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Hologic (HOLX) Gains As Market Dips: What You Should Know
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The most recent trading session ended with Hologic (HOLX - Free Report) standing at $81.66, reflecting a +0.05% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.76% for the day. At the same time, the Dow lost 0.75%, and the tech-heavy Nasdaq lost 1.01%.
The medical device maker's stock has dropped by 1.31% in the past month, exceeding the Medical sector's loss of 3.35% and lagging the S&P 500's gain of 4.31%.
The upcoming earnings release of Hologic will be of great interest to investors. The company's earnings report is expected on November 4, 2024. On that day, Hologic is projected to report earnings of $1.02 per share, which would represent year-over-year growth of 14.61%. At the same time, our most recent consensus estimate is projecting a revenue of $979.49 million, reflecting a 3.62% rise from the equivalent quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Hologic. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 1.74% fall in the Zacks Consensus EPS estimate. Hologic is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Hologic has a Forward P/E ratio of 18.61 right now. This expresses a discount compared to the average Forward P/E of 26.88 of its industry.
It is also worth noting that HOLX currently has a PEG ratio of 2.94. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Instruments was holding an average PEG ratio of 2.41 at yesterday's closing price.
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 82, placing it within the top 33% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Hologic (HOLX) Gains As Market Dips: What You Should Know
The most recent trading session ended with Hologic (HOLX - Free Report) standing at $81.66, reflecting a +0.05% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.76% for the day. At the same time, the Dow lost 0.75%, and the tech-heavy Nasdaq lost 1.01%.
The medical device maker's stock has dropped by 1.31% in the past month, exceeding the Medical sector's loss of 3.35% and lagging the S&P 500's gain of 4.31%.
The upcoming earnings release of Hologic will be of great interest to investors. The company's earnings report is expected on November 4, 2024. On that day, Hologic is projected to report earnings of $1.02 per share, which would represent year-over-year growth of 14.61%. At the same time, our most recent consensus estimate is projecting a revenue of $979.49 million, reflecting a 3.62% rise from the equivalent quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Hologic. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 1.74% fall in the Zacks Consensus EPS estimate. Hologic is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Hologic has a Forward P/E ratio of 18.61 right now. This expresses a discount compared to the average Forward P/E of 26.88 of its industry.
It is also worth noting that HOLX currently has a PEG ratio of 2.94. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Instruments was holding an average PEG ratio of 2.41 at yesterday's closing price.
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 82, placing it within the top 33% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.