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

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Invitae (NVTA) closed the most recent trading day at $34.45, moving -0.61% from the previous trading session. This change lagged the S&P 500’s 1.66% gain on the day. At the same time, the Dow added 1.39%, and the tech-heavy Nasdaq gained 1.24%.

Heading into today, shares of the genetic testing company had lost 12.92% over the past month, lagging the Medical sector’s loss of 1.26% and the S&P 500’s gain of 1.91% 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 -$0.58 per share, which would represent year-over-year growth of 27.5%. Meanwhile, our latest consensus estimate is calling for revenue of $103.16 million, up 60.56% from the prior-year quarter.

NVTA’s full-year Zacks Consensus Estimates are calling for earnings of -$2.22 per share and revenue of $469.56 million. These results would represent year-over-year changes of +20.14% and +68.6%, respectively.

It is also important to note the recent changes to analyst estimates for NVTA. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

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 remained stagnant. NVTA is holding a Zacks Rank of #4 (Sell) right now.

The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 28% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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