Hologic (NASDAQ:HOLX) closed at $76.48 in the latest trading session, marking a -1.76% move from the prior day. This change lagged the S&P 500's daily loss of 0.38%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Heading into today, shares of the medical device maker had gained 5.73% over the past month, outpacing the Medical sector's gain of 2.06% and the S&P 500's gain of 4.12% in that time.
Investors will be hoping for strength from HOLX as it approaches its next earnings release, which is expected to be January 27, 2021. In that report, analysts expect HOLX to post earnings of $2.14 per share. This would mark year-over-year growth of 250.82%. Our most recent consensus estimate is calling for quarterly revenue of $1.32 billion, up 55.65% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.17 per share and revenue of $5.22 billion, which would represent changes of +80.15% and +38.16%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for HOLX. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 6.92% higher. HOLX is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note HOLX's current valuation metrics, including its Forward P/E ratio of 10.86. This represents a discount compared to its industry's average Forward P/E of 45.09.
It is also worth noting that HOLX currently has a PEG ratio of 0.62. 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. The Medical - Instruments was holding an average PEG ratio of 3.96 at yesterday's closing price.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% of all 250+ industries.
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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Hologic, Inc. (HOLX): Free Stock Analysis Report
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