Hologic, Inc. (NASDAQ:HOLX) Forecasted to Post Q3 2024 Earnings of $1.02 Per Share

Hologic, Inc. (NASDAQ:HOLX) – Stock analysts at Leerink Partnrs cut their Q3 2024 earnings estimates for shares of Hologic in a research note issued to investors on Thursday, May 2nd. Leerink Partnrs analyst P. Souda now anticipates that the medical equipment provider will post earnings of $1.02 per share for the quarter, down from their previous estimate of $1.04. The consensus estimate for Hologic’s current full-year earnings is $4.08 per share. Leerink Partnrs also issued estimates for Hologic’s Q4 2024 earnings at $1.03 EPS, FY2024 earnings at $4.06 EPS, Q1 2025 earnings at $1.10 EPS, Q2 2025 earnings at $1.11 EPS, Q3 2025 earnings at $1.14 EPS, Q4 2025 earnings at $1.13 EPS and FY2025 earnings at $4.47 EPS.

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

Other research analysts have also recently issued reports about the stock. William Blair reissued an “outperform” rating on shares of Hologic in a research note on Friday, February 2nd. StockNews.com upgraded shares of Hologic from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. lifted their target price on Hologic from $85.00 to $91.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Citigroup raised shares of Hologic from a “neutral” rating to a “buy” rating and lifted their price target for the company from $80.00 to $95.00 in a research report on Wednesday, April 3rd. Finally, Evercore ISI upped their target price on Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.56.

Hologic Trading Up 0.2 %

Shares of HOLX opened at $76.10 on Monday. The firm has a market capitalization of $17.86 billion, a P/E ratio of 38.83, a PEG ratio of 2.55 and a beta of 1.01. 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 firm’s 50-day moving average is $76.16 and its two-hundred day moving average is $73.20. Hologic has a twelve month low of $64.02 and a twelve month high of $86.74.

Institutional Trading of Hologic

A number of hedge funds and other institutional investors have recently made changes to their positions in HOLX. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Hologic in the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC acquired a new stake in Hologic during the third quarter valued at $29,000. NBC Securities Inc. bought a new stake in shares of Hologic in the 3rd quarter valued at approximately $33,000. Deseret Mutual Benefit Administrators raised its holdings in Hologic by 42.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 522 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 155 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in Hologic by 69.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 554 shares of the medical equipment provider’s stock worth $40,000 after acquiring an additional 227 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Charles J. Dockendorff sold 1,465 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $76.21, for a total value of $111,647.65. Following the transaction, the director now directly owns 1,572 shares in the company, valued at approximately $119,802.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Scott T. Garrett sold 16,441 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 48,611 shares of the company’s stock, valued at approximately $3,670,130.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 disclosure for this sale can be found here. 1.75% of the stock is currently owned by company insiders.

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.