Invitae (NVTA) closed the most recent trading day at $14.19, moving +0.71% from the previous trading session. This move lagged the S&P 500's daily gain of 3.35%. At the same time, the Dow added 3.19%, and the tech-heavy Nasdaq gained 3.62%.
Prior to today's trading, shares of the genetic testing company had lost 30.35% over the past month. This has lagged the Medical sector's loss of 10.19% and the S&P 500's loss of 14.37% in that time.
NVTA will be looking to display strength as it nears its next earnings release. In that report, analysts expect NVTA to post earnings of -$0.76 per share. This would mark a year-over-year decline of 61.7%. Our most recent consensus estimate is calling for quarterly revenue of $60.75 million, up 49.81% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.99 per share and revenue of $330.92 million, which would represent changes of -31.14% and +52.62%, respectively, from the prior year.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 4.06% lower. NVTA is holding a Zacks Rank of #3 (Hold) right now.
The Medical Info Systems industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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