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Pacific Biosciences of California (PACB) Ascends While Market Falls: Some Facts to Note
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In the latest trading session, Pacific Biosciences of California (PACB - Free Report) closed at $1.88, marking a +1.62% move from the previous day. This change outpaced the S&P 500's 2.32% loss on the day. Meanwhile, the Dow experienced a drop of 1.25%, and the technology-dominated Nasdaq saw a decrease of 3.64%.
Prior to today's trading, shares of the maker of genetic analysis technology had gained 32.14% over the past month. This has outpaced the Medical sector's gain of 0.32% and the S&P 500's gain of 1.79% in that time.
Investors will be eagerly watching for the performance of Pacific Biosciences of California in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 7, 2024. The company is predicted to post an EPS of -$0.24, indicating a 7.69% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $40.52 million, down 14.82% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.91 per share and a revenue of $177.46 million, representing changes of +18.02% and -11.5%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Pacific Biosciences of California. 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 company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Pacific Biosciences of California possesses 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 100, placing it within the top 40% 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.
To follow PACB in the coming trading sessions, be sure to utilize Zacks.com.
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Pacific Biosciences of California (PACB) Ascends While Market Falls: Some Facts to Note
In the latest trading session, Pacific Biosciences of California (PACB - Free Report) closed at $1.88, marking a +1.62% move from the previous day. This change outpaced the S&P 500's 2.32% loss on the day. Meanwhile, the Dow experienced a drop of 1.25%, and the technology-dominated Nasdaq saw a decrease of 3.64%.
Prior to today's trading, shares of the maker of genetic analysis technology had gained 32.14% over the past month. This has outpaced the Medical sector's gain of 0.32% and the S&P 500's gain of 1.79% in that time.
Investors will be eagerly watching for the performance of Pacific Biosciences of California in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 7, 2024. The company is predicted to post an EPS of -$0.24, indicating a 7.69% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $40.52 million, down 14.82% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.91 per share and a revenue of $177.46 million, representing changes of +18.02% and -11.5%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Pacific Biosciences of California. 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 company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Pacific Biosciences of California possesses 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 100, placing it within the top 40% 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.
To follow PACB in the coming trading sessions, be sure to utilize Zacks.com.