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Agiliti (AGTI) Stock Jumps 5.5%: Will It Continue to Soar?

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Agiliti (AGTI - Free Report) shares rallied 5.5% in the last trading session to close at $20.02. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.7% gain over the past four weeks.

Agiliti saw a strong price increase, courtesy of its encouraging first-quarter 2022 results. While reported earnings surpassed the Zacks Consensus Estimate by 26.1%, revenues beat the consensus mark by 0.5%. Market is also optimistic regarding the company’s robust (reaffirmed) revenue and earnings guidance.

This medical equipment services provider is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of -13%. Revenues are expected to be $288.36 million, up 15.1% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Agiliti, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AGTI going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Agiliti belongs to the Zacks Medical Services industry. Another stock from the same industry, DermTech, Inc. (DMTK - Free Report) , closed the last trading session 9.3% higher at $4.80. Over the past month, DMTK has returned -35.4%.

DermTech, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.02. Compared to the company's year-ago EPS, this represents a change of -112.5%. DermTech, Inc. currently boasts a Zacks Rank of #4 (Sell).

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