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Hologic (HOLX) Gains As Market Dips: What You Should Know

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Hologic (HOLX - Free Report) closed the most recent trading day at $76.68, moving +0.03% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.53%.

Prior to today's trading, shares of the medical device maker had gained 8.28% over the past month. This has outpaced the Medical sector's loss of 1.91% and the S&P 500's gain of 5.72% in that time.

HOLX will be looking to display strength as it nears its next earnings release, which is expected to be April 28, 2021. The company is expected to report EPS of $2.62, up 359.65% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.54 billion, up 103.53% from the year-ago period.

HOLX's full-year Zacks Consensus Estimates are calling for earnings of $8.92 per share and revenue of $5.74 billion. These results would represent year-over-year changes of +124.12% and +52.01%, respectively.

Investors should also note any recent changes to analyst estimates for HOLX. 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.

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 moved 0.95% higher. HOLX is currently a Zacks Rank #3 (Hold).

Investors should also note HOLX's current valuation metrics, including its Forward P/E ratio of 8.59. This represents a discount compared to its industry's average Forward P/E of 43.5.

Investors should also note that HOLX has a PEG ratio of 0.56 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Instruments was holding an average PEG ratio of 3.21 at yesterday's closing price.

The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% 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.

To follow HOLX in the coming trading sessions, be sure to utilize Zacks.com.


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