Invitae (NVTA) closed the most recent trading day at $22.62, moving -1.74% from the previous trading session. This change lagged the S&P 500's 0.46% gain on the day. Meanwhile, the Dow gained 0.9%, and the Nasdaq, a tech-heavy index, added 0.59%.
Heading into today, shares of the genetic testing company had gained 16.91% over the past month, outpacing the Medical sector's gain of 1.03% and the S&P 500's gain of 4.04% in that time.
Wall Street will be looking for positivity from NVTA as it approaches its nex t earnings report date. In tha t report , analysts expect NVTA to post earnings of -$0.48 per share. This would mark a year-over-year decline of 2.13%. Meanwhile, our latest consensus estimate is calling for revenue of $50.49 million, up 35.32% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.93 per share and revenue of $223.65 million. These totals would mark changes of +0.52% and +51.42%, respectively, from last year.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 1.14% lower. NVTA currently has a Zacks Rank of #3 (Hold).
The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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