Pacific Biosciences of California (PACB) closed the most recent trading day at $1.49, moving -4.49% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.79%. On the other hand, the Dow registered a loss of 0.26%, and the technology-centric Nasdaq decreased by 1.55%.
Heading into today, shares of the maker of genetic analysis technology had gained 19.08% over the past month, outpacing the Medical sector's gain of 5.5% and the S&P 500's gain of 4.28%.
Investors will be eagerly watching for the performance of Pacific Biosciences of California in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.14, marking a 7.69% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $42.1 million, up 5.86% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.41 per share and revenue of $165.8 million, indicating changes of +22.64% and +3.62%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Pacific Biosciences of California should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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 holding a Zacks Rank of #2 (Buy) right now.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 35% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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).