Hologic (HOLX) Stock Moves -0.35%: What You Should Know

Hologic (HOLX) closed at $65 in the latest trading session, marking a -0.35% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.11%. At the same time, the Dow lost 1.54%, and the tech-heavy Nasdaq lost 0.3%.

Prior to today's trading, shares of the medical device maker had lost 3.45% over the past month. This has was narrower than the Medical sector's loss of 4.04% and the S&P 500's loss of 8.19% in that time.

Investors will be hoping for strength from Hologic as it approaches its next earnings release. In that report, analysts expect Hologic to post earnings of $0.62 per share. This would mark a year-over-year decline of 61.49%. Our most recent consensus estimate is calling for quarterly revenue of $866.83 million, down 34.16% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $5.82 per share and revenue of $4.78 billion, which would represent changes of -30.8% and -15.2%, respectively, from the prior year.

Any recent changes to analyst estimates for Hologic should also be noted by investors. 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.

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.

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. Within the past 30 days, our consensus EPS projection remained stagnant. Hologic currently has a Zacks Rank of #3 (Hold).

Digging into valuation, Hologic currently has a Forward P/E ratio of 11.21. For comparison, its industry has an average Forward P/E of 25.39, which means Hologic is trading at a discount to the group.

It is also worth noting that HOLX currently has a PEG ratio of 0.74. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Instruments industry currently had an average PEG ratio of 1.77 as of yesterday's close.

The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 39% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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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