Pacific Biosciences of California (PACB) Laps the Stock Market: Here's Why

Pacific Biosciences of California (PACB) ended the recent trading session at $1.44, demonstrating a +1.41% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.08%. Meanwhile, the Dow experienced a drop of 0.18%, and the technology-dominated Nasdaq saw an increase of 0.1%.

The maker of genetic analysis technology's stock has climbed by 2.16% in the past month, exceeding the Medical sector's loss of 6.98% and the S&P 500's loss of 1.74%.

Analysts and investors alike will be keeping a close eye on the performance of Pacific Biosciences of California in its upcoming earnings disclosure. The company is expected to report EPS of -$0.17, down 13.33% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $41 million, up 10.36% from the prior-year quarter.

PACB's full-year Zacks Consensus Estimates are calling for earnings of -$0.54 per share and revenue of $175.4 million. These results would represent year-over-year changes of -1.89% and +9.62%, respectively.

Investors should also pay attention to any latest changes in analyst estimates for Pacific Biosciences of California. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Pacific Biosciences of California boasts a Zacks Rank of #1 (Strong Buy).

The Medical - Instruments industry is part of the Medical sector. With its current Zacks Industry Rank of 91, this industry ranks in the top 38% of all industries, numbering over 250.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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Pacific Biosciences of California, Inc. (PACB): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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