Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of medical imaging systems specialist Hologic (Nasdaq: HOLX) popped 10% Tuesday after its quarterly results edged out Wall Street estimates.  

So what: While Hologic's fourth-quarter results didn't exactly blow out expectations (EPS of $0.34 topped the analyst consensus by just a penny), revenue growth across all of its operating units suggests that demand remains quite healthy. Additionally, fewer writedowns in the quarter might also be a sign to investors that profits are finally ready to start growing with sales.

Now what: For fiscal 2012, Hologic now sees adjusted EPS of $1.35-$1.37 on revenue of $1.9 billion to $1.93 billion. While that forecast is slightly below Wall Street's view, management is probably being extra-cautious given its obvious broad-based growth. With a cheapish forward P/E of 12, betting on future upside surprises seems worth looking into.

Interested in more info on Hologic? Add it to your watchlist.

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