Invitae (NVTA) closed the most recent trading day at $32.81, moving -1.97% from the previous trading session. This change lagged the S&P 500's daily loss of 0.94%. At the same time, the Dow added 0.04%, and the tech-heavy Nasdaq lost 2.13%.
Coming into today, shares of the genetic testing company had gained 112.1% in the past month. In that same time, the Medical sector lost 1.77%, while the S&P 500 gained 0.02%.
NVTA will be looking to display strength as it nears its next earnings release. In that report, analysts expect NVTA to post earnings of -$0.62 per share. This would mark a year-over-year decline of 19.23%. Our most recent consensus estimate is calling for quarterly revenue of $39.83 million, down 25.52% from the year-ago period.
NVTA's full-year Zacks Consensus Estimates are calling for earnings of -$2.66 per share and revenue of $260.29 million. These results would represent year-over-year changes of -16.67% and +20.04%, respectively.
Any recent changes to analyst estimates for NVTA should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 6.09% higher within the past month. NVTA is currently a Zacks Rank #3 (Hold).
The Medical Info Systems industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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