Hologic (NASDAQ:HOLX) Issues Q3 Earnings Guidance

Hologic (NASDAQ:HOLX) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.98-$1.05 for the period, compared to the consensus EPS estimate of $1.02. The company issued revenue guidance of $992.5-$1, compared to the consensus revenue estimate of $1.01 billion. Hologic also updated its FY24 guidance to $4.02-$4.12 EPS.

Hologic Stock Performance

Shares of Hologic stock traded up $0.63 during trading hours on Friday, reaching $76.54. The company’s stock had a trading volume of 2,069,424 shares, compared to its average volume of 1,449,410. The company’s 50 day simple moving average is $76.13 and its 200 day simple moving average is $73.05. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.18 and a current ratio of 3.89. Hologic has a one year low of $64.02 and a one year high of $86.74. The stock has a market cap of $17.97 billion, a P/E ratio of 39.05, a price-to-earnings-growth ratio of 2.59 and a beta of 1.01.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. Hologic had a net margin of 11.78% and a return on equity of 18.81%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm posted $1.06 EPS. As a group, analysts expect that Hologic will post 4.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HOLX has been the subject of a number of research reports. Citigroup raised Hologic from a neutral rating to a buy rating and increased their price target for the company from $80.00 to $95.00 in a research note on Wednesday, April 3rd. Raymond James lifted their target price on Hologic from $85.00 to $88.00 and gave the stock an outperform rating in a report on Friday, February 2nd. Evercore ISI boosted their price target on shares of Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a research report on Thursday, April 4th. StockNews.com upgraded shares of Hologic from a hold rating to a buy rating in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Hologic from $85.00 to $91.00 and gave the stock an overweight rating in a report on Friday. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $84.56.

Insider Transactions at Hologic

In related news, Director Scott T. Garrett sold 16,441 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $75.50, for a total value of $1,241,295.50. Following the completion of the sale, the director now directly owns 48,611 shares in the company, valued at $3,670,130.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Charles J. Dockendorff sold 1,465 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $76.21, for a total value of $111,647.65. Following the completion of the sale, the director now directly owns 1,572 shares in the company, valued at $119,802.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott T. Garrett sold 16,441 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $75.50, for a total transaction of $1,241,295.50. Following the completion of the sale, the director now owns 48,611 shares of the company’s stock, valued at $3,670,130.50. The disclosure for this sale can be found here. 1.75% of the stock is currently owned by company insiders.

Hologic Company Profile

Hologic, Inc develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. It provides Aptima molecular diagnostic assays to detect the infectious microorganisms; Aptima viral load assays for Hepatitis B virus, Hepatitis C virus, human immunodeficiency virus, and human cytomegalo virus; Aptima bacterial vaginosis and candida vaginitis assays for the diagnosis of vaginitis; Aptima SARS-CoV-2 and Panther Fusion SARS-CoV-2 assays to detect SARS-CoV-2; ThinPrep System for cytology applications; and Rapid Fetal Fibronectin Test that assists physicians in assessing the risk of pre-term birth.