Hologic (NASDAQ:HOLX) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Hologic (NASDAQ:HOLX) issued its earnings results on Monday. The medical equipment provider reported $1.06 EPS for the quarter, beating the consensus estimate of $1.02 by $0.04, Briefing.com reports. Hologic had a return on equity of 19.65% and a net margin of 17.59%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the business posted $0.93 EPS. The company’s revenue was up 2.7% compared to the same quarter last year.

Hologic Price Performance

Shares of HOLX stock traded down $0.86 during mid-day trading on Wednesday, hitting $81.65. The company had a trading volume of 1,200,769 shares, compared to its average volume of 1,623,965. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.97 and a quick ratio of 3.29. The stock’s 50 day moving average price is $74.82 and its 200-day moving average price is $75.15. Hologic has a 52-week low of $64.02 and a 52-week high of $82.65. The company has a market capitalization of $19.06 billion, a P/E ratio of 42.10, a P/E/G ratio of 2.65 and a beta of 0.99.

Insider Buying and Selling at Hologic

In other news, Director Christiana Stamoulis sold 9,039 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total transaction of $718,600.50. Following the completion of the transaction, the director now owns 45,472 shares in the company, valued at $3,615,024. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Christiana Stamoulis sold 9,039 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total transaction of $718,600.50. Following the sale, the director now directly owns 45,472 shares of the company’s stock, valued at approximately $3,615,024. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen P. Macmillan 44,039 shares of the company’s stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. 1.75% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. StockNews.com upgraded Hologic from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Royal Bank of Canada raised their price objective on shares of Hologic from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Tuesday. Evercore ISI upped their target price on shares of Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a report on Tuesday. Argus lifted their price target on shares of Hologic from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Stephens reissued an “overweight” rating and set a $92.00 price objective on shares of Hologic in a research report on Tuesday. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.45.

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.