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Pacific Biosciences of California, Inc. (PACB) - free report >>
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Pacific Biosciences of California, Inc. (PACB) - free report >>
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Pacific Biosciences of California (PACB) Stock Sinks As Market Gains: Here's Why
In the latest market close, Pacific Biosciences of California (PACB - Free Report) reached $1.44, with a -1.37% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.72%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, added 1.35%.
The maker of genetic analysis technology's stock has dropped by 26.63% in the past month, falling short of the Medical sector's gain of 4.51% and the S&P 500's gain of 1.02%.
The investment community will be paying close attention to the earnings performance of Pacific Biosciences of California in its upcoming release. The company is slated to reveal its earnings on February 13, 2025. The company's upcoming EPS is projected at -$0.20, signifying a 25.93% increase compared to the same quarter of the previous year.
Any recent changes to analyst estimates for Pacific Biosciences of California should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.18% increase. Currently, Pacific Biosciences of California is carrying a Zacks Rank of #4 (Sell).
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.