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Hologic (HOLX) Outpaces Stock Market Gains: What You Should Know
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Hologic (HOLX - Free Report) closed the most recent trading day at $79.10, moving +0.7% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.67%. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 9.29%.
Coming into today, shares of the medical device maker had gained 0.11% in the past month. In that same time, the Medical sector lost 1.19%, while the S&P 500 gained 2.65%.
Hologic will be looking to display strength as it nears its next earnings release, which is expected to be July 31, 2023. In that report, analysts expect Hologic to post earnings of $0.88 per share. This would mark a year-over-year decline of 7.37%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $956.48 million, down 4.61% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.89 per share and revenue of $4.01 billion, which would represent changes of -35.38% and -17.63%, respectively, from the prior year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Hologic is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Hologic's current valuation metrics, including its Forward P/E ratio of 20.19. This represents a discount compared to its industry's average Forward P/E of 32.77.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% 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.
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
Hologic (HOLX - Free Report) closed the most recent trading day at $79.10, moving +0.7% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.67%. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 9.29%.
Coming into today, shares of the medical device maker had gained 0.11% in the past month. In that same time, the Medical sector lost 1.19%, while the S&P 500 gained 2.65%.
Hologic will be looking to display strength as it nears its next earnings release, which is expected to be July 31, 2023. In that report, analysts expect Hologic to post earnings of $0.88 per share. This would mark a year-over-year decline of 7.37%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $956.48 million, down 4.61% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.89 per share and revenue of $4.01 billion, which would represent changes of -35.38% and -17.63%, respectively, from the prior year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Hologic is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Hologic's current valuation metrics, including its Forward P/E ratio of 20.19. This represents a discount compared to its industry's average Forward P/E of 32.77.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.