Hologic (NASDAQ:HOLX) Releases FY 2024 Earnings Guidance

Hologic (NASDAQ:HOLX) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 4.040-4.110 for the period, compared to the consensus EPS estimate of 4.070. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $4.0 billion. Hologic also updated its Q4 guidance to $0.97-1.04 EPS.

Hologic Price Performance

NASDAQ:HOLX traded down $0.40 during trading hours on Wednesday, reaching $82.11. 1,447,533 shares of the company traded hands, compared to its average volume of 1,625,655. Hologic has a 1-year low of $64.02 and a 1-year high of $82.65. The stock has a market cap of $19.16 billion, a P/E ratio of 42.10, a P/E/G ratio of 2.65 and a beta of 0.99. The firm’s 50-day moving average is $74.82 and its 200-day moving average is $75.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.97 and a quick ratio of 3.29.

Hologic (NASDAQ:HOLX) last announced its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.04. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Hologic had a net margin of 17.59% and a return on equity of 19.65%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.93 EPS. Equities research analysts expect that Hologic will post 4.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Argus raised their price objective on Hologic from $89.00 to $95.00 and gave the stock a buy rating in a report on Thursday, May 9th. Evercore ISI increased their price objective on shares of Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a report on Tuesday. StockNews.com raised shares of Hologic from a hold rating to a buy rating in a research report on Friday, May 3rd. Stephens reaffirmed an overweight rating and set a $92.00 price target on shares of Hologic in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Hologic from $91.00 to $95.00 and gave the company an overweight rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Hologic currently has a consensus rating of Moderate Buy and an average price target of $87.45.

Insider Buying and Selling

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