Guardant Health (GH - Free Report) closed at $80.59 in the latest trading session, marking a +0.93% move from the prior day. This move outpaced the S&P 500's daily gain of 0.19%. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq gained 0.08%.
Heading into today, shares of the provider of oncology testing services had gained 0.43% over the past month, lagging the Medical sector's gain of 1.85% and the S&P 500's gain of 3.72% in that time.
Wall Street will be looking for positivity from GH as it approaches its next earnings report date. The company is expected to report EPS of -$0.30, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $54.50 million, up 65.79% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for GH. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection remained stagnant. GH is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 32% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.