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Hologic (HOLX) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Hologic (HOLX - Free Report) closed at $79.61, marking a +0.52% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.17%. Elsewhere, the Dow gained 0.6%, while the tech-heavy Nasdaq added 0.67%.
Heading into today, shares of the medical device maker had lost 1.12% over the past month, lagging the Medical sector's gain of 0.23% and the S&P 500's gain of 0.25% in that time.
Investors will be hoping for strength from Hologic as it approaches its next earnings release. The company is expected to report EPS of $0.88, down 57.49% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $967.05 million, down 32.64% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.74 per share and revenue of $3.97 billion, which would represent changes of -37.87% and -18.41%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.25% higher. Hologic is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Hologic is holding a Forward P/E ratio of 21.15. This valuation marks a discount compared to its industry's average Forward P/E of 24.84.
It is also worth noting that HOLX currently has a PEG ratio of 1.39. 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 was holding an average PEG ratio of 2.09 at yesterday's closing price.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Hologic (HOLX - Free Report) closed at $79.61, marking a +0.52% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.17%. Elsewhere, the Dow gained 0.6%, while the tech-heavy Nasdaq added 0.67%.
Heading into today, shares of the medical device maker had lost 1.12% over the past month, lagging the Medical sector's gain of 0.23% and the S&P 500's gain of 0.25% in that time.
Investors will be hoping for strength from Hologic as it approaches its next earnings release. The company is expected to report EPS of $0.88, down 57.49% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $967.05 million, down 32.64% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.74 per share and revenue of $3.97 billion, which would represent changes of -37.87% and -18.41%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.25% higher. Hologic is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Hologic is holding a Forward P/E ratio of 21.15. This valuation marks a discount compared to its industry's average Forward P/E of 24.84.
It is also worth noting that HOLX currently has a PEG ratio of 1.39. 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 was holding an average PEG ratio of 2.09 at yesterday's closing price.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% 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.