Pacific Biosciences of California (PACB) closed the most recent trading day at $1.50, moving +1.35% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq added 0.09%.
The stock of maker of genetic analysis technology has risen by 27.59% in the past month, leading the Medical sector's gain of 0.24% and the S&P 500's gain of 4.37%.
The investment community will be paying close attention to the earnings performance of Pacific Biosciences of California in its upcoming release. In that report, analysts expect Pacific Biosciences of California to post earnings of -$0.18 per share. This would mark year-over-year growth of 10%. In the meantime, our current consensus estimate forecasts the revenue to be $36.46 million, indicating a 1.26% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.64 per share and a revenue of $155.12 million, demonstrating changes of +22.89% and +0.72%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Pacific Biosciences of California. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Pacific Biosciences of California boasts a Zacks Rank of #1 (Strong Buy).
The Medical – Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 30% of all 250+ industries.
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.
