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

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In the latest trading session, Invitae (NVTA - Free Report) closed at $34.25, marking a +1.3% move from the previous day. This move outpaced the S&P 500's daily gain of 0.58%.

Heading into today, shares of the genetic testing company had gained 16.83% over the past month, outpacing the Medical sector's gain of 2.01% and the S&P 500's gain of 2.17% in that time.

NVTA will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.68, up 11.69% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $109.74 million, up 143.33% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$2.57 per share and revenue of $464.19 million. These totals would mark changes of +7.55% and +66.67%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for NVTA. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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. Over the past month, the Zacks Consensus EPS estimate has moved 0.59% 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 231, which puts it in the bottom 10% 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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