Pacific Biosciences of California, Inc.’s PACB reported fourth-quarter 2020 adjusted earnings per share (EPS) of 37 cents. The company reported break-even results in the year-ago quarter. The Zacks Consensus Estimate was pegged at 43 cents per share.For 2020, EPS came in at 17 cents, in line with the Zacks Consensus Estimate. The company reported a loss of 55 cents per share in the year-ago period.RevenuesFor the fourth quarter, revenues totaled $27.1 million, which missed the Zacks Consensus Estimate by a marginal 0.4% and also fell 2.9% from the year-ago quarter’s tally.For 2020, revenues logged $78.9 million in line with the Zacks Consensus Estimate. Meanwhile, the topline dropped 13.2% year over year.Segmental AnalysisProduct Revenues amounted to $23.6 million, down 4.1% from the prior-year quarter.Service and Other Revenues came in at $3.5 million, up 2.9% year over year.MarginsGross profit in the fourth quarter was $11.4 million, down 11.8% year over year. Gross margin was 42% of total revenues, contracting 429 basis points.Operating expenses totaled $35.4 million, up 14.7% year over year.Operating loss came in at $23.9 million, wider than the year-ago quarter’s loss of $17.9 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. Quote Cash PositionThe company exited the fourth quarter with cash, cash equivalents and investments excluding restricted cash of $318.8 million compared with $49.1 million at the end of the year-ago period.Our TakePacific Biosciences ended the fourth quarter of 2020 on a weak note. Nonetheless, the company saw an increase in its Service and other revenues during the quarter. It continues to gain from its flagship Sequel system. The recent launch of the Sequel IIe System and collaboration with Asuragen buoy optimism on the stock. Additionally, the company received termination fees from Illumina, which got reflected in the earnings results. It inked a multi-year collaboration deal with Invitae Corporation to start developing a production-scale high-throughput sequencing platform utilizing the power of its highly accurate HiFi sequencing to widen the scope of Invitae’s whole genome testing capabilities.However, Pacific Biosciences saw a decline in its Product revenues. Gross margin contraction and a year-over-year wider operating loss were seen in the quarter.Zacks Rank and Key PicksPacific Biosciences currently carries a Zacks Rank #4 (Sell).Some better-ranked stocks in the broader medical space that already announced quarterly results are Hologic, Inc. HOLX, Abbott Laboratories ABT and AngioDynamics, Inc. ANGO. While Hologic sports a Zacks Rank #1 (Strong Buy), the other two presently carry a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.Hologic reported first-quarter fiscal 2021 adjusted EPS of $2.86, which surpassed the Zacks Consensus Estimate by 33.6%.Abbott reported fourth-quarter 2020 adjusted EPS of $1.45, which surpassed the Zacks Consensus Estimate by 6.6%. Further, fourth-quarter worldwide sales of $10.7 billion outpaced the consensus mark by 7.9%.AngioDynamics reported second-quarter fiscal 2021 adjusted EPS of a penny. The Zacks Consensus Estimate was of a loss per share of a couple ofcents. Additionally, revenues of $72.8 million beat the consensus mark by 8%.+1,500% Growth: One of 2021’s Most Exciting Investment OpportunitiesIn addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.Click here to download this report FREE >> 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 AngioDynamics, Inc. (ANGO): Free Stock Analysis Report Hologic, Inc. (HOLX): Free Stock Analysis Report Abbott Laboratories (ABT): Free Stock Analysis Report Pacific Biosciences of California, Inc. (PACB): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research