Hologic (NASDAQ:HOLX) Issues Quarterly Earnings Results

Hologic (NASDAQ:HOLX) announced its earnings results on Monday. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01, Briefing.com reports. The company had revenue of $987.90 million for the quarter, compared to analysts’ expectations of $978.25 million. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 EPS.

Hologic Stock Performance

Shares of HOLX stock traded up $1.69 during trading hours on Wednesday, hitting $80.49. The stock had a trading volume of 2,464,389 shares, compared to its average volume of 1,595,271. The firm has a market capitalization of $18.70 billion, a PE ratio of 26.80, a PEG ratio of 2.98 and a beta of 0.98. Hologic has a twelve month low of $66.93 and a twelve month high of $84.67. The stock’s 50 day moving average is $81.05 and its 200 day moving average is $78.11. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.32.

Wall Street Analyst Weigh In

HOLX has been the topic of several recent research reports. Leerink Partners lowered their price target on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Royal Bank of Canada boosted their price target on shares of Hologic from $86.00 to $89.00 and gave the company a “sector perform” rating in a research report on Tuesday. Stephens restated an “overweight” rating and issued a $92.00 price objective on shares of Hologic in a report on Tuesday, July 30th. UBS Group upped their target price on shares of Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. upped their target price on shares of Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.25.

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.