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Invitae (NVTA) closed the most recent trading day at $31.22, moving -0.22% from the previous trading session. This move lagged the S&P 500's daily gain of 0.2%.
Heading into today, shares of the genetic testing company had gained 19.93% over the past month, outpacing the Medical sector's gain of 4.55% and the S&P 500's gain of 1.06% in that time.
NVTA will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.68, up 11.69% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $109.53 million, up 142.85% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.61 per share and revenue of $464.41 million, which would represent changes of +6.12% and +66.75%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for NVTA. These recent revisions tend to reflect the evolving nature of short-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 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 2.98% higher. NVTA is holding a Zacks Rank of #4 (Sell) right now.
The Medical Info Systems industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 216, which puts it in the bottom 15% 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.
To follow NVTA in the coming trading sessions, be sure to utilize Zacks.com.
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Invitae Corporation (NVTA) : Free Stock Analysis Report
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