Pacific Biosciences of California (PACB) ended the recent trading session at $1.31, demonstrating a -2.96% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.5% for the day. Meanwhile, the Dow experienced a rise of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.31%.
Coming into today, shares of the maker of genetic analysis technology had gained 11.57% in the past month. In that same time, the Medical sector gained 5.49%, while the S&P 500 lost 0.23%.
The investment community will be paying close attention to the earnings performance of Pacific Biosciences of California in its upcoming release. The company is predicted to post an EPS of -$0.14, indicating a 7.69% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $42.1 million, showing a 5.86% escalation compared to the year-ago quarter.
PACB's full-year Zacks Consensus Estimates are calling for earnings of -$0.41 per share and revenue of $165.8 million. These results would represent year-over-year changes of +22.64% and +3.62%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Pacific Biosciences of California. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, 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 moved 7.41% higher. Pacific Biosciences of California currently has 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 149, finds itself in the bottom 39% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 Report
This article originally published on Zacks Investment Research (zacks.com).