Hologic (NASDAQ:HOLX) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

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

Hologic Trading Down 1.1 %

HOLX traded down $0.90 during trading on Wednesday, hitting $81.61. 2,986,580 shares of the company’s stock were exchanged, compared to its average volume of 1,636,196. Hologic has a 1 year low of $64.02 and a 1 year high of $82.65. The firm has a market cap of $19.05 billion, a P/E ratio of 42.10, a price-to-earnings-growth ratio of 2.65 and a beta of 0.99. 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 stock has a 50 day moving average price of $74.82 and a 200 day moving average price of $75.15.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Hologic from $91.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday. Evercore ISI boosted their price target on shares of Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Hologic in a research report on Tuesday. StockNews.com raised Hologic from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada lifted their price target on Hologic from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Hologic currently has a consensus rating of “Moderate Buy” and an average target price of $87.45.

Insider Activity at Hologic

In other news, Director Christiana Stamoulis sold 9,039 shares of the 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 completion of the transaction, the director now directly owns 45,472 shares in the company, valued at approximately $3,615,024. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 completion of the transaction, the director now owns 45,472 shares of the company’s stock, valued at $3,615,024. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen P. Macmillan sold 3,672 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total transaction of $294,237.36. Following the completion of the transaction, 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. Company 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.