Guardant Health (GH) closed at $86.66 in the latest trading session, marking a +1.8% move from the prior day. This change outpaced the S&P 500's 0.47% gain on the day. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 0.87%.
Coming into today, shares of the provider of oncology testing services had gained 1.7% in the past month. In that same time, the Medical sector lost 0.39%, while the S&P 500 gained 1.43%.
Investors will be hoping for strength from GH as it approaches its next earnings release, which is expected to be February 24, 2020. The company is expected to report EPS of -$0.30, unchanged from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $54.50 million, up 65.79% from the year-ago period.
Investors should also note any recent changes to analyst estimates for GH. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 has moved 3.82% higher. GH currently has a Zacks Rank of #1 (Strong Buy).
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 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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