Hologic (HOLX) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, Hologic (HOLX) closed at $72.46, marking a +1.41% move from the previous day. This change outpaced the S&P 500's 0.57% loss on the day. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq lost 1.64%.
The medical device maker's shares have seen an increase of 1.23% over the last month, not keeping up with the Medical sector's gain of 4.53% and the S&P 500's gain of 4%.
Analysts and investors alike will be keeping a close eye on the performance of Hologic in its upcoming earnings disclosure. On that day, Hologic is projected to report earnings of $0.94 per share, which would represent a year-over-year decline of 12.15%. At the same time, our most recent consensus estimate is projecting a revenue of $978.36 million, reflecting an 8.92% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.99 per share and a revenue of $3.98 billion, indicating changes of +0.76% and -1.36%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Hologic. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Hologic currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Hologic is holding a Forward P/E ratio of 17.91. This represents a discount compared to its industry's average Forward P/E of 27.25.
Investors should also note that HOLX has a PEG ratio of 2.32 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical - Instruments industry currently had an average PEG ratio of 2.4 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. With its current Zacks Industry Rank of 87, this industry ranks in the top 35% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Hologic, Inc. (HOLX) : Free Stock Analysis Report
