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Hologic (HOLX) Stock Moves -0.2%: What You Should Know

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In the latest trading session, Hologic (HOLX - Free Report) closed at $78.76, marking a -0.2% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 10.92%.

Prior to today's trading, shares of the medical device maker had gained 4.64% over the past month. This has outpaced the Medical sector's loss of 0.24% and the S&P 500's gain of 2.18% in that time.

Hologic will be looking to display strength as it nears its next earnings release, which is expected to be February 1, 2023. In that report, analysts expect Hologic to post earnings of $0.88 per share. This would mark a year-over-year decline of 59.45%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $980.98 million, down 33.32% from the year-ago period.

HOLX's full-year Zacks Consensus Estimates are calling for earnings of $3.48 per share and revenue of $3.83 billion. These results would represent year-over-year changes of -42.19% and -21.21%, respectively.

It is also important to note the recent changes to analyst estimates for Hologic. These revisions help to show the ever-changing nature of near-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. Within the past 30 days, our consensus EPS projection has moved 0.38% higher. Hologic is holding a Zacks Rank of #2 (Buy) right now.

Digging into valuation, Hologic currently has a Forward P/E ratio of 22.69. This represents a discount compared to its industry's average Forward P/E of 28.65.

Meanwhile, HOLX's PEG ratio is currently 1.49. 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 was holding an average PEG ratio of 2.22 at yesterday's closing price.

The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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