In the latest trading session, Hologic (HOLX) closed at $64.14, marking a -1.6% move from the previous day. This move lagged the S&P 500's daily loss of 0.84%. Meanwhile, the Dow experienced a drop of 0.7%, and the technology-dominated Nasdaq saw a decrease of 0.91%.
Coming into today, shares of the medical device maker had gained 14.77% in the past month. In that same time, the Medical sector gained 0%, while the S&P 500 gained 1.44%.
The investment community will be paying close attention to the earnings performance of Hologic in its upcoming release. The company is expected to report EPS of $1.06, unchanged from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $1.01 billion, indicating a 0.39% downward movement from the same quarter last year.
HOLX's full-year Zacks Consensus Estimates are calling for earnings of $4.2 per share and revenue of $4.08 billion. These results would represent year-over-year changes of +2.94% and +1.16%, respectively.
Any recent changes to analyst estimates for Hologic should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.27% decrease. Hologic presently features a Zacks Rank of #4 (Sell).
Looking at its valuation, Hologic is holding a Forward P/E ratio of 15.52. This denotes a discount relative to the industry average Forward P/E of 26.88.
It is also worth noting that HOLX currently has a PEG ratio of 2.39. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - Instruments stocks are, on average, holding a PEG ratio of 2.26 based on yesterday's closing prices.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 39% of all 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.
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, Inc. (HOLX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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