Hologic (HOLX) closed the latest trading day at $61.89, indicating a +0.68% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 1.77%. Meanwhile, the Dow gained 1.42%, and the Nasdaq, a tech-heavy index, added 2.28%.

Prior to today's trading, shares of the medical device maker had lost 4.68% over the past month. This has lagged the Medical sector's loss of 1.17% and was narrower than the S&P 500's loss of 5.73% in that time.

Market participants will be closely following the financial results of Hologic in its upcoming release. In that report, analysts expect Hologic to post earnings of $1.02 per share. This would mark a year-over-year decline of 0.97%. Meanwhile, the latest consensus estimate predicts the revenue to be $1 billion, indicating a 1.56% decrease compared to the same quarter of the previous year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.28 per share and a revenue of $4.08 billion, signifying shifts of +4.9% and +1.29%, respectively, from the 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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.08% lower within the past month. Hologic is currently sporting a Zacks Rank of #3 (Hold).

With respect to valuation, Hologic is currently being traded at a Forward P/E ratio of 14.38. This expresses a discount compared to the average Forward P/E of 28.15 of its industry.

It is also worth noting that HOLX currently has a PEG ratio of 2.04. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Medical - Instruments stocks are, on average, holding a PEG ratio of 2.45 based on yesterday's closing prices.

The Medical - Instruments industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 32% 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.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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 Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research