Invitae (NVTA) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Invitae (NVTA) closed at $29.95, marking a +1.66% move from the previous day. This change outpaced the S&P 500's 0.74% gain on the day.
Coming into today, shares of the genetic testing company had lost 23.02% in the past month. In that same time, the Medical sector gained 3.01%, while the S&P 500 gained 3.21%.
On that day, NVTA is projected to report earnings of -$0.71 per share, which would represent year-over-year growth of 7.79%. Meanwhile, our latest consensus estimate is calling for revenue of $109.13 million, up 141.96% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.65 per share and revenue of $463.63 million, which would represent changes of +4.68% and +66.47%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for NVTA. These revisions help to show the ever-changing nature of 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 13.66% lower. NVTA currently has a Zacks Rank of #4 (Sell).
The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 14% 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.
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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