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Hologic (HOLX) Gains As Market Dips: What You Should Know

Hologic (HOLX) closed at $64.47 in the latest trading session, marking a +0.7% move from the prior day. This move outpaced the S&P 500's daily loss of 0.11%.

Coming into today, shares of the medical device maker had gained 2.14% in the past month. In that same time, the Medical sector gained 2.36%, while the S&P 500 gained 2.23%.

Wall Street will be looking for positivity from HOLX as it approaches its next earnings report date. In that report, analysts expect HOLX to post earnings of $1.10 per share. This would mark year-over-year growth of 46.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.04 billion, up 26.06% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.76 per share and revenue of $5.14 billion. These totals would mark changes of +94.97% and +36.11%, respectively, from last year.

Any recent changes to analyst estimates for HOLX should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. The Zacks Consensus EPS estimate has moved 0.09% higher within the past month. HOLX is currently sporting a Zacks Rank of #5 (Strong Sell).

Digging into valuation, HOLX currently has a Forward P/E ratio of 8.25. This represents a discount compared to its industry's average Forward P/E of 40.93.

Investors should also note that HOLX has a PEG ratio of 0.86 right now. 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 was holding an average PEG ratio of 3.91 at yesterday's closing price.

The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 206, putting it in the bottom 19% 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.

To follow HOLX in the coming trading sessions, be sure to utilize

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