Hologic (NASDAQ:HOLX) Updates Q4 2024 Earnings Guidance

Hologic (NASDAQ:HOLX) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.970-1.040 for the period, compared to the consensus earnings per share estimate of 1.040. The company issued revenue guidance of $970.0 million-$985.0 million, compared to the consensus revenue estimate of $1.0 billion. Hologic also updated its FY 2024 guidance to 4.040-4.110 EPS.

Hologic Price Performance

Shares of HOLX traded up $1.01 during mid-day trading on Monday, hitting $79.64. 2,196,460 shares of the company traded hands, compared to its average volume of 1,618,592. Hologic has a one year low of $64.02 and a one year high of $81.00. The company has a current ratio of 3.97, a quick ratio of 3.29 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average of $74.56 and a 200 day moving average of $75.03. The stock has a market capitalization of $18.59 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 2.62 and a beta of 0.99.

Hologic (NASDAQ:HOLX) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05. Hologic had a net margin of 11.78% and a return on equity of 18.91%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the firm earned $1.06 earnings per share. Hologic’s revenue was down .8% compared to the same quarter last year. As a group, equities analysts expect that Hologic will post 4.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on HOLX. Citigroup raised shares of Hologic from a neutral rating to a buy rating and raised their price objective for the company from $80.00 to $95.00 in a research note on Wednesday, April 3rd. Argus raised their price objective on shares of Hologic from $89.00 to $95.00 and gave the company a buy rating in a research note on Thursday, May 9th. Stephens began coverage on shares of Hologic in a research note on Thursday, June 27th. They issued an overweight rating and a $87.00 price objective on the stock. Needham & Company LLC reaffirmed a buy rating and issued a $90.00 price objective on shares of Hologic in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. increased 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, May 3rd. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $85.55.

Insider Buying and Selling

In related news, CEO Stephen P. Macmillan sold 3,672 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total transaction of $294,237.36. Following the sale, the chief executive officer now directly owns 1,157,562 shares in the company, valued at $92,755,443.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Hologic news, Director Christiana Stamoulis sold 9,039 shares of Hologic stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total value of $718,600.50. Following the sale, the director now directly owns 45,472 shares in the company, valued at approximately $3,615,024. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen P. Macmillan sold 3,672 shares of Hologic stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total transaction of $294,237.36. Following the completion of the sale, the chief executive officer now owns 1,157,562 shares in the company, valued at $92,755,443.06. 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.