Hologic, Inc. (NASDAQ:HOLX) Expected to Announce Quarterly Sales of $1.02 Billion

Equities analysts forecast that Hologic, Inc. (NASDAQ:HOLX) will announce $1.02 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Hologic’s earnings. The lowest sales estimate is $1.01 billion and the highest is $1.03 billion. Hologic reported sales of $1.35 billion in the same quarter last year, which suggests a negative year over year growth rate of 24.4%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Monday, November 1st.

According to Zacks, analysts expect that Hologic will report full year sales of $5.34 billion for the current fiscal year, with estimates ranging from $5.32 billion to $5.36 billion. For the next fiscal year, analysts forecast that the firm will report sales of $3.91 billion, with estimates ranging from $3.80 billion to $4.14 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Hologic.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Wednesday, July 28th. The medical equipment provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.21. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.03 billion. Hologic had a return on equity of 67.74% and a net margin of 35.98%. During the same period in the previous year, the company posted $0.75 earnings per share.

A number of analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Hologic in a report on Thursday, July 29th. They issued a “buy” rating and a $95.00 price target on the stock. Raymond James lifted their target price on Hologic from $78.00 to $88.00 and gave the company an “outperform” rating in a research report on Tuesday, August 3rd. William Blair reaffirmed an “outperform” rating on shares of Hologic in a research report on Friday, July 30th. Evercore ISI raised Hologic from an “in-line” rating to an “outperform” rating and set a $78.00 target price on the stock in a research report on Tuesday, July 6th. Finally, Morgan Stanley lowered their target price on Hologic from $77.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, July 30th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Hologic has an average rating of “Buy” and an average price target of $85.50.

Hedge funds and other institutional investors have recently made changes to their positions in the business. IndexIQ Advisors LLC grew its position in shares of Hologic by 3.3% in the second quarter. IndexIQ Advisors LLC now owns 4,210 shares of the medical equipment provider’s stock valued at $281,000 after purchasing an additional 135 shares during the last quarter. CX Institutional grew its position in shares of Hologic by 38.1% in the second quarter. CX Institutional now owns 602 shares of the medical equipment provider’s stock valued at $40,000 after purchasing an additional 166 shares during the last quarter. Lido Advisors LLC grew its position in shares of Hologic by 3.5% in the first quarter. Lido Advisors LLC now owns 5,086 shares of the medical equipment provider’s stock valued at $378,000 after purchasing an additional 170 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Hologic by 2.0% in the first quarter. Rockefeller Capital Management L.P. now owns 8,682 shares of the medical equipment provider’s stock valued at $645,000 after purchasing an additional 171 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. grew its position in shares of Hologic by 1.8% in the second quarter. Cutter & CO Brokerage Inc. now owns 9,965 shares of the medical equipment provider’s stock valued at $665,000 after purchasing an additional 175 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Hologic stock traded up $0.33 during trading on Wednesday, reaching $70.16. The stock had a trading volume of 927,575 shares, compared to its average volume of 2,051,037. The company has a market capitalization of $17.78 billion, a price-to-earnings ratio of 8.99, a P/E/G ratio of 0.69 and a beta of 1.17. The stock has a fifty day moving average price of $76.39 and a two-hundred day moving average price of $71.04. Hologic has a 52 week low of $60.10 and a 52 week high of $85.00. The company has a current ratio of 1.65, a quick ratio of 1.31 and a debt-to-equity ratio of 0.69.

About Hologic

Hologic, Inc engages in the development, manufacture, and supply of diagnostics products, medical imaging systems, and surgical products dedicated to serve the healthcare needs of women. It operates through the following segments: Breast Health, Diagnostics, GYN Surgical, and Skeletal Health. The Breast Health segment includes a portfolio of solutions for breast cancer care for radiology, pathology, and surgery.

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