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Hologic (HOLX) Gains As Market Dips: What You Should Know
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Hologic (HOLX - Free Report) closed at $71.46 in the latest trading session, marking a +0.75% move from the prior day. This move outpaced the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the medical device maker had lost 8.43% in the past month. In that same time, the Medical sector lost 0.32%, while the S&P 500 lost 0.62%.
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 $0.69 per share, which would represent a year-over-year decline of 48.12%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $896.2 million, down 23.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.54 per share and revenue of $4.67 billion, which would represent changes of -34.13% and -17.14%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Hologic. These revisions help to show the ever-changing nature of near-term business trends. 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. 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 remained stagnant within the past month. Hologic currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Hologic currently has a Forward P/E ratio of 12.8. Its industry sports an average Forward P/E of 27.5, so we one might conclude that Hologic is trading at a discount comparatively.
Investors should also note that HOLX has a PEG ratio of 0.89 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Instruments industry currently had an average PEG ratio of 1.93 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 35% 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 at $71.46 in the latest trading session, marking a +0.75% move from the prior day. This move outpaced the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the medical device maker had lost 8.43% in the past month. In that same time, the Medical sector lost 0.32%, while the S&P 500 lost 0.62%.
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 $0.69 per share, which would represent a year-over-year decline of 48.12%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $896.2 million, down 23.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.54 per share and revenue of $4.67 billion, which would represent changes of -34.13% and -17.14%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Hologic. These revisions help to show the ever-changing nature of near-term business trends. 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. 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 remained stagnant within the past month. Hologic currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Hologic currently has a Forward P/E ratio of 12.8. Its industry sports an average Forward P/E of 27.5, so we one might conclude that Hologic is trading at a discount comparatively.
Investors should also note that HOLX has a PEG ratio of 0.89 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Instruments industry currently had an average PEG ratio of 1.93 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 35% 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.