In the latest trading session, Pacific Biosciences of California (PACB) closed at $1.60, marking a +1.91% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.8% for the day. On the other hand, the Dow registered a loss of 0.15%, and the technology-centric Nasdaq increased by 1.6%.
Coming into today, shares of the maker of genetic analysis technology had gained 13.77% in the past month. In that same time, the Medical sector lost 0.77%, while the S&P 500 gained 5.15%.
The investment community will be paying close attention to the earnings performance of Pacific Biosciences of California in its upcoming release. In that report, analysts expect Pacific Biosciences of California to post earnings of -$0.17 per share. This would mark a year-over-year decline of 13.33%. Alongside, our most recent consensus estimate is anticipating revenue of $41 million, indicating a 10.36% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.54 per share and a revenue of $175.4 million, representing changes of -1.89% and +9.62%, respectively, from the prior 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. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Pacific Biosciences of California boasts a Zacks Rank of #1 (Strong Buy).
The Medical - Instruments industry is part of the Medical sector. With its current Zacks Industry Rank of 86, this industry ranks in the top 36% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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).