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

Zacks Equity Research
·2-min read

Invitae (NVTA) closed the most recent trading day at $26.25, moving +1.86% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.16%. Meanwhile, the Dow lost 0.43%, and the Nasdaq, a tech-heavy index, lost 0.14%.

Prior to today's trading, shares of the genetic testing company had gained 31.61% over the past month. This has outpaced the Medical sector's gain of 1.82% and the S&P 500's gain of 3.63% in that time.

Investors will be hoping for strength from NVTA as it approaches its next earnings release, which is expected to be February 19, 2020. The company is expected to report EPS of -$0.60, down 50% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $68.78 million, up 51.64% from the year-ago period.

Investors should also note any recent changes to analyst estimates for NVTA. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 4.57% higher. NVTA is currently sporting a Zacks Rank of #3 (Hold).

The Medical Info Systems industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 29% 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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Zacks Investment Research