Hologic closed the most recent trading day at $74.91, moving +1.37% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.17%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 0.31%.
Prior to today's trading, shares of the medical device maker had gained 5.75% over the past month. This has outpaced the Medical sector's gain of 4.32% and the S&P 500's gain of 0.88% in that time.
Investors will be hoping for strength from Hologic as it approaches its next earnings release. On that day, Hologic is projected to report earnings of $1.55 per share, which would represent a year-over-year decline of 40.15%. Meanwhile, our latest consensus estimate is calling for revenue of $1.28 billion, down 17.07% from the prior-year quarter.
HOLX's full-year Zacks Consensus Estimates are calling for earnings of $5.10 per share and revenue of $4.39 billion. These results would represent year-over-year changes of -39.36% and -21.97%, respectively.
Any recent changes to analyst estimates for Hologic should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Hologic is currently a Zacks Rank #3 (Hold).
Digging into valuation, Hologic currently has a Forward P/E ratio of 14.5. For comparison, its industry has an average Forward P/E of 33.44, which means Hologic is trading at a discount to the group.
It is also worth noting that HOLX currently has a PEG ratio of 1.13. 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. HOLX's industry had an average PEG ratio of 2.13 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 36% 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.
View the Zacks #1 Rank List
Image: Bigstock
Hologic (HOLX) Outpaces Stock Market Gains: What You Should Know
Hologic closed the most recent trading day at $74.91, moving +1.37% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.17%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 0.31%.
Prior to today's trading, shares of the medical device maker had gained 5.75% over the past month. This has outpaced the Medical sector's gain of 4.32% and the S&P 500's gain of 0.88% in that time.
Investors will be hoping for strength from Hologic as it approaches its next earnings release. On that day, Hologic is projected to report earnings of $1.55 per share, which would represent a year-over-year decline of 40.15%. Meanwhile, our latest consensus estimate is calling for revenue of $1.28 billion, down 17.07% from the prior-year quarter.
HOLX's full-year Zacks Consensus Estimates are calling for earnings of $5.10 per share and revenue of $4.39 billion. These results would represent year-over-year changes of -39.36% and -21.97%, respectively.
Any recent changes to analyst estimates for Hologic should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Hologic is currently a Zacks Rank #3 (Hold).
Digging into valuation, Hologic currently has a Forward P/E ratio of 14.5. For comparison, its industry has an average Forward P/E of 33.44, which means Hologic is trading at a discount to the group.
It is also worth noting that HOLX currently has a PEG ratio of 1.13. 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. HOLX's industry had an average PEG ratio of 2.13 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 36% 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.