Hologic (NASDAQ:HOLX) Updates 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 Trading Up 0.8 %

NASDAQ HOLX traded up $0.63 during trading hours on Friday, hitting $76.54. 2,069,424 shares of the company were exchanged, compared to its average volume of 1,449,410. The stock has a market cap of $17.97 billion, a PE ratio of 39.05, a price-to-earnings-growth ratio of 2.59 and a beta of 1.01. Hologic has a 52 week low of $64.02 and a 52 week high of $86.74. The stock has a 50-day moving average price of $76.13 and a 200 day moving average price of $73.05. The company has a quick ratio of 3.18, a current ratio of 3.89 and a debt-to-equity ratio of 0.55.

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

About Hologic

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.