of 0.79%, and the S&P 500's gain of 1.99%.
The upcoming earnings release of Pacific Biosciences of California will be of great interest to investors. The company is expected to report EPS of -$0.19, up 5% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.89 per share and revenue of $0 million. These totals would mark changes of -127.71% and 0%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Pacific Biosciences of California. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Pacific Biosciences of California holds 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 106, which puts it in the top 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Pacific Biosciences of California, Inc. (PACB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
