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

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Invitae (NVTA - Free Report) closed the most recent trading day at $49.70, moving -0.98% from the previous trading session. This move lagged the S&P 500's daily gain of 0.39%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, added 0.57%.

Coming into today, shares of the genetic testing company had gained 2.03% in the past month. In that same time, the Medical sector gained 4.66%, while the S&P 500 gained 4.69%.

Investors will be hoping for strength from NVTA as it approaches its next earnings release, which is expected to be February 17, 2021. On that day, NVTA is projected to report earnings of -$0.58 per share, which would represent year-over-year growth of 7.94%. Our most recent consensus estimate is calling for quarterly revenue of $97.87 million, up 47.64% from the year-ago period.

Any recent changes to analyst estimates for NVTA should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.6% lower. NVTA currently has a Zacks Rank of #3 (Hold).

The Medical Info Systems industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 236, which puts it in the bottom 8% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

You can find more information on all of these metrics, and much more, on

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