Pacific Biosciences of California (PACB) ended the recent trading session at $1.52, demonstrating a +2.01% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.37%. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq appreciated by 0.71%.
Prior to today's trading, shares of the maker of genetic analysis technology had gained 17.32% outpaced the Medical sector's gain of 5.9% and the S&P 500's gain of 4.26%.
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 predicted to post an EPS of -$0.16, indicating a 5.88% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $40.38 million, indicating a 1.03% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.6 per share and revenue of $158.75 million. These totals would mark changes of +27.71% and +3.07%, respectively, from last 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.84% lower within the past month. Pacific Biosciences of California is currently a Zacks Rank #3 (Hold).
The Medical – Instruments industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 144, positioning it in the bottom 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.
