Pacific Biosciences of California (PACB) closed the most recent trading day at $1.24, moving -3.88% from the previous trading session. This change lagged the S&P 500's 0.52% gain on the day. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq added 0.48%.
Shares of the maker of genetic analysis technology have appreciated by 33.86% over the course of the past month, outperforming the Medical sector's gain of 1.88%, and the S&P 500's gain of 4.27%.
The investment community will be closely monitoring the performance of Pacific Biosciences of California in its forthcoming earnings report. The company is predicted to post an EPS of -$0.18, indicating a 10% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $36.46 million, up 1.26% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.64 per share and revenue of $155.12 million. These totals would mark changes of +22.89% and +0.72%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Pacific Biosciences of California. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.5% upward. At present, Pacific Biosciences of California boasts a Zacks Rank of #2 (Buy).
The Medical - Instruments industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 182, finds itself in the bottom 27% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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