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Hologic (HOLX) Outperforms Broader Market: What You Need to Know

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Hologic (HOLX - Free Report) closed the latest trading day at $74.53, indicating a +0.58% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.1%. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, added 0.28%.

Shares of the medical device maker have depreciated by 0.55% over the course of the past month, underperforming the Medical sector's loss of 0.44% and the S&P 500's gain of 4.08%.

Analysts and investors alike will be keeping a close eye on the performance of Hologic in its upcoming earnings disclosure. The company's earnings report is set to go public on July 29, 2024. It is anticipated that the company will report an EPS of $1.02, marking a 9.68% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1 billion, up 1.66% from the year-ago period.

For the full year, the Zacks Consensus Estimates are projecting earnings of $4.08 per share and revenue of $4.04 billion, which would represent changes of +3.03% and +0.13%, respectively, from the prior year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Hologic. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Hologic boasts a Zacks Rank of #2 (Buy).

With respect to valuation, Hologic is currently being traded at a Forward P/E ratio of 18.16. This denotes a discount relative to the industry's average Forward P/E of 24.4.

It's also important to note that HOLX currently trades at a PEG ratio of 2.47. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Instruments was holding an average PEG ratio of 2.47 at yesterday's closing price.

The Medical - Instruments industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 159, positioning it in the bottom 37% 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.


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