Hologic (NASDAQ:HOLX) Updates Q3 Earnings Guidance

Hologic (NASDAQ:HOLX) updated its third quarter earnings guidance on Thursday. 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.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HOLX shares. Needham & Company LLC reissued a buy rating and set a $90.00 target price on shares of Hologic in a research note on Friday. StockNews.com upgraded Hologic from a hold rating to a buy rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Hologic from $85.00 to $91.00 and gave the stock an overweight rating in a research report on Friday. UBS Group increased their price target on shares of Hologic from $78.00 to $79.00 and gave the company a neutral rating in a report on Friday, February 2nd. Finally, Raymond James boosted their price objective on shares of Hologic from $85.00 to $88.00 and gave the stock an outperform rating in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $84.56.

Hologic Price Performance

Shares of NASDAQ HOLX traded up $0.63 during 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. The stock has a market capitalization of $17.97 billion, a PE ratio of 39.05, a price-to-earnings-growth ratio of 2.59 and a beta of 1.01. The stock has a 50-day moving average price of $76.13 and a two-hundred day moving average price of $73.05. Hologic has a twelve month low of $64.02 and a twelve month 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.

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, topping the consensus estimate of $0.98 by $0.05. Hologic had a return on equity of 18.81% and a net margin of 11.78%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. During the same period last year, the company posted $1.06 EPS. The business’s quarterly revenue was down .8% on a year-over-year basis. As a group, sell-side analysts predict that Hologic will post 4.08 earnings per share for the current year.

Insider Transactions at Hologic

In related news, Director Charles J. Dockendorff sold 1,465 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 1,572 shares in the company, valued at $119,802.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Charles J. Dockendorff sold 1,465 shares of the company’s 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 completion of the sale, the director now directly owns 1,572 shares of the company’s stock, valued at approximately $119,802.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Scott T. Garrett sold 16,441 shares of the firm’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 completion of the transaction, the director now directly owns 48,611 shares in the company, valued at $3,670,130.50. 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.