Hologic (HOLX) Ascends While Market Falls: Some Facts to Note
In the latest market close, Hologic (HOLX) reached $75.65, with a +0.52% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.31%. Meanwhile, the Dow experienced a drop of 0.41%, and the technology-dominated Nasdaq saw a decrease of 0.27%.
Shares of the medical device maker witnessed a loss of 1.17% over the previous month, trailing the performance of the Medical sector with its loss of 0.57% and the S&P 500's gain of 3.05%.
Market participants will be closely following the financial results of Hologic in its upcoming release. It is anticipated that the company will report an EPS of $0.98, marking a 7.55% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1 billion, showing a 2.49% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.02 per share and a revenue of $4.02 billion, signifying shifts of +1.52% and -0.19%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Hologic. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.15% fall in the Zacks Consensus EPS estimate. At present, Hologic boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Hologic is presently trading at a Forward P/E ratio of 18.74. This indicates a discount in contrast to its industry's Forward P/E of 27.09.
We can also see that HOLX currently has a PEG ratio of 2.55. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Medical - Instruments stocks are, on average, holding a PEG ratio of 2.29 based on yesterday's closing prices.
The Medical - Instruments industry is part of the Medical sector. With its current Zacks Industry Rank of 72, this industry ranks in the top 29% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Hologic, Inc. (HOLX) : Free Stock Analysis Report
