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Here's Why Hologic (HOLX) Gained But Lagged the Market Today
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Hologic (HOLX - Free Report) closed the most recent trading day at $71.09, moving +0.08% from the previous trading session. This change lagged the S&P 500's 0.27% gain on the day. Meanwhile, the Dow experienced a rise of 0.43%, and the technology-dominated Nasdaq saw an increase of 0.19%.
Shares of the medical device maker have depreciated by 1.36% over the course of the past month, underperforming the Medical sector's gain of 7.01% and the S&P 500's gain of 6.94%.
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 take note of any recent adjustments to analyst estimates for Hologic. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.14% upward. Hologic is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Hologic is holding a Forward P/E ratio of 17.8. This expresses a discount compared to the average Forward P/E of 24 of its industry.
It is also worth noting that HOLX currently has 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. By the end of yesterday's trading, the Medical - Instruments industry had an average PEG ratio of 2.59.
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 71, placing it within the top 29% of over 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Here's Why Hologic (HOLX) Gained But Lagged the Market Today
Hologic (HOLX - Free Report) closed the most recent trading day at $71.09, moving +0.08% from the previous trading session. This change lagged the S&P 500's 0.27% gain on the day. Meanwhile, the Dow experienced a rise of 0.43%, and the technology-dominated Nasdaq saw an increase of 0.19%.
Shares of the medical device maker have depreciated by 1.36% over the course of the past month, underperforming the Medical sector's gain of 7.01% and the S&P 500's gain of 6.94%.
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 take note of any recent adjustments to analyst estimates for Hologic. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.14% upward. Hologic is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Hologic is holding a Forward P/E ratio of 17.8. This expresses a discount compared to the average Forward P/E of 24 of its industry.
It is also worth noting that HOLX currently has 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. By the end of yesterday's trading, the Medical - Instruments industry had an average PEG ratio of 2.59.
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 71, placing it within the top 29% of over 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.