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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 $70.37, moving +1.19% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.59%.
Heading into today, shares of the medical device maker had gained 11.07% over the past month, outpacing the Medical sector's loss of 4.1% and the S&P 500's gain of 2.53% in that time.
Investors will be hoping for strength from HOLX as it approaches its next earnings release, which is expected to be July 28, 2021. The company is expected to report EPS of $1.12, up 49.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.03 billion, up 25.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.72 per share and revenue of $5.21 billion. These totals would mark changes of +93.97% and +38.05%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for HOLX. These recent revisions tend to reflect the evolving nature of short-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.5% lower within the past month. HOLX currently has a Zacks Rank of #3 (Hold).
In terms of valuation, HOLX is currently trading at a Forward P/E ratio of 9. This valuation marks a discount compared to its industry's average Forward P/E of 44.49.
It is also worth noting that HOLX currently has a PEG ratio of 0.94. 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 3.08 at yesterday's closing price.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 16% 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.
To follow HOLX in the coming trading sessions, be sure to utilize Zacks.com.
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Hologic (HOLX) Gains As Market Dips: What You Should Know
Hologic (HOLX - Free Report) closed the most recent trading day at $70.37, moving +1.19% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.59%.
Heading into today, shares of the medical device maker had gained 11.07% over the past month, outpacing the Medical sector's loss of 4.1% and the S&P 500's gain of 2.53% in that time.
Investors will be hoping for strength from HOLX as it approaches its next earnings release, which is expected to be July 28, 2021. The company is expected to report EPS of $1.12, up 49.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.03 billion, up 25.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.72 per share and revenue of $5.21 billion. These totals would mark changes of +93.97% and +38.05%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for HOLX. These recent revisions tend to reflect the evolving nature of short-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.5% lower within the past month. HOLX currently has a Zacks Rank of #3 (Hold).
In terms of valuation, HOLX is currently trading at a Forward P/E ratio of 9. This valuation marks a discount compared to its industry's average Forward P/E of 44.49.
It is also worth noting that HOLX currently has a PEG ratio of 0.94. 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 3.08 at yesterday's closing price.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 16% 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.
To follow HOLX in the coming trading sessions, be sure to utilize Zacks.com.