Hologic (HOLX) Stock Moves -1.17%: What You Should Know
Hologic (HOLX) ended the recent trading session at $70.32, demonstrating a -1.17% swing from the preceding day's closing price. This change was narrower than the S&P 500's daily loss of 1.47%. Meanwhile, the Dow experienced a drop of 1.27%, and the technology-dominated Nasdaq saw a decrease of 1.5%.
Coming into today, shares of the medical device maker had lost 1.06% in the past month. In that same time, the Medical sector gained 5.51%, while the S&P 500 gained 5.77%.
The upcoming earnings release of Hologic will be of great interest to investors. In that report, analysts expect Hologic to post earnings of $0.94 per share. This would mark a year-over-year decline of 12.15%. In the meantime, our current consensus estimate forecasts the revenue to be $978.36 million, indicating an 8.92% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.99 per share and revenue of $3.98 billion. These totals would mark changes of +0.76% and -1.36%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Hologic. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.04% increase. Hologic is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Hologic is currently exchanging hands at a Forward P/E ratio of 17.83. Its industry sports an average Forward P/E of 24.92, so one might conclude that Hologic is trading at a discount comparatively.
We can additionally observe that HOLX currently boasts a PEG ratio of 2.31. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Medical - Instruments industry stood at 2.67 at the close of the market yesterday.
The Medical - Instruments industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 74, finds itself in the top 30% echelons of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Hologic, Inc. (HOLX) : Free Stock Analysis Report
