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Pacific Biosciences of California (PACB) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Company Overview - Pacific Biosciences of California (PACB) ended the recent trading session at $1.59, reflecting a -1.85% change from the previous day's closing price, which lagged behind the S&P 500's 0.16% loss [1] - Prior to this trading session, shares of Pacific Biosciences had gained 35%, significantly outperforming the Medical sector's gain of 1.54% and the S&P 500's gain of 1.14% [1] Earnings Projections - The upcoming earnings release is projected to show an EPS of -$0.16, indicating a 5.88% increase compared to the same quarter of the previous year [2] - Revenue is anticipated to be $39.84 million, reflecting a 0.33% decrease from the same quarter last year [2] - For the full year, analysts expect earnings of -$0.56 per share and revenue of $158.66 million, marking changes of +32.53% and +3.02% respectively from last year [3] Analyst Forecasts - Recent revisions to analyst forecasts for Pacific Biosciences are important as they indicate changing near-term business trends, with positive revisions reflecting analyst optimism about the business and profitability [4] - The Zacks Rank system, which incorporates estimate changes, currently ranks Pacific Biosciences at 3 (Hold), with a consensus EPS projection having moved 5.88% higher in the past 30 days [6] Industry Context - The Medical - Instruments industry, which includes Pacific Biosciences, has a Zacks Industry Rank of 95, placing it in the top 39% of over 250 industries [7] - The Zacks Industry Rank assesses the strength of specific industry groups, indicating that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]