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Hologic (HOLX) Gains But Lags Market: What You Should Know
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Hologic (HOLX - Free Report) closed the most recent trading day at $80.11, moving +0.31% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.4%. Meanwhile, the Dow experienced a rise of 0.62%, and the technology-dominated Nasdaq saw an increase of 0.6%.
Heading into today, shares of the medical device maker had lost 0.65% over the past month, outpacing the Medical sector's loss of 2.27% and lagging the S&P 500's gain of 1.71% in that time.
The investment community will be closely monitoring the performance of Hologic in its forthcoming earnings report. The company is forecasted to report an EPS of $1.02, showcasing a 14.61% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $978.92 million, indicating a 3.56% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.09 per share and a revenue of $4.02 billion, representing changes of +3.28% and -0.23%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Hologic. 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.09% increase. Hologic is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Hologic is currently exchanging hands at a Forward P/E ratio of 19.52. This expresses a discount compared to the average Forward P/E of 26.87 of its industry.
Also, we should mention that HOLX has a PEG ratio of 2.53. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. HOLX's industry had an average PEG ratio of 2.24 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 62, placing it within the top 25% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Hologic (HOLX) Gains But Lags Market: What You Should Know
Hologic (HOLX - Free Report) closed the most recent trading day at $80.11, moving +0.31% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.4%. Meanwhile, the Dow experienced a rise of 0.62%, and the technology-dominated Nasdaq saw an increase of 0.6%.
Heading into today, shares of the medical device maker had lost 0.65% over the past month, outpacing the Medical sector's loss of 2.27% and lagging the S&P 500's gain of 1.71% in that time.
The investment community will be closely monitoring the performance of Hologic in its forthcoming earnings report. The company is forecasted to report an EPS of $1.02, showcasing a 14.61% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $978.92 million, indicating a 3.56% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.09 per share and a revenue of $4.02 billion, representing changes of +3.28% and -0.23%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Hologic. 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.09% increase. Hologic is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Hologic is currently exchanging hands at a Forward P/E ratio of 19.52. This expresses a discount compared to the average Forward P/E of 26.87 of its industry.
Also, we should mention that HOLX has a PEG ratio of 2.53. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. HOLX's industry had an average PEG ratio of 2.24 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 62, placing it within the top 25% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.