Hologic (HOLX) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Hologic (HOLX) closed at $81.15 in the latest trading session, marking a -0.51% move from the prior day. This move lagged the S&P 500's daily loss of 0.18%. Elsewhere, the Dow saw a downswing of 0.8%, while the tech-heavy Nasdaq appreciated by 0.27%.Coming into today, shares of the medical device maker had gained 0.22% in the past month. In that same time, the Medical sector lost 3.03%, while the S&P 500 gained 4.46%.The upcoming earnings release of Hologic will be of great interest to investors. The company's earnings report is expected on November 4, 2024. The company's upcoming EPS is projected at $1.02, signifying a 14.61% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $979.28 million, up 3.59% from the prior-year quarter.Investors should also take note of any recent adjustments to analyst estimates for Hologic. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.07% lower. As of now, Hologic holds a Zacks Rank of #3 (Hold).Looking at its valuation, Hologic is holding a Forward P/E ratio of 18.66. This represents a discount compared to its industry's average Forward P/E of 27.35.Meanwhile, HOLX's PEG ratio is currently 2.95. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Medical - Instruments industry held an average PEG ratio of 2.39.The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% 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.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks