Guardant Health (GH - Free Report) closed at $80.04 in the latest trading session, marking a -1.82% move from the prior day. This change lagged the S&P 500's daily loss of 0.9%. At the same time, the Dow lost 0.58%, and the tech-heavy Nasdaq lost 0.93%.
Prior to today's trading, shares of the provider of oncology testing services had lost 0.54% over the past month. This has lagged the Medical sector's gain of 0.17% and the S&P 500's gain of 3.3% in that time.
Wall Street will be looking for positivity from GH as it approaches its next earnings report date. On that day, GH is projected to report earnings of -$0.30 per share, which would represent no growth from the year-ago period. Meanwhile, our latest consensus estimate is calling for revenue of $54.50 million, up 65.79% from the prior-year quarter.
Any recent changes to analyst estimates for GH should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. GH is currently a Zacks Rank #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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