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Hologic (HOLX) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·3-min read

Hologic (HOLX) closed at $66.24 in the latest trading session, marking a -0.47% move from the prior day. This move lagged the S&P 500's daily loss of 0.2%. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.12%.

Heading into today, shares of the medical device maker had lost 1.42% over the past month, lagging the Medical sector's loss of 0.3% and outpacing the S&P 500's loss of 3.29% in that time.

Investors will be hoping for strength from Hologic as it approaches its next earnings release, which is expected to be October 31, 2022. 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%. Meanwhile, our latest consensus estimate is calling for revenue of $866.83 million, down 34.16% from the prior-year quarter.

Investors should also note any recent changes to analyst estimates for Hologic. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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 is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Hologic is currently trading at a Forward P/E ratio of 19.08. For comparison, its industry has an average Forward P/E of 26.43, which means Hologic is trading at a discount to the group.

It is also worth noting that HOLX currently has a PEG ratio of 1.26. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. HOLX's industry had an average PEG ratio of 1.9 as of yesterday's close.

The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 136, which puts it in the bottom 47% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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Zacks Investment Research