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Hologic (HOLX) Stock Sinks As Market Gains: What You Should Know

Hologic (HOLX) closed the most recent trading day at $67.99, moving -0.04% from the previous trading session. This move lagged the S&P 500's daily gain of 0.34%. Elsewhere, the Dow gained 0.1%, while the tech-heavy Nasdaq lost 0.05%.

Prior to today's trading, shares of the medical device maker had lost 6.63% over the past month. This has lagged the Medical sector's loss of 5.59% and was narrower than the S&P 500's loss of 7.95% in that time.

Wall Street will be looking for positivity from Hologic as it approaches its next earnings report date. In that report, analysts expect Hologic to post earnings of $0.62 per share. This would mark a year-over-year decline of 61.49%. Our most recent consensus estimate is calling for quarterly revenue of $866.83 million, down 34.16% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $5.82 per share and revenue of $4.78 billion, which would represent changes of -30.8% and -15.2%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Hologic. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection remained stagnant. Hologic is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, Hologic currently has a Forward P/E ratio of 11.69. This represents a discount compared to its industry's average Forward P/E of 28.39.

We can also see that HOLX currently has a PEG ratio of 0.77. 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. The Medical - Instruments was holding an average PEG ratio of 2.06 at yesterday's closing price.

The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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