Hologic (NASDAQ:HOLX) Issues 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.

Analyst Ratings Changes

A number of research analysts have recently commented on HOLX shares. William Blair reaffirmed an outperform rating on shares of Hologic in a research note on Friday, February 2nd. StockNews.com lowered shares of Hologic from a buy rating to a hold rating in a research report on Friday, March 8th. Raymond James increased their target price on Hologic from $85.00 to $88.00 and gave the company an outperform rating in a research report on Friday, February 2nd. Evercore ISI boosted their price objective on Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a research note on Thursday, April 4th. Finally, Citigroup raised shares of Hologic from a neutral rating to a buy rating and boosted their price target for the company from $80.00 to $95.00 in a research report on Wednesday, April 3rd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $87.00.

Hologic Price Performance

Shares of HOLX stock traded down $0.37 during trading hours on Thursday, hitting $75.91. The company had a trading volume of 1,777,176 shares, compared to its average volume of 1,750,651. Hologic has a 12 month low of $64.02 and a 12 month high of $86.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.18 and a current ratio of 3.89. The firm’s fifty day moving average is $76.12 and its 200 day moving average is $72.95. The firm has a market capitalization of $17.82 billion, a price-to-earnings ratio of 36.15, a PEG ratio of 2.57 and a beta of 1.01.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Thursday, February 1st. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.03. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $989.32 million. Hologic had a return on equity of 18.91% and a net margin of 12.98%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS. On average, sell-side analysts predict that Hologic will post 4.01 EPS for the current fiscal year.

Insider Transactions at Hologic

In other news, Director Charles J. Dockendorff sold 1,465 shares of the company’s 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 completion of the sale, the director now directly owns 1,572 shares in the company, valued at approximately $119,802.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Scott T. Garrett sold 16,441 shares of Hologic stock in a transaction that occurred on Thursday, March 14th. The stock was 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 of the company’s stock, valued at $3,670,130.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles J. Dockendorff sold 1,465 shares of the firm’s stock in a transaction that occurred 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 owns 1,572 shares of the company’s stock, 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.