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Hologic (HOLX) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Hologic (HOLX - Free Report) closed at $63.83, marking a -0.79% move from the previous day. This move lagged the S&P 500's daily gain of 1.14%. At the same time, the Dow added 1.12%, and the tech-heavy Nasdaq lost 0.02%.
Investors will be hoping for strength from Hologic as it approaches its next earnings release, which is expected to be October 31, 2022. On that day, Hologic is projected to report earnings of $0.62 per share, which would represent a year-over-year decline of 61.49%. Meanwhile, our latest consensus estimate is calling for revenue of $866.83 million, down 34.16% from the prior-year quarter.
Any recent changes to analyst estimates for Hologic should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.02% lower. Hologic is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Hologic's current valuation metrics, including its Forward P/E ratio of 18.64. This valuation marks a discount compared to its industry's average Forward P/E of 26.22.
We can also see that HOLX currently has a PEG ratio of 1.23. 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. HOLX's industry had an average PEG ratio of 1.83 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 137, putting it in the bottom 46% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Hologic (HOLX) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Hologic (HOLX - Free Report) closed at $63.83, marking a -0.79% move from the previous day. This move lagged the S&P 500's daily gain of 1.14%. At the same time, the Dow added 1.12%, and the tech-heavy Nasdaq lost 0.02%.
Investors will be hoping for strength from Hologic as it approaches its next earnings release, which is expected to be October 31, 2022. On that day, Hologic is projected to report earnings of $0.62 per share, which would represent a year-over-year decline of 61.49%. Meanwhile, our latest consensus estimate is calling for revenue of $866.83 million, down 34.16% from the prior-year quarter.
Any recent changes to analyst estimates for Hologic should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.02% lower. Hologic is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Hologic's current valuation metrics, including its Forward P/E ratio of 18.64. This valuation marks a discount compared to its industry's average Forward P/E of 26.22.
We can also see that HOLX currently has a PEG ratio of 1.23. 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. HOLX's industry had an average PEG ratio of 1.83 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 137, putting it in the bottom 46% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.