Pacific Biosciences of California (PACB) Dips More Than Broader Market: What You Should Know
Pacific Biosciences of California (PACB) ended the recent trading session at $1.27, demonstrating a -1.55% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.59%. Elsewhere, the Dow lost 0.6%, while the tech-heavy Nasdaq lost 0.65%.
Coming into today, shares of the maker of genetic analysis technology had gained 16.22% in the past month. In that same time, the Medical sector lost 0.36%, while the S&P 500 lost 1.37%.
The upcoming earnings release of Pacific Biosciences of California will be of great interest to investors. The company's upcoming EPS is projected at -$0.13, signifying a 8.33% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $37.86 million, indicating a 1.51% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.43 per share and revenue of $156.1 million. These totals would mark changes of +18.87% and -2.44%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Pacific Biosciences of California. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Pacific Biosciences of California holds a Zacks Rank of #4 (Sell).
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 98, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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