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Hologic (HOLX) Gains As Market Dips: What You Should Know
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Hologic (HOLX - Free Report) closed at $78.34 in the latest trading session, marking a +0.88% move from the prior day. This move outpaced the S&P 500's daily loss of 0.97%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, lost 0.49%.
Coming into today, shares of the medical device maker had gained 11.42% in the past month. In that same time, the Medical sector gained 4.66%, while the S&P 500 gained 4.71%.
Investors will be hoping for strength from Hologic as it approaches its next earnings release, which is expected to be April 27, 2022. The company is expected to report EPS of $1.55, down 40.15% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.28 billion, down 17.07% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.10 per share and revenue of $4.39 billion. These totals would mark changes of -39.36% and -21.97%, respectively, from last year.
Any recent changes to analyst estimates for Hologic should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Hologic currently has a Forward P/E ratio of 15.24. Its industry sports an average Forward P/E of 33.45, so we one might conclude that Hologic is trading at a discount comparatively.
It is also worth noting that HOLX currently has a PEG ratio of 1.19. 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 industry currently had an average PEG ratio of 2.15 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 at $78.34 in the latest trading session, marking a +0.88% move from the prior day. This move outpaced the S&P 500's daily loss of 0.97%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, lost 0.49%.
Coming into today, shares of the medical device maker had gained 11.42% in the past month. In that same time, the Medical sector gained 4.66%, while the S&P 500 gained 4.71%.
Investors will be hoping for strength from Hologic as it approaches its next earnings release, which is expected to be April 27, 2022. The company is expected to report EPS of $1.55, down 40.15% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.28 billion, down 17.07% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.10 per share and revenue of $4.39 billion. These totals would mark changes of -39.36% and -21.97%, respectively, from last year.
Any recent changes to analyst estimates for Hologic should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Hologic currently has a Forward P/E ratio of 15.24. Its industry sports an average Forward P/E of 33.45, so we one might conclude that Hologic is trading at a discount comparatively.
It is also worth noting that HOLX currently has a PEG ratio of 1.19. 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 industry currently had an average PEG ratio of 2.15 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.