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Pacific Biosciences of California (PACB) Surpasses Market Returns: Some Facts Worth Knowing
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The most recent trading session ended with Pacific Biosciences of California (PACB - Free Report) standing at $1.81, reflecting a +0.56% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.54%. At the same time, the Dow added 0.72%, and the tech-heavy Nasdaq gained 0.65%.
Prior to today's trading, shares of the maker of genetic analysis technology had gained 6.51% over the past month. This has outpaced the Medical sector's gain of 4.37% and the S&P 500's gain of 4.86% in that time.
Market participants will be closely following the financial results of Pacific Biosciences of California in its upcoming release. It is anticipated that the company will report an EPS of -$0.20, marking a 25.93% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $41.9 million, indicating a 24.77% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.95 per share and revenue of $168.07 million, indicating changes of +14.41% and -16.18%, respectively, compared to the previous 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 9.17% decrease. Pacific Biosciences of California is currently a Zacks Rank #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 63, finds itself in the top 25% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Pacific Biosciences of California (PACB) Surpasses Market Returns: Some Facts Worth Knowing
The most recent trading session ended with Pacific Biosciences of California (PACB - Free Report) standing at $1.81, reflecting a +0.56% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.54%. At the same time, the Dow added 0.72%, and the tech-heavy Nasdaq gained 0.65%.
Prior to today's trading, shares of the maker of genetic analysis technology had gained 6.51% over the past month. This has outpaced the Medical sector's gain of 4.37% and the S&P 500's gain of 4.86% in that time.
Market participants will be closely following the financial results of Pacific Biosciences of California in its upcoming release. It is anticipated that the company will report an EPS of -$0.20, marking a 25.93% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $41.9 million, indicating a 24.77% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.95 per share and revenue of $168.07 million, indicating changes of +14.41% and -16.18%, respectively, compared to the previous 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 9.17% decrease. Pacific Biosciences of California is currently a Zacks Rank #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 63, finds itself in the top 25% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.