Why the Market Dipped But Pacific Biosciences of California (PACB) Gained Today

Pacific Biosciences of California (PACB) closed at $2 in the latest trading session, marking a +0.5% move from the prior day. The stock's change was more than the S&P 500's daily loss of 1.11%. On the other hand, the Dow registered a loss of 0.42%, and the technology-centric Nasdaq decreased by 1.89%.Heading into today, shares of the maker of genetic analysis technology had lost 8.72% over the past month, lagging the Medical sector's loss of 6.22% and the S&P 500's loss of 1.7% in that time.The investment community will be closely monitoring the performance of Pacific Biosciences of California in its forthcoming earnings report. The company is forecasted to report an EPS of -$0.20, showcasing a 25.93% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $40.9 million, indicating a 29.92% downward movement from the same quarter last year.Investors should also take note of any recent adjustments to analyst estimates for Pacific Biosciences of California. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.95% lower. At present, Pacific Biosciences of California boasts a Zacks Rank of #3 (Hold).The Medical - Instruments industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 69, positioning it in the top 28% of all 250+ industries.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pacific Biosciences of California, Inc. (PACB): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks