In the latest trading session, Hologic (HOLX) closed at $70.13, marking a -0.11% move from the previous day. This move lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.45%.
Prior to today's trading, shares of the medical device maker had lost 6.9% over the past month. This has lagged the Medical sector's loss of 5.26% and the S&P 500's loss of 1.38% in that time.
Wall Street will be looking for positivity from Hologic as it approaches its next earnings report date. The company is expected to report EPS of $0.85, up 3.66% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $941.83 million, down 1.2% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.92 per share and revenue of $4.03 billion. These totals would mark changes of -34.88% and -17.19%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Hologic. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Hologic is currently a Zacks Rank #3 (Hold).
Digging into valuation, Hologic currently has a Forward P/E ratio of 17.9. This valuation marks a discount compared to its industry's average Forward P/E of 27.34.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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