Hologic (HOLX) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Hologic (HOLX) closed at $68.87, marking a -0.76% move from the previous day. This change lagged the S&P 500's daily gain of 0.01%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 0.67%.
Prior to today's trading, shares of the medical device maker had lost 7.61% over the past month. This has lagged the Medical sector's loss of 4.56% and the S&P 500's loss of 4.45% in that time.
Wall Street will be looking for positivity from Hologic as it approaches its next earnings report date. On that day, Hologic is projected to report earnings of $0.85 per share, which would represent year-over-year growth of 3.66%. Meanwhile, our latest consensus estimate is calling for revenue of $941.83 million, down 1.2% from the prior-year quarter.
Any recent changes to analyst estimates for Hologic should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant within the past month. Hologic is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Hologic's current valuation metrics, including its Forward P/E ratio of 17.7. For comparison, its industry has an average Forward P/E of 25.41, which means Hologic is trading at a discount to the group.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 41% 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.
To follow HOLX in the coming trading sessions, be sure to utilize Zacks.com.
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Hologic, Inc. (HOLX) : Free Stock Analysis Report
