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Hologic (HOLX) Ascends But Remains Behind Market: Some Facts to Note
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Hologic (HOLX - Free Report) closed at $69.22 in the latest trading session, marking a +0.35% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 1.06%. On the other hand, the Dow registered a gain of 0.93%, and the technology-centric Nasdaq increased by 1.2%.
The medical device maker's stock has dropped by 3.94% in the past month, falling short of the Medical sector's loss of 3.74% and the S&P 500's loss of 3%.
The investment community will be closely monitoring the performance of Hologic in its forthcoming earnings report. The company is scheduled to release its earnings on November 9, 2023. It is anticipated that the company will report an EPS of $0.85, marking a 3.66% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $941.83 million, indicating a 1.2% decline compared to the corresponding quarter of the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Hologic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.79% lower. Hologic currently has a Zacks Rank of #4 (Sell).
From a valuation perspective, Hologic is currently exchanging hands at a Forward P/E ratio of 17.42. This indicates a discount in contrast to its industry's Forward P/E of 24.24.
The Medical - Instruments industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 103, positioning it in the top 41% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.
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Hologic (HOLX) Ascends But Remains Behind Market: Some Facts to Note
Hologic (HOLX - Free Report) closed at $69.22 in the latest trading session, marking a +0.35% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 1.06%. On the other hand, the Dow registered a gain of 0.93%, and the technology-centric Nasdaq increased by 1.2%.
The medical device maker's stock has dropped by 3.94% in the past month, falling short of the Medical sector's loss of 3.74% and the S&P 500's loss of 3%.
The investment community will be closely monitoring the performance of Hologic in its forthcoming earnings report. The company is scheduled to release its earnings on November 9, 2023. It is anticipated that the company will report an EPS of $0.85, marking a 3.66% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $941.83 million, indicating a 1.2% decline compared to the corresponding quarter of the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Hologic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.79% lower. Hologic currently has a Zacks Rank of #4 (Sell).
From a valuation perspective, Hologic is currently exchanging hands at a Forward P/E ratio of 17.42. This indicates a discount in contrast to its industry's Forward P/E of 24.24.
The Medical - Instruments industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 103, positioning it in the top 41% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.