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Pacific Biosciences of California (PACB) Flat As Market Sinks: What You Should Know
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Pacific Biosciences of California (PACB - Free Report) ended the recent trading session at $2.05, demonstrating no swing from the preceding day's closing price. This change was narrower than the S&P 500's 0.5% loss on the day. Elsewhere, the Dow saw an upswing of 0.5%, while the tech-heavy Nasdaq depreciated by 1.28%.
Coming into today, shares of the maker of genetic analysis technology had gained 70.83% in the past month. In that same time, the Medical sector gained 0.74%, while the S&P 500 gained 0.1%.
The investment community will be closely monitoring the performance of Pacific Biosciences of California in its forthcoming earnings report. The company is scheduled to release its earnings on August 7, 2024. The company's upcoming EPS is projected at -$0.24, signifying a 7.69% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $40.52 million, showing a 14.82% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.91 per share and revenue of $177.46 million, indicating changes of +18.02% and -11.5%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pacific Biosciences of California. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business 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.
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. Pacific Biosciences of California currently has a Zacks Rank of #2 (Buy).
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Pacific Biosciences of California (PACB) Flat As Market Sinks: What You Should Know
Pacific Biosciences of California (PACB - Free Report) ended the recent trading session at $2.05, demonstrating no swing from the preceding day's closing price. This change was narrower than the S&P 500's 0.5% loss on the day. Elsewhere, the Dow saw an upswing of 0.5%, while the tech-heavy Nasdaq depreciated by 1.28%.
Coming into today, shares of the maker of genetic analysis technology had gained 70.83% in the past month. In that same time, the Medical sector gained 0.74%, while the S&P 500 gained 0.1%.
The investment community will be closely monitoring the performance of Pacific Biosciences of California in its forthcoming earnings report. The company is scheduled to release its earnings on August 7, 2024. The company's upcoming EPS is projected at -$0.24, signifying a 7.69% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $40.52 million, showing a 14.82% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.91 per share and revenue of $177.46 million, indicating changes of +18.02% and -11.5%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pacific Biosciences of California. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business 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.
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. Pacific Biosciences of California currently has a Zacks Rank of #2 (Buy).
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.