Hologic (HOLX) Dips More Than Broader Markets: What You Should Know
Hologic (HOLX) closed at $68.65 in the latest trading session, marking a -0.77% move from the prior day. This change lagged the S&P 500's daily loss of 0.35%.
Prior to today's trading, shares of the medical device maker had gained 9.13% over the past month. This has outpaced the Medical sector's loss of 3.66% and the S&P 500's gain of 3.36% in that time.
Wall Street will be looking for positivity from HOLX as it approaches its next earnings report date. This is expected to be July 28, 2021. The company is expected to report EPS of $1.12, up 49.33% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.03 billion, up 25.69% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.74 per share and revenue of $5.11 billion. These totals would mark changes of +94.47% and +35.36%, respectively, from last year.
Any recent changes to analyst estimates for HOLX should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.3% lower within the past month. HOLX is currently a Zacks Rank #3 (Hold).
Digging into valuation, HOLX currently has a Forward P/E ratio of 8.94. This valuation marks a discount compared to its industry's average Forward P/E of 43.24.
We can also see that HOLX currently has a PEG ratio of 0.94. 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. HOLX's industry had an average PEG ratio of 3.08 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 198, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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
Hologic, Inc. (HOLX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
