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Pacific Biosciences of California (PACB) Advances While Market Declines: Some Information for Investors
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Pacific Biosciences of California (PACB - Free Report) closed at $2.17 in the latest trading session, marking a +0.46% move from the prior day. This change outpaced the S&P 500's 1.86% loss on the day. Meanwhile, the Dow lost 0.9%, and the Nasdaq, a tech-heavy index, lost 2.76%.
The maker of genetic analysis technology's shares have seen an increase of 31.71% over the last month, surpassing the Medical sector's loss of 3.61% and the S&P 500's gain of 1.01%.
The investment community will be paying close attention to the earnings performance of Pacific Biosciences of California in its upcoming release. The company is slated to reveal its earnings on November 7, 2024. The company is expected to report EPS of -$0.20, up 25.93% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $41.9 million, indicating a 24.77% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.95 per share and a revenue of $168.07 million, indicating changes of +14.41% and -16.18%, respectively, from the former year.
Investors should also note any recent changes to 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 company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Pacific Biosciences of California is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Pacific Biosciences of California (PACB) Advances While Market Declines: Some Information for Investors
Pacific Biosciences of California (PACB - Free Report) closed at $2.17 in the latest trading session, marking a +0.46% move from the prior day. This change outpaced the S&P 500's 1.86% loss on the day. Meanwhile, the Dow lost 0.9%, and the Nasdaq, a tech-heavy index, lost 2.76%.
The maker of genetic analysis technology's shares have seen an increase of 31.71% over the last month, surpassing the Medical sector's loss of 3.61% and the S&P 500's gain of 1.01%.
The investment community will be paying close attention to the earnings performance of Pacific Biosciences of California in its upcoming release. The company is slated to reveal its earnings on November 7, 2024. The company is expected to report EPS of -$0.20, up 25.93% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $41.9 million, indicating a 24.77% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.95 per share and a revenue of $168.07 million, indicating changes of +14.41% and -16.18%, respectively, from the former year.
Investors should also note any recent changes to 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 company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Pacific Biosciences of California is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.