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Pacific Biosciences of California (PACB) Stock Slides as Market Rises: Facts to Know Before You Trade
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Pacific Biosciences of California (PACB - Free Report) closed the latest trading day at $2.06, indicating a -1.9% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.47% for the day. Elsewhere, the Dow saw an upswing of 0.79%, while the tech-heavy Nasdaq appreciated by 0.28%.
Shares of the maker of genetic analysis technology witnessed a gain of 12.3% over the previous month, beating the performance of the Medical sector with its loss of 4.27% and the S&P 500's gain of 3.48%.
Investors will be eagerly watching for the performance of Pacific Biosciences of California in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 7, 2024. In that report, analysts expect Pacific Biosciences of California to post earnings of -$0.20 per share. This would mark year-over-year growth of 25.93%. Meanwhile, our latest consensus estimate is calling for revenue of $41.9 million, down 24.77% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.95 per share and revenue of $168.07 million. These totals would mark changes of +14.41% and -16.18%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Pacific Biosciences of California. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Pacific Biosciences of California is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Pacific Biosciences of California (PACB) Stock Slides as Market Rises: Facts to Know Before You Trade
Pacific Biosciences of California (PACB - Free Report) closed the latest trading day at $2.06, indicating a -1.9% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.47% for the day. Elsewhere, the Dow saw an upswing of 0.79%, while the tech-heavy Nasdaq appreciated by 0.28%.
Shares of the maker of genetic analysis technology witnessed a gain of 12.3% over the previous month, beating the performance of the Medical sector with its loss of 4.27% and the S&P 500's gain of 3.48%.
Investors will be eagerly watching for the performance of Pacific Biosciences of California in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 7, 2024. In that report, analysts expect Pacific Biosciences of California to post earnings of -$0.20 per share. This would mark year-over-year growth of 25.93%. Meanwhile, our latest consensus estimate is calling for revenue of $41.9 million, down 24.77% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.95 per share and revenue of $168.07 million. These totals would mark changes of +14.41% and -16.18%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Pacific Biosciences of California. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Pacific Biosciences of California is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.