T2 Biosystems (TTOO) Gains As Market Dips: What You Should Know
In the latest trading session, T2 Biosystems (TTOO) closed at $1.62, marking a +0.62% move from the previous day. This change outpaced the S&P 500's 0.62% loss on the day. At the same time, the Dow lost 0.69%, and the tech-heavy Nasdaq lost 0.94%.
Prior to today's trading, shares of the diagnostics company had gained 19.26% over the past month. This has outpaced the Medical sector's gain of 2.18% and the S&P 500's gain of 3.51% in that time.
Investors will be hoping for strength from TTOO as it approaches its next earnings release. On that day, TTOO is projected to report earnings of -$0.18 per share, which would represent year-over-year growth of 48.57%.
Any recent changes to analyst estimates for TTOO 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. TTOO is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TTOO in the coming trading sessions, be sure to utilize Zacks.com.
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T2 Biosystems, Inc. (TTOO) : Free Stock Analysis Report
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