Hologic (NASDAQ:HOLX) Issues FY 2024 Earnings Guidance

Hologic (NASDAQ:HOLX) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 4.020-4.120 for the period, compared to the consensus estimate of 4.030. The company issued revenue guidance of $4.0 billion-$4.1 billion, compared to the consensus revenue estimate of $4.0 billion. Hologic also updated its Q3 2024 guidance to 0.980-1.050 EPS.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Hologic from $85.00 to $91.00 and gave the company an overweight rating in a report on Friday. William Blair reiterated an outperform rating on shares of Hologic in a research report on Friday, February 2nd. StockNews.com raised shares of Hologic from a hold rating to a buy rating in a research note on Friday. Citigroup upgraded Hologic from a neutral rating to a buy rating and upped their target price for the stock from $80.00 to $95.00 in a report on Wednesday, April 3rd. Finally, Needham & Company LLC restated a buy rating and set a $90.00 price target on shares of Hologic in a research report on Friday. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Hologic currently has a consensus rating of Moderate Buy and an average target price of $84.56.

Hologic Stock Down 0.8 %

NASDAQ:HOLX traded down $0.61 on Monday, reaching $75.93. 1,585,120 shares of the stock traded hands, compared to its average volume of 1,752,628. The company’s fifty day simple moving average is $76.13 and its 200 day simple moving average is $73.09. The company has a market capitalization of $17.82 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 2.55 and a beta of 1.01. Hologic has a 12 month low of $64.02 and a 12 month high of $86.74. The company has a current ratio of 3.97, a quick ratio of 3.29 and a debt-to-equity ratio of 0.52.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. Hologic had a return on equity of 18.91% and a net margin of 11.78%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the company posted $1.06 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. Equities analysts predict that Hologic will post 4.08 EPS for the current fiscal year.

Insider Transactions at Hologic

In other Hologic news, Director Charles J. Dockendorff sold 1,465 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $76.21, for a total transaction of $111,647.65. Following the completion of the sale, the director now directly owns 1,572 shares in the company, valued at approximately $119,802.12. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Scott T. Garrett sold 16,441 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $75.50, for a total value of $1,241,295.50. Following the transaction, the director now owns 48,611 shares of the company’s stock, valued at $3,670,130.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles J. Dockendorff sold 1,465 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $76.21, for a total transaction of $111,647.65. Following the sale, the director now owns 1,572 shares of the company’s stock, valued at $119,802.12. 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.