Yahoo Finance Pacific Biosciences of California (PACB) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Pacific Biosciences of California (PACB) closed at $1.65, marking a -1.5% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.25%. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.03%.
Prior to today's trading, shares of the maker of genetic analysis technology had lost 13.02% over the past month. This has lagged the Medical sector's gain of 0.11% and the S&P 500's gain of 3.34% in that time.
Market participants will be closely following the financial results of Pacific Biosciences of California in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.24, reflecting a 7.69% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $40.52 million, indicating a 14.82% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.91 per share and revenue of $177.46 million. These totals would mark changes of +18.02% and -11.5%, respectively, from last year.
Any recent changes to analyst estimates for Pacific Biosciences of California should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.58% rise in the Zacks Consensus EPS estimate. Currently, Pacific Biosciences of California is carrying a Zacks Rank of #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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, Inc. (PACB) : Free Stock Analysis Report
