We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Hologic (HOLX) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
Hologic (HOLX - Free Report) closed the most recent trading day at $85.63, moving +1.87% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.09%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 4.87%.
Heading into today, shares of the medical device maker had gained 6.14% over the past month, outpacing the Medical sector's gain of 4.96% and the S&P 500's gain of 3.31% in that time.
Wall Street will be looking for positivity from Hologic as it approaches its next earnings report date. This is expected to be May 1, 2023. In that report, analysts expect Hologic to post earnings of $0.88 per share. This would mark a year-over-year decline of 57.49%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $967.05 million, down 32.64% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.74 per share and revenue of $3.97 billion. These totals would mark changes of -37.87% and -18.43%, respectively, from last year.
Any recent changes to analyst estimates for Hologic should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 22.45. Its industry sports an average Forward P/E of 25.17, so we one might conclude that Hologic is trading at a discount comparatively.
Meanwhile, HOLX's PEG ratio is currently 1.48. 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 industry currently had an average PEG ratio of 2 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 44% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Hologic (HOLX) Outpaces Stock Market Gains: What You Should Know
Hologic (HOLX - Free Report) closed the most recent trading day at $85.63, moving +1.87% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.09%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 4.87%.
Heading into today, shares of the medical device maker had gained 6.14% over the past month, outpacing the Medical sector's gain of 4.96% and the S&P 500's gain of 3.31% in that time.
Wall Street will be looking for positivity from Hologic as it approaches its next earnings report date. This is expected to be May 1, 2023. In that report, analysts expect Hologic to post earnings of $0.88 per share. This would mark a year-over-year decline of 57.49%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $967.05 million, down 32.64% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.74 per share and revenue of $3.97 billion. These totals would mark changes of -37.87% and -18.43%, respectively, from last year.
Any recent changes to analyst estimates for Hologic should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 22.45. Its industry sports an average Forward P/E of 25.17, so we one might conclude that Hologic is trading at a discount comparatively.
Meanwhile, HOLX's PEG ratio is currently 1.48. 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 industry currently had an average PEG ratio of 2 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 44% 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.