Hologic (NASDAQ:HOLX) Announces Quarterly Earnings Results

Hologic (NASDAQ:HOLX) posted its quarterly earnings data on Thursday. The medical equipment provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05, Briefing.com reports. Hologic had a net margin of 12.98% and a return on equity of 18.91%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the firm posted $1.06 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. Hologic updated its Q3 guidance to $0.98-$1.05 EPS and its FY24 guidance to $4.02-$4.12 EPS.

Hologic Price Performance

NASDAQ HOLX opened at $75.91 on Friday. The company has a current ratio of 3.89, a quick ratio of 3.18 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average is $76.12 and its two-hundred day moving average is $72.95. The stock has a market cap of $17.82 billion, a price-to-earnings ratio of 35.98, a PEG ratio of 2.58 and a beta of 1.01. Hologic has a 12 month low of $64.02 and a 12 month high of $86.74.

Insider Activity

In other news, Director Charles J. Dockendorff sold 1,465 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $76.21, for a total transaction of $111,647.65. Following the transaction, the director now owns 1,572 shares in the company, valued at $119,802.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Charles J. Dockendorff sold 1,465 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $76.21, for a total value of $111,647.65. Following the completion of the transaction, the director now directly owns 1,572 shares of the company’s stock, valued at approximately $119,802.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Scott T. Garrett sold 16,441 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $75.50, for a total value of $1,241,295.50. Following the completion of the sale, the director now directly owns 48,611 shares of the company’s stock, valued at $3,670,130.50. The disclosure for this sale can be found here. Insiders own 1.75% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on HOLX. Raymond James lifted their price target on shares of Hologic from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. StockNews.com lowered Hologic from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Hologic in a research report on Wednesday, April 10th. UBS Group upped their price objective on Hologic from $78.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Finally, Evercore ISI increased their price objective on Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $83.75.

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.