In the latest close session, Pacific Biosciences of California (PACB) was down 2.89% at $1.68. The stock fell short of the S&P 500, which registered a gain of 0.79% for the day. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, added 1.52%.
Heading into today, shares of the maker of genetic analysis technology had gained 9.49% over the past month, outpacing the Medical sector’s gain of 7.53% and the S&P 500’s loss of 1.82%.
Market participants will be closely following the financial results of Pacific Biosciences of California in its upcoming release. The company is expected to report EPS of -$0.14, down 7.69% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $42.1 million, reflecting a 5.86% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.41 per share and revenue of $165.8 million, which would represent changes of +22.64% and +3.62%, respectively, from the prior year.
Any recent changes to analyst estimates for Pacific Biosciences of California should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts’ favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we’ve formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 remained unchanged. Pacific Biosciences of California presently features a Zacks Rank of #2 (Buy).
The Medical – Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 164, placing it within the bottom 33% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
