Hologic (NASDAQ:HOLX) Issues Q3 2024 Earnings Guidance

Hologic (NASDAQ:HOLX) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.980-1.050 for the period, compared to the consensus estimate of 1.020. The company issued revenue guidance of $992.5 million-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Hologic also updated its FY 2024 guidance to 4.020-4.120 EPS.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HOLX shares. StockNews.com upgraded Hologic from a hold rating to a buy rating in a research report on Friday. Needham & Company LLC reaffirmed a buy rating and issued a $90.00 price objective on shares of Hologic in a report on Friday. UBS Group upped their price objective on Hologic from $78.00 to $79.00 and gave the stock a neutral rating in a research report on Friday, February 2nd. Citigroup upgraded Hologic from a neutral rating to a buy rating and increased their target price for the company from $80.00 to $95.00 in a research report on Wednesday, April 3rd. Finally, William Blair reiterated an outperform rating on shares of Hologic in a research report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $84.56.

Hologic Trading Down 0.8 %

Shares of HOLX stock traded down $0.61 during trading hours on Monday, reaching $75.93. The company’s stock had a trading volume of 1,585,120 shares, compared to its average volume of 1,752,628. The firm’s fifty day simple moving average is $76.13 and its 200 day simple moving average is $73.09. 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 market capitalization of $17.82 billion, a P/E ratio of 39.05, a P/E/G ratio of 2.55 and a beta of 1.01. Hologic has a one year low of $64.02 and a one year high of $86.74.

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

Insider Activity

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