Is Hologic Stock Outperforming the Nasdaq?

Hologic, Inc. (HOLX), headquartered in Marlborough, Massachusetts, is a global medical technology and diagnostics leader. With a market cap of $19 billion, Hologic focuses on delivering innovative solutions in women's health, diagnostics, and medical imaging. 

Companies valued at $10 billion or more are generally described as "large-cap stocks," and Hologic is a prime example of this. By advancing women’s health and diagnostic solutions, Hologic improves health outcomes for millions of patients globally. 

HOLX shares are trading 3.9% below their 52-week high of $84.67, which they hit on Aug. 9. The stock has gained 12.7% over the past three months, outperforming the broader Nasdaq Composite ($NASX), which has risen 1.3% over the same time frame.

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In the longer term, the HOLX is up 13.9% on a YTD basis, and the shares have gained by 25.9% over the past 52 weeks. In comparison, the Nasdaq has gained 19.6% in 2024 and rallied 33.3% over the past year.

To confirm its bullish trend, HOLX has been trading above its 50-day moving average since early July and the 200-day moving average since late June.

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On Jul. 29, HOLX shares closed up more than 1% after reporting its Q3 results. Its adjusted EPS of $1.06 exceeded Wall Street expectations of $1.02. The company’s revenue was $1.01 billion, topping Wall Street forecasts of $1 billion. HOLX updated its full-year guidance and expects its adjusted EPS to be between $4.04 and $4.11 and revenue to be between $4.01 billion and $4.03 billion.

Highlighting the contrast in performance, HOLX's competitor, Intuitive Surgical, Inc. (ISRG), has outperformed both the stock and NASX. ISRG has gained 44.1% on a YTD basis.

Analysts are bullish about the HOLX's prospects despite the strong price performance. The stock has a consensus rating of "Moderate Buy" from 15 analysts in coverage. The mean price target is $89.28, suggesting a premium of 9.7% to its current levels.

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On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.