In the latest trading session, Invitae (NVTA) closed at $21.68, marking a -1% move from the previous day. This move lagged the S&P 500's daily loss of 0.07%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq lost 0.22%.
Heading into today, shares of the genetic testing company had lost 10.87% over the past month, lagging the Medical sector's gain of 0.45% and the S&P 500's gain of 4.58% in that time.
NVTA will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.52, down 16% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $55 million, up 47.17% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$2.12 per share and revenue of $220.88 million. These totals would mark changes of -9.45% and +49.54%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for NVTA. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.55% lower within the past month. NVTA is currently a Zacks Rank #3 (Hold).
The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 81, putting 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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