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Why Hologic (HOLX) Outpaced the Stock Market Today
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Hologic (HOLX - Free Report) ended the recent trading session at $67.21, demonstrating a +2.16% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.65%, while the tech-heavy Nasdaq added 0.44%.
The medical device maker's shares have seen a decrease of 1.25% over the last month, not keeping up with the Medical sector's loss of 0.94% and the S&P 500's gain of 2.72%.
The investment community will be closely monitoring the performance of Hologic in its forthcoming earnings report. In that report, analysts expect Hologic to post earnings of $1.1 per share. This would mark year-over-year growth of 8.91%. Our most recent consensus estimate is calling for quarterly revenue of $1.03 billion, up 4.63% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.23 per share and a revenue of $4.08 billion, indicating changes of +3.68% and +1.35%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Hologic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% higher. Currently, Hologic is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Hologic currently has a Forward P/E ratio of 15.55. This signifies a discount in comparison to the average Forward P/E of 23.65 for its industry.
Also, we should mention that HOLX has a PEG ratio of 2.39. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Medical - Instruments stocks are, on average, holding a PEG ratio of 2.44 based on yesterday's closing prices.
The Medical - Instruments industry is part of the Medical sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 39% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Why Hologic (HOLX) Outpaced the Stock Market Today
Hologic (HOLX - Free Report) ended the recent trading session at $67.21, demonstrating a +2.16% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.65%, while the tech-heavy Nasdaq added 0.44%.
The medical device maker's shares have seen a decrease of 1.25% over the last month, not keeping up with the Medical sector's loss of 0.94% and the S&P 500's gain of 2.72%.
The investment community will be closely monitoring the performance of Hologic in its forthcoming earnings report. In that report, analysts expect Hologic to post earnings of $1.1 per share. This would mark year-over-year growth of 8.91%. Our most recent consensus estimate is calling for quarterly revenue of $1.03 billion, up 4.63% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.23 per share and a revenue of $4.08 billion, indicating changes of +3.68% and +1.35%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Hologic. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% higher. Currently, Hologic is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Hologic currently has a Forward P/E ratio of 15.55. This signifies a discount in comparison to the average Forward P/E of 23.65 for its industry.
Also, we should mention that HOLX has a PEG ratio of 2.39. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Medical - Instruments stocks are, on average, holding a PEG ratio of 2.44 based on yesterday's closing prices.
The Medical - Instruments industry is part of the Medical sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 39% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.