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Hologic (HOLX) closed at $72.68 in the latest trading session, marking no change from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.04%. Elsewhere, the Dow gained 0.07%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the medical device maker had lost 8.51% over the past month, lagging the Medical sector's loss of 4.31% and the S&P 500's gain of 1.05% in that time.
The investment community will be paying close attention to the earnings performance of Hologic in its upcoming release. The company is forecasted to report an EPS of $1.01, showcasing a 3.06% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.03 billion, indicating a 1.39% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.29 per share and a revenue of $4.17 billion, signifying shifts of +5.15% and +3.53%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Hologic. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.2% rise in the Zacks Consensus EPS estimate. Right now, Hologic possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Hologic currently has a Forward P/E ratio of 16.96. This expresses a discount compared to the average Forward P/E of 28.57 of its industry.
Also, we should mention that HOLX has a PEG ratio of 2.47. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Medical - Instruments industry was having an average PEG ratio of 2.46.
The Medical - Instruments industry is part of the Medical sector. With its current Zacks Industry Rank of 53, this industry ranks in the top 22% of all industries, numbering over 250.