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Hologic (HOLX) Gains But Lags Market: What You Should Know
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Hologic (HOLX - Free Report) closed the most recent trading day at $81.49, moving +0.07% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.37%. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq lost 1.26%.
Coming into today, shares of the medical device maker had gained 2.27% in the past month. In that same time, the Medical sector gained 0.08%, while the S&P 500 gained 4.31%.
Hologic will be looking to display strength as it nears its next earnings release. On that day, Hologic is projected to report earnings of $0.88 per share, which would represent a year-over-year decline of 7.37%. Meanwhile, our latest consensus estimate is calling for revenue of $956.48 million, down 4.61% from the prior-year quarter.
HOLX's full-year Zacks Consensus Estimates are calling for earnings of $3.89 per share and revenue of $4.01 billion. These results would represent year-over-year changes of -35.38% and -17.63%, respectively.
Investors should also note any recent changes to analyst estimates for Hologic. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Hologic is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Hologic is holding a Forward P/E ratio of 20.93. This represents a discount compared to its industry's average Forward P/E of 29.06.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 117, which puts it in the top 47% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Hologic (HOLX) Gains But Lags Market: What You Should Know
Hologic (HOLX - Free Report) closed the most recent trading day at $81.49, moving +0.07% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.37%. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq lost 1.26%.
Coming into today, shares of the medical device maker had gained 2.27% in the past month. In that same time, the Medical sector gained 0.08%, while the S&P 500 gained 4.31%.
Hologic will be looking to display strength as it nears its next earnings release. On that day, Hologic is projected to report earnings of $0.88 per share, which would represent a year-over-year decline of 7.37%. Meanwhile, our latest consensus estimate is calling for revenue of $956.48 million, down 4.61% from the prior-year quarter.
HOLX's full-year Zacks Consensus Estimates are calling for earnings of $3.89 per share and revenue of $4.01 billion. These results would represent year-over-year changes of -35.38% and -17.63%, respectively.
Investors should also note any recent changes to analyst estimates for Hologic. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Hologic is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Hologic is holding a Forward P/E ratio of 20.93. This represents a discount compared to its industry's average Forward P/E of 29.06.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 117, which puts it in the top 47% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.