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Invitae (NVTA) Dips More Than Broader Markets: What You Should Know

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Invitae (NVTA - Free Report) closed at $36.66 in the latest trading session, marking a -1.5% move from the prior day. This change lagged the S&P 500's daily loss of 0.09%.

Heading into today, shares of the genetic testing company had gained 5.44% over the past month, outpacing the Medical sector's gain of 0.3% and lagging the S&P 500's gain of 5.45% in that time.

Investors will be hoping for strength from NVTA as it approaches its next earnings release, which is expected to be May 4, 2021. On that day, NVTA is projected to report earnings of -$0.60 per share, which would represent year-over-year growth of 25%. Our most recent consensus estimate is calling for quarterly revenue of $102.01 million, up 58.77% from the year-ago period.

NVTA's full-year Zacks Consensus Estimates are calling for earnings of -$2.33 per share and revenue of $458.2 million. These results would represent year-over-year changes of +16.19% and +64.52%, respectively.

It is also important to note the recent changes to analyst estimates for NVTA. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.01% lower. NVTA is currently a Zacks Rank #4 (Sell).

The Medical Info Systems industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 232, which puts it in the bottom 9% 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.

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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