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Invitae (NVTA) Stock Sinks As Market Gains: What You Should Know

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Invitae (NVTA - Free Report) closed at $29.12 in the latest trading session, marking a -1.59% move from the prior day. This change lagged the S&P 500's daily gain of 1.24%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 1.35%.

Prior to today's trading, shares of the genetic testing company had lost 2.31% over the past month. This has lagged the Medical sector's gain of 4.6% and the S&P 500's gain of 7.09% in that time.

Wall Street will be looking for positivity from NVTA as it approaches its next earnings report date. This is expected to be August 4, 2020. In that report, analysts expect NVTA to post earnings of -$0.62 per share. This would mark a year-over-year decline of 19.23%. Our most recent consensus estimate is calling for quarterly revenue of $39.83 million, down 25.52% from the year-ago period.

NVTA's full-year Zacks Consensus Estimates are calling for earnings of -$2.52 per share and revenue of $264.66 million. These results would represent year-over-year changes of -10.53% and +22.06%, respectively.

Investors should also note any recent changes to analyst estimates for NVTA. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 9.72% higher. NVTA is currently sporting a Zacks Rank of #3 (Hold).

The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 203, putting it in the bottom 21% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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