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Invitae (NVTA) Gains As Market Dips: What You Should Know

In the latest trading session, Invitae (NVTA) closed at $32.79, marking a +1.52% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.31%.

Heading into today, shares of the genetic testing company had gained 17.16% over the past month, outpacing the Medical sector's gain of 3.6% and the S&P 500's gain of 1.56% in that time.

Wall Street will be looking for positivity from NVTA as it approaches its next earnings report date. On that day, NVTA is projected to report earnings of -$0.68 per share, which would represent year-over-year growth of 11.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $109.74 million, up 143.33% from the year-ago period.

NVTA's full-year Zacks Consensus Estimates are calling for earnings of -$2.62 per share and revenue of $464.19 million. These results would represent year-over-year changes of +5.76% and +66.67%, respectively.

Investors might also notice 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 2.74% higher. NVTA is currently a Zacks Rank #4 (Sell).

The Medical Info Systems industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 233, which puts it in the bottom 9% 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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