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Hologic (HOLX) Advances While Market Declines: Some Information for Investors
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Hologic (HOLX - Free Report) closed the most recent trading day at $72.12, moving +1.11% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.15%. Elsewhere, the Dow saw a downswing of 0.42%, while the tech-heavy Nasdaq appreciated by 0.09%.
Prior to today's trading, shares of the medical device maker had gained 3.86% over the past month. This has lagged the Medical sector's gain of 6.58% and outpaced the S&P 500's gain of 3.5% in that time.
Market participants will be closely following the financial results of Hologic in its upcoming release. The company plans to announce its earnings on February 1, 2024. In that report, analysts expect Hologic to post earnings of $0.94 per share. This would mark a year-over-year decline of 12.15%. Meanwhile, the latest consensus estimate predicts the revenue to be $978.33 million, indicating an 8.92% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.99 per share and revenue of $3.98 billion, which would represent changes of +0.76% and -1.24%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.11% decrease. Hologic currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Hologic is currently exchanging hands at a Forward P/E ratio of 17.9. This signifies a discount in comparison to the average Forward P/E of 26.79 for its industry.
We can additionally observe that HOLX currently boasts a PEG ratio of 2.32. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Medical - Instruments industry was having an average PEG ratio of 2.32.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 143, putting it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank is ordered 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) Advances While Market Declines: Some Information for Investors
Hologic (HOLX - Free Report) closed the most recent trading day at $72.12, moving +1.11% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.15%. Elsewhere, the Dow saw a downswing of 0.42%, while the tech-heavy Nasdaq appreciated by 0.09%.
Prior to today's trading, shares of the medical device maker had gained 3.86% over the past month. This has lagged the Medical sector's gain of 6.58% and outpaced the S&P 500's gain of 3.5% in that time.
Market participants will be closely following the financial results of Hologic in its upcoming release. The company plans to announce its earnings on February 1, 2024. In that report, analysts expect Hologic to post earnings of $0.94 per share. This would mark a year-over-year decline of 12.15%. Meanwhile, the latest consensus estimate predicts the revenue to be $978.33 million, indicating an 8.92% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.99 per share and revenue of $3.98 billion, which would represent changes of +0.76% and -1.24%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.11% decrease. Hologic currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Hologic is currently exchanging hands at a Forward P/E ratio of 17.9. This signifies a discount in comparison to the average Forward P/E of 26.79 for its industry.
We can additionally observe that HOLX currently boasts a PEG ratio of 2.32. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Medical - Instruments industry was having an average PEG ratio of 2.32.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 143, putting it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank is ordered 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.