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Hologic (HOLX) Stock Sinks As Market Gains: What You Should Know
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Hologic (HOLX - Free Report) closed at $78.96 in the latest trading session, marking a -1.69% move from the prior day. This change lagged the S&P 500's daily gain of 0.39%.
Prior to today's trading, shares of the medical device maker had lost 1.08% over the past month. This has lagged the Medical sector's gain of 0.04% and the S&P 500's gain of 3.16% in that time.
Hologic will be looking to display strength as it nears its next earnings release, which is expected to be July 31, 2023. The company is expected to report EPS of $0.88, down 7.37% from the prior-year quarter. 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 -17.62%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Hologic. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.04% 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 20.64. This represents a discount compared to its industry's average Forward P/E of 32.15.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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
Hologic (HOLX - Free Report) closed at $78.96 in the latest trading session, marking a -1.69% move from the prior day. This change lagged the S&P 500's daily gain of 0.39%.
Prior to today's trading, shares of the medical device maker had lost 1.08% over the past month. This has lagged the Medical sector's gain of 0.04% and the S&P 500's gain of 3.16% in that time.
Hologic will be looking to display strength as it nears its next earnings release, which is expected to be July 31, 2023. The company is expected to report EPS of $0.88, down 7.37% from the prior-year quarter. 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 -17.62%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Hologic. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.04% 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 20.64. This represents a discount compared to its industry's average Forward P/E of 32.15.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.