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Hologic (HOLX) Increases Despite Market Slip: Here's What You Need to Know
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Hologic (HOLX - Free Report) closed the most recent trading day at $77.54, moving +0.27% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 1.2%. At the same time, the Dow lost 0.65%, and the tech-heavy Nasdaq lost 1.79%.
The the stock of medical device maker has risen by 1.87% in the past month, leading the Medical sector's loss of 6.57% and the S&P 500's loss of 0.85%.
Investors will be eagerly watching for the performance of Hologic in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 2, 2024. It is anticipated that the company will report an EPS of $0.98, marking a 7.55% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1 billion, reflecting a 2.49% fall from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.02 per share and revenue of $4.02 billion. These totals would mark changes of +1.52% and -0.19%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Hologic. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Hologic is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Hologic is currently exchanging hands at a Forward P/E ratio of 19.26. This expresses a discount compared to the average Forward P/E of 25.63 of its industry.
One should further note that HOLX currently holds a PEG ratio of 2.62. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Medical - Instruments industry stood at 2.34 at the close of the market yesterday.
The Medical - Instruments industry is part of the Medical sector. With its current Zacks Industry Rank of 99, this industry ranks in the top 40% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Hologic (HOLX) Increases Despite Market Slip: Here's What You Need to Know
Hologic (HOLX - Free Report) closed the most recent trading day at $77.54, moving +0.27% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 1.2%. At the same time, the Dow lost 0.65%, and the tech-heavy Nasdaq lost 1.79%.
The the stock of medical device maker has risen by 1.87% in the past month, leading the Medical sector's loss of 6.57% and the S&P 500's loss of 0.85%.
Investors will be eagerly watching for the performance of Hologic in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 2, 2024. It is anticipated that the company will report an EPS of $0.98, marking a 7.55% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1 billion, reflecting a 2.49% fall from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.02 per share and revenue of $4.02 billion. These totals would mark changes of +1.52% and -0.19%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Hologic. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Hologic is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Hologic is currently exchanging hands at a Forward P/E ratio of 19.26. This expresses a discount compared to the average Forward P/E of 25.63 of its industry.
One should further note that HOLX currently holds a PEG ratio of 2.62. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Medical - Instruments industry stood at 2.34 at the close of the market yesterday.
The Medical - Instruments industry is part of the Medical sector. With its current Zacks Industry Rank of 99, this industry ranks in the top 40% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.