Signify Health shares rallied 6% in the last trading session to close at $13. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.3% loss over the past four weeks.
Signify Health witnessed solid price appreciation following the announcement of the company’s official opening of its new regional service center in Oklahoma City. The new service center has been built taking into account the distinct needs of a hybrid workforce that includes a flexible floor plan and collaboration spaces.
This healthcare platform is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of +150%. Revenues are expected to be $237.66 million, up 11.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Signify, the consensus EPS estimate for the quarter has been revised 5.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SGFY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Signify belongs to the Zacks Medical Info Systems industry. Another stock from the same industry, Invitae , closed the last trading session 4.7% higher at $2.23. Over the past month, NVTA has returned -42.7%.
Invitae's consensus EPS estimate for the upcoming report has changed +0.5% over the past month to -$0.72. Compared to the company's year-ago EPS, this represents a change of +15.3%. Invitae currently boasts a Zacks Rank of #3 (Hold).
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Signify (SGFY) Stock Jumps 6%: Will It Continue to Soar?
Signify Health shares rallied 6% in the last trading session to close at $13. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.3% loss over the past four weeks.
Signify Health witnessed solid price appreciation following the announcement of the company’s official opening of its new regional service center in Oklahoma City. The new service center has been built taking into account the distinct needs of a hybrid workforce that includes a flexible floor plan and collaboration spaces.
This healthcare platform is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of +150%. Revenues are expected to be $237.66 million, up 11.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Signify, the consensus EPS estimate for the quarter has been revised 5.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SGFY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Signify belongs to the Zacks Medical Info Systems industry. Another stock from the same industry, Invitae , closed the last trading session 4.7% higher at $2.23. Over the past month, NVTA has returned -42.7%.
Invitae's consensus EPS estimate for the upcoming report has changed +0.5% over the past month to -$0.72. Compared to the company's year-ago EPS, this represents a change of +15.3%. Invitae currently boasts a Zacks Rank of #3 (Hold).