Hologic (HOLX) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Hologic (HOLX) closed at $70.31, marking a -0.55% move from the previous day. This change lagged the S&P 500's 1.05% gain on the day.
Prior to today's trading, shares of the medical device maker had lost 11.9% over the past month. This has lagged the Medical sector's loss of 9.09% and the S&P 500's loss of 5.07% in that time.
Investors will be hoping for strength from HOLX as it approaches its next earnings release. On that day, HOLX is projected to report earnings of $0.97 per share, which would represent a year-over-year decline of 53.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.02 billion, down 24.31% from the year-ago period.
Any recent changes to analyst estimates for HOLX should also be noted by investors. 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 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. HOLX is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, HOLX currently has a Forward P/E ratio of 19.13. This represents a discount compared to its industry's average Forward P/E of 45.29.
We can also see that HOLX currently has a PEG ratio of 1.28. 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 Medical - Instruments industry currently had an average PEG ratio of 2.99 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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.
To follow HOLX in the coming trading sessions, be sure to utilize Zacks.com.
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