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Hologic (HOLX) Stock Moves -0.68%: What You Should Know

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Hologic (HOLX - Free Report) closed at $77.18 in the latest trading session, marking a -0.68% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.14%. Meanwhile, the Dow lost 1.23%, and the Nasdaq, a tech-heavy index, lost 0.36%.

Coming into today, shares of the medical device maker had gained 3.16% in the past month. In that same time, the Medical sector lost 0.74%, while the S&P 500 lost 1.37%.

Investors will be hoping for strength from Hologic as it approaches its next earnings release. The company is expected to report EPS of $1.17, down 59.09% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.08 billion, down 32.79% from the prior-year quarter.

HOLX's full-year Zacks Consensus Estimates are calling for earnings of $3.70 per share and revenue of $3.9 billion. These results would represent year-over-year changes of -56% and -30.79%, respectively.

It is also important to note the recent changes to analyst estimates for Hologic. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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 remained stagnant. Hologic currently has a Zacks Rank of #3 (Hold).

Digging into valuation, Hologic currently has a Forward P/E ratio of 21. For comparison, its industry has an average Forward P/E of 40.49, which means Hologic is trading at a discount to the group.

Meanwhile, HOLX's PEG ratio is currently 1.62. 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. Medical - Instruments stocks are, on average, holding a PEG ratio of 2.97 based on yesterday's closing prices.

The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% 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.

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

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