Pacific Biosciences of California, Inc. (PACB) reported first-quarter 2020 earnings per share of a penny against the Zacks Consensus Estimate of a loss of 15 cents. The company had reported a loss of 20 cents in the year-ago quarter.Revenues totaled $15.6 million, which missed the Zacks Consensus Estimate by 22.4% and fell 4.9% from the year-ago quarter’s tally.Segmental AnalysisProduct Revenues: At this segment, revenues amounted to $12.3 million, down 8.9% from the prior-year quarter’s tally.Service and Other Revenues: At this segment, revenues came in at $3.3 million, up 13.8% year over year.MarginsGross profit in the first quarter was $7.5 million, up 46.3% year over year.Gross margin was 48% of total revenues, expanding 1685 basis points.Operating expenses totaled $40.2 million, up 14% year over year.Operating loss came in at $32.7 million, wider than the year-ago quarter’s loss of $30.1 million.Pacific Biosciences of California Inc Price, Consensus and EPS Surprise Pacific Biosciences of California Inc price-consensus-eps-surprise-chart | Pacific Biosciences of California Inc QuoteMerger Termination With IlluminaOn Jan 2, 2020, Pacific Biosciences and Illumina agreed to terminate their merger agreement, which was announced in 2019.Our TakePacific Biosciences ended the first quarter on a mixed note.The company saw revenue growth in its Service and Other segment. The company continues to gain from its flagship Sequel system. Massive gross margin expansion was also noted in the quarter. Additionally, the company received termination fee from Illumina, which got reflected on the results. On the flip side,the company saw decline in Product revenues. Escalation of operating expenses is another concern.Zacks Rank and Other Key PicksPacific Biosciences currently carries a Zacks Rank #2 (Buy).Some other top-ranked stocks in the broader medical space are Aphria Inc. APHA, Biogen Inc. BIIB and Eli Lilly and Company LLY.Aphria reported third-quarter fiscal 2020 adjusted EPS of 2 cents against the Zacks Consensus Estimate of a loss of 4 cents. Net revenues of $64.4 million outpaced the consensus estimate by 14.6%. The company carries a Zacks Rank #2 at present.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Biogen currently carries a Zacks Rank #2. It reported first-quarter 2020 adjusted EPS of $9.14, surpassing the Zacks Consensus Estimate by 18.1%. Revenues of $3.53 billion outpaced the consensus mark by 3.2%.Eli Lilly delivered first-quarter 2020 EPS of $1.75, outpacing the Zacks Consensus Estimate by 12.9%. Revenues of $145.3 million surpassed the consensus estimate by 6.3%. The company currently sports a Zacks Rank #1.Biggest Tech Breakthrough in a GenerationBe among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.See 8 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Biogen Inc (BIIB): Free Stock Analysis Report Eli Lilly and Company (LLY): Free Stock Analysis Report Pacific Biosciences of California Inc (PACB): Free Stock Analysis Report Aphria Inc (APHA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research