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Hologic (HOLX) Beats Stock Market Upswing: What Investors Need to Know
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Hologic (HOLX - Free Report) ended the recent trading session at $74.04, demonstrating a +0.71% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.22%. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.32%.
Heading into today, shares of the medical device maker had gained 3.49% over the past month, outpacing the Medical sector's gain of 2.3% and the S&P 500's gain of 1.61% in that time.
The investment community will be paying close attention to the earnings performance of Hologic in its upcoming release. The company is slated to reveal its earnings on February 1, 2024. The company is expected to report EPS of $0.94, down 12.15% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $983.25 million, down 8.47% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.99 per share and revenue of $3.99 billion, indicating changes of +0.76% and -1.12%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Hologic. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.04% higher. Right now, Hologic possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Hologic is currently being traded at a Forward P/E ratio of 18.42. This denotes a discount relative to the industry's average Forward P/E of 26.05.
It's also important to note that HOLX currently trades at a PEG ratio of 2.39. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical - Instruments industry had an average PEG ratio of 2.44 as trading concluded yesterday.
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 111, placing it within the top 45% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Beats Stock Market Upswing: What Investors Need to Know
Hologic (HOLX - Free Report) ended the recent trading session at $74.04, demonstrating a +0.71% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.22%. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.32%.
Heading into today, shares of the medical device maker had gained 3.49% over the past month, outpacing the Medical sector's gain of 2.3% and the S&P 500's gain of 1.61% in that time.
The investment community will be paying close attention to the earnings performance of Hologic in its upcoming release. The company is slated to reveal its earnings on February 1, 2024. The company is expected to report EPS of $0.94, down 12.15% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $983.25 million, down 8.47% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.99 per share and revenue of $3.99 billion, indicating changes of +0.76% and -1.12%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Hologic. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.04% higher. Right now, Hologic possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Hologic is currently being traded at a Forward P/E ratio of 18.42. This denotes a discount relative to the industry's average Forward P/E of 26.05.
It's also important to note that HOLX currently trades at a PEG ratio of 2.39. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical - Instruments industry had an average PEG ratio of 2.44 as trading concluded yesterday.
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 111, placing it within the top 45% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.