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Pacific Biosciences (PACB) to Sell 10 PacBio Sequel Systems
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Headquartered in Menlo Park, CA, Pacific Biosciences of California, Inc. (PACB - Free Report) , announced that it will sell 10 PacBio Sequel Systems to Novogene Bioinformatics Technology Company, Ltd. Pacific Biosciences’ proprietary PacBio Sequel Systems are used for whole genome sequencing, Iso-Seq annotation and targeted sequencing services.
Over the past one year, Pacific Biosciences lost almost 62.65% in stark contrast to both the Zacks categorized Medical Instrument sub-industry’s gain of 10.16% and the S&P 500’s gain of 20.96%. However, a long-term expected earnings growth rate of 30.0%, and projected sales growth of 18.92% compared with the industry’s growth of 18.44% instills some confidence in investors.
Meanwhile, the estimate revision trend for the stock has been dismal as three estimates moved south and none moved north in the last two months. Notably, the current fiscal year estimate for the stock is a loss of 84 cents per share.
Coming back to the news, Pacific Biosciences’ proprietary PacBio sequencing systems are based on its unique Single Molecule, Real-Time (SMRT) technology. It provides a high depth of genetic information through long sequencing reads, uniform coverage and high consensus accuracy. The technology allows scientists to go beyond fragmented draft genomes and generate the most comprehensive de novo assemblies.
Pacific Biosciences of California develops, manufactures and markets sequencing systems, which help in studying synthesis, composition, structure and regulation of deoxyribonucleic acid, popularly known as DNA.
Going forward, we believe Pacific Biosciences’ business will continue to witness growth. The company’s product and service revenues for 2016 are expected to grow between 55% and 65% over 2015. The company is also targeting product and service revenue growth by another 40% to 60% in 2017.
Zacks Rank & Key Picks
Currently, Pacific Biosciences has a Zacks Rank #3 (Hold).
Better-ranked stocks in the broader medical sector include Glaukos Corporation (GKOS - Free Report) , Dextera Surgical Inc. and Penumbra Inc. (PEN - Free Report) . Notably, Glaukos Corporation and Penumbra sport a Zacks Rank #1 (Strong Buy) while Dextera carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Glaukos has a long-term expected earnings growth rate of approximately 25%. Notably, the stock posted an impressive one-year return of 109.14%.
Dextera Surgical posted a positive earnings surprise of 8.3% in the last reported quarter. Additionally, a long-term expected earnings growth rate of 25% raises investors’ confidence.
Penumbra has a long-term expected earnings growth rate of 20%. Notably, the stock has seen encouraging returns of almost 32.9% over the past one year.
Zacks' Top 10 Stocks for 2017
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Pacific Biosciences (PACB) to Sell 10 PacBio Sequel Systems
Headquartered in Menlo Park, CA, Pacific Biosciences of California, Inc. (PACB - Free Report) , announced that it will sell 10 PacBio Sequel Systems to Novogene Bioinformatics Technology Company, Ltd. Pacific Biosciences’ proprietary PacBio Sequel Systems are used for whole genome sequencing, Iso-Seq annotation and targeted sequencing services.
Over the past one year, Pacific Biosciences lost almost 62.65% in stark contrast to both the Zacks categorized Medical Instrument sub-industry’s gain of 10.16% and the S&P 500’s gain of 20.96%. However, a long-term expected earnings growth rate of 30.0%, and projected sales growth of 18.92% compared with the industry’s growth of 18.44% instills some confidence in investors.
Meanwhile, the estimate revision trend for the stock has been dismal as three estimates moved south and none moved north in the last two months. Notably, the current fiscal year estimate for the stock is a loss of 84 cents per share.
Coming back to the news, Pacific Biosciences’ proprietary PacBio sequencing systems are based on its unique Single Molecule, Real-Time (SMRT) technology. It provides a high depth of genetic information through long sequencing reads, uniform coverage and high consensus accuracy. The technology allows scientists to go beyond fragmented draft genomes and generate the most comprehensive de novo assemblies.
Pacific Biosciences of California develops, manufactures and markets sequencing systems, which help in studying synthesis, composition, structure and regulation of deoxyribonucleic acid, popularly known as DNA.
Going forward, we believe Pacific Biosciences’ business will continue to witness growth. The company’s product and service revenues for 2016 are expected to grow between 55% and 65% over 2015. The company is also targeting product and service revenue growth by another 40% to 60% in 2017.
Zacks Rank & Key Picks
Currently, Pacific Biosciences has a Zacks Rank #3 (Hold).
Better-ranked stocks in the broader medical sector include Glaukos Corporation (GKOS - Free Report) , Dextera Surgical Inc. and Penumbra Inc. (PEN - Free Report) . Notably, Glaukos Corporation and Penumbra sport a Zacks Rank #1 (Strong Buy) while Dextera carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Glaukos has a long-term expected earnings growth rate of approximately 25%. Notably, the stock posted an impressive one-year return of 109.14%.
Dextera Surgical posted a positive earnings surprise of 8.3% in the last reported quarter. Additionally, a long-term expected earnings growth rate of 25% raises investors’ confidence.
Penumbra has a long-term expected earnings growth rate of 20%. Notably, the stock has seen encouraging returns of almost 32.9% over the past one year.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>