Hologic (NASDAQ:HOLX) Updates Q3 Earnings Guidance

Hologic (NASDAQ:HOLX) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.98-$1.05 for the period, compared to the consensus earnings per share estimate of $1.02. The company issued revenue guidance of $992.5-$1, compared to the consensus revenue estimate of $1.01 billion. Hologic also updated its FY24 guidance to $4.02-$4.12 EPS.

Analyst Ratings Changes

A number of analysts have issued reports 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. StockNews.com upgraded shares of Hologic from a hold rating to a buy rating in a report on Friday. Evercore ISI upped their price target on shares of Hologic from $76.00 to $78.00 and gave the company an in-line rating in a report on Thursday, April 4th. Citigroup raised shares of Hologic from a neutral rating to a buy rating and boosted their price objective for the company from $80.00 to $95.00 in a research report on Wednesday, April 3rd. Finally, UBS Group upped their price target on shares of Hologic from $78.00 to $79.00 and gave the stock a neutral rating in a research report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $84.56.

Hologic Stock Performance

Hologic stock traded up $0.63 during mid-day trading on Friday, reaching $76.54. 2,069,424 shares of the company traded hands, compared to its average volume of 1,449,410. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.89 and a quick ratio of 3.18. Hologic has a fifty-two week low of $64.02 and a fifty-two week high of $86.74. The company has a market capitalization of $17.97 billion, a price-to-earnings ratio of 39.05, a price-to-earnings-growth ratio of 2.59 and a beta of 1.01. The firm’s fifty day moving average is $76.13 and its two-hundred day moving average is $73.05.

Hologic (NASDAQ:HOLX) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. Hologic had a net margin of 11.78% and a return on equity of 18.81%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 earnings per share. On average, equities research analysts expect that Hologic will post 4.08 earnings per share for the current fiscal year.

Insider Transactions at Hologic

In other news, Director Scott T. Garrett sold 16,441 shares of the stock in a transaction 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 sale, the director now owns 48,611 shares in the company, valued at $3,670,130.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Scott T. Garrett sold 16,441 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $75.50, for a total transaction of $1,241,295.50. Following the sale, the director now directly owns 48,611 shares of the company’s stock, valued at $3,670,130.50. The sale was disclosed in a legal 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 transaction of $111,647.65. Following the sale, the director now directly owns 1,572 shares in the company, 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.