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Hologic (HOLX) Gains But Lags Market: What You Should Know
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In the latest trading session, Hologic (HOLX - Free Report) closed at $76.28, marking a +1.46% move from the previous day. This change lagged the S&P 500's 1.61% gain on the day. At the same time, the Dow added 1.45%, and the tech-heavy Nasdaq gained 0.36%.
Heading into today, shares of the medical device maker had lost 0.8% over the past month, outpacing the Medical sector's loss of 0.95% and the S&P 500's loss of 1.42% in that time.
Hologic will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2022. 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, the Zacks Consensus Estimate for revenue is projecting net sales of $1.28 billion, down 17.07% from the year-ago period.
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.
Investors should also note any recent changes to analyst estimates for Hologic. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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 has moved 0.03% higher. Hologic is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Hologic currently has a Forward P/E ratio of 14.75. This represents a discount compared to its industry's average Forward P/E of 31.14.
It is also worth noting that HOLX currently has a PEG ratio of 1.15. 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 2.07 at yesterday's closing price.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Hologic (HOLX) Gains But Lags Market: What You Should Know
In the latest trading session, Hologic (HOLX - Free Report) closed at $76.28, marking a +1.46% move from the previous day. This change lagged the S&P 500's 1.61% gain on the day. At the same time, the Dow added 1.45%, and the tech-heavy Nasdaq gained 0.36%.
Heading into today, shares of the medical device maker had lost 0.8% over the past month, outpacing the Medical sector's loss of 0.95% and the S&P 500's loss of 1.42% in that time.
Hologic will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2022. 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, the Zacks Consensus Estimate for revenue is projecting net sales of $1.28 billion, down 17.07% from the year-ago period.
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.
Investors should also note any recent changes to analyst estimates for Hologic. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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 has moved 0.03% higher. Hologic is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Hologic currently has a Forward P/E ratio of 14.75. This represents a discount compared to its industry's average Forward P/E of 31.14.
It is also worth noting that HOLX currently has a PEG ratio of 1.15. 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 2.07 at yesterday's closing price.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.