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Hologic (HOLX) Gains As Market Dips: What You Should Know
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In the latest trading session, Hologic (HOLX - Free Report) closed at $81.70, marking a +0.13% move from the previous day. This move outpaced the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, added 5.44%.
Coming into today, shares of the medical device maker had gained 7.71% in the past month. In that same time, the Medical sector lost 0.87%, while the S&P 500 gained 4.57%.
Investors will be hoping for strength from Hologic as it approaches its next earnings release, which is expected to be February 1, 2023. On that day, Hologic is projected to report earnings of $0.90 per share, which would represent a year-over-year decline of 58.53%. Our most recent consensus estimate is calling for quarterly revenue of $980.98 million, down 33.32% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.49 per share and revenue of $3.83 billion, which would represent changes of -42.03% and -21.21%, respectively, from the prior year.
Investors should also note any 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.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.74% higher. Hologic is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Hologic is holding a Forward P/E ratio of 23.38. For comparison, its industry has an average Forward P/E of 29.07, which means Hologic is trading at a discount to the group.
We can also see that HOLX currently has a PEG ratio of 1.54. 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 industry currently had an average PEG ratio of 2.27 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Hologic (HOLX) Gains As Market Dips: What You Should Know
In the latest trading session, Hologic (HOLX - Free Report) closed at $81.70, marking a +0.13% move from the previous day. This move outpaced the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, added 5.44%.
Coming into today, shares of the medical device maker had gained 7.71% in the past month. In that same time, the Medical sector lost 0.87%, while the S&P 500 gained 4.57%.
Investors will be hoping for strength from Hologic as it approaches its next earnings release, which is expected to be February 1, 2023. On that day, Hologic is projected to report earnings of $0.90 per share, which would represent a year-over-year decline of 58.53%. Our most recent consensus estimate is calling for quarterly revenue of $980.98 million, down 33.32% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.49 per share and revenue of $3.83 billion, which would represent changes of -42.03% and -21.21%, respectively, from the prior year.
Investors should also note any 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.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.74% higher. Hologic is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Hologic is holding a Forward P/E ratio of 23.38. For comparison, its industry has an average Forward P/E of 29.07, which means Hologic is trading at a discount to the group.
We can also see that HOLX currently has a PEG ratio of 1.54. 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 industry currently had an average PEG ratio of 2.27 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.