Hologic (NASDAQ:HOLX) Issues Q3 Earnings Guidance

Hologic (NASDAQ:HOLX) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $0.98-$1.05 for the period, compared to the consensus EPS 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.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HOLX. Needham & Company LLC reaffirmed a buy rating and set a $90.00 target price on shares of Hologic in a report on Friday. William Blair reaffirmed an outperform rating on shares of Hologic in a report on Friday, February 2nd. JPMorgan Chase & Co. increased their price target on shares of Hologic from $85.00 to $91.00 and gave the stock an overweight rating in a research report on Friday. Citigroup upgraded shares of Hologic from a neutral rating to a buy rating and increased their price target for the stock from $80.00 to $95.00 in a research report on Wednesday, April 3rd. Finally, StockNews.com upgraded shares of Hologic from a hold rating to a buy rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Hologic has a consensus rating of Moderate Buy and an average price target of $84.56.

Hologic Price Performance

Hologic stock traded up $0.63 during mid-day trading on Friday, reaching $76.54. The company had a trading volume of 2,069,424 shares, compared to its average volume of 1,449,410. Hologic has a fifty-two week low of $64.02 and a fifty-two week high of $86.74. The company has a current ratio of 3.89, a quick ratio of 3.18 and a debt-to-equity ratio of 0.55. The company has a market cap of $17.97 billion, a P/E ratio of 39.05, a P/E/G ratio of 2.59 and a beta of 1.01. The business has a fifty day simple moving average of $76.13 and a 200 day simple moving average of $73.05.

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

Insider Buying and Selling at Hologic

In other news, Director Charles J. Dockendorff sold 1,465 shares of Hologic 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 transaction, the director now owns 1,572 shares in the company, valued at $119,802.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Scott T. Garrett sold 16,441 shares of Hologic 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 transaction, the director now owns 48,611 shares in the company, valued at $3,670,130.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles J. Dockendorff sold 1,465 shares of Hologic 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 transaction, the director now owns 1,572 shares in the company, valued at approximately $119,802.12. The disclosure for this sale can be found here. Company insiders own 1.75% of the company’s stock.

Hologic Company Profile

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.