In the latest trading session, Invitae (NVTA) closed at $10.09, marking a -0.59% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.93%. At the same time, the Dow lost 3.04%, and the tech-heavy Nasdaq lost 0.27%.
Prior to today's trading, shares of the genetic testing company had lost 57.39% over the past month. This has lagged the Medical sector's loss of 24.66% and the S&P 500's loss of 31.71% in that time.
NVTA will be looking to display strength as it nears its next earnings release. On that day, NVTA is projected to report earnings of -$0.76 per share, which would represent a year-over-year decline of 61.7%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.
Investors should also note any recent changes to analyst estimates for NVTA. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 34.26% lower. NVTA is holding a Zacks Rank of #3 (Hold) right now.
The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% 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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