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What Investors Need to Know

Hologic (HOLX) closed the latest trading day at $70.94, indicating a -0.24% change from the previous session’s end. This move lagged the S&P 500’s daily gain of 0.14%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 0.16%.

Shares of the medical device maker witnessed a gain of 1.77% over the previous month, trailing the performance of the Medical sector with its gain of 4.24% and the S&P 500’s gain of 4.89%.

Investors will be eagerly watching for the performance of Hologic in its upcoming earnings disclosure. The company’s earnings per share (EPS) are projected to be $0.94, reflecting a 12.15% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $978.36 million, indicating an 8.92% downward movement from the same quarter last year.

HOLX’s full-year Zacks Consensus Estimates are calling for earnings of $3.99 per share and revenue of $3.98 billion. These results would represent year-over-year changes of +0.76% and -1.36%, respectively.

Investors should also note any recent changes to analyst estimates for Hologic. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts’ favorable outlook on the company’s business health and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Hologic possesses a Zacks Rank of #3 (Hold).

Digging into valuation, Hologic currently has a Forward P/E ratio of 17.82. This signifies a discount in comparison to the average Forward P/E of 25.1 for its industry.

Investors should also note that HOLX has a PEG ratio of 2.31 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company’s anticipated earnings growth rate. As of the close of trade yesterday, the Medical – Instruments industry held an average PEG ratio of 2.6.

The Medical – Instruments industry is part of the Medical sector. With its current Zacks Industry Rank of 81, this industry ranks in the top 33% 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.

To follow HOLX in the coming trading sessions, be sure to utilize Zacks.com.

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