Hologic Inc. (HOLX) was a big mover last session with its shares rising over 7% on the day. The upside was owing to the company’s announcement of better-than-expected earnings and revenues for the third quarter of fiscal 2015. Alongside, Hologic also raised its financial guidance for fiscal 2015. This development led to far more shares changing hands yesterday than in a normal session. The move breaks the recent trend of the company as the stock is now trading above the past one month’s volatile price range of $37.54 to $39.24.
This developer of diagnostics products, medical imaging systems, and surgical products for women has seen two positive estimate revisions over the past 30 days. However, the Zacks Consensus Estimate has remained unchanged over the same period. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Hologic currently has a Zacks Rank #2 (Buy).
Investors interested in the medical instruments industry may also consider RTI Surgical Inc. (RTIX) which sports a Zacks Rank #1 (Strong Buy).
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