News

Hologic (HOLX) closed the latest trading day at $78.46, indicating a +1.45% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.64%. On the other hand, the Dow registered a gain of 1.85%, and the technology-centric Nasdaq increased by 0.2%.

Coming into today, shares of the medical device maker had gained 8.27% in the past month. In that same time, the Medical sector gained 0.71%, while the S&P 500 gained 3.82%.

Investors will be eagerly watching for the performance of Hologic in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 29, 2024. In that report, analysts expect Hologic to post earnings of $1.02 per share. This would mark year-over-year growth of 9.68%. At the same time, our most recent consensus estimate is projecting a revenue of $1 billion, reflecting a 1.66% rise from the equivalent quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.08 per share and revenue of $4.04 billion. These totals would mark changes of +3.03% and +0.13%, respectively, from last 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 company's business health and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Hologic possesses a Zacks Rank of #2 (Buy).

Looking at its valuation, Hologic is holding a Forward P/E ratio of 18.96. This valuation marks a discount compared to its industry's average Forward P/E of 25.55.

It's also important to note that HOLX currently trades at a PEG ratio of 2.58. 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. As of the close of trade yesterday, the Medical - Instruments industry held an average PEG ratio of 2.54.

The Medical - Instruments industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 155, positioning it in the bottom 39% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Hologic, Inc. (HOLX) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.