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The most recent trading session ended with Hologic (HOLX - Free Report) standing at $80.26, reflecting a +0.48% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.97%. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq gained 1.45%.
The medical device maker's stock has dropped by 3.4% in the past month, exceeding the Medical sector's loss of 3.72% and lagging the S&P 500's gain of 5.41%.
Market participants will be closely following the financial results of Hologic in its upcoming release. The company plans to announce its earnings on November 4, 2024. The company is forecasted to report an EPS of $1.02, showcasing a 14.61% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $978.92 million, indicating a 3.56% upward movement from the same quarter last year.
Investors might also notice recent changes to analyst estimates for Hologic. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Within the past 30 days, our consensus EPS projection has moved 1.04% lower. Hologic is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Hologic is presently being traded at a Forward P/E ratio of 18.08. Its industry sports an average Forward P/E of 26.27, so one might conclude that Hologic is trading at a discount comparatively.
Meanwhile, HOLX's PEG ratio is currently 2.86. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Medical - Instruments industry stood at 2.17 at the close of the market yesterday.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Hologic (HOLX) Rises Yet Lags Behind Market: Some Facts Worth Knowing
The most recent trading session ended with Hologic (HOLX - Free Report) standing at $80.26, reflecting a +0.48% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.97%. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq gained 1.45%.
The medical device maker's stock has dropped by 3.4% in the past month, exceeding the Medical sector's loss of 3.72% and lagging the S&P 500's gain of 5.41%.
Market participants will be closely following the financial results of Hologic in its upcoming release. The company plans to announce its earnings on November 4, 2024. The company is forecasted to report an EPS of $1.02, showcasing a 14.61% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $978.92 million, indicating a 3.56% upward movement from the same quarter last year.
Investors might also notice recent changes to analyst estimates for Hologic. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Within the past 30 days, our consensus EPS projection has moved 1.04% lower. Hologic is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Hologic is presently being traded at a Forward P/E ratio of 18.08. Its industry sports an average Forward P/E of 26.27, so one might conclude that Hologic is trading at a discount comparatively.
Meanwhile, HOLX's PEG ratio is currently 2.86. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Medical - Instruments industry stood at 2.17 at the close of the market yesterday.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.