Hologic (NASDAQ:HOLX) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Hologic (NASDAQ:HOLX) released its earnings results on Thursday. The medical equipment provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05, Briefing.com reports. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. Hologic had a net margin of 12.98% and a return on equity of 18.91%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.06 earnings per share. Hologic updated its Q3 guidance to $0.98-$1.05 EPS and its FY24 guidance to $4.02-$4.12 EPS.

Hologic Trading Down 0.5 %

Hologic stock traded down $0.37 during midday trading on Thursday, reaching $75.91. The stock had a trading volume of 1,793,789 shares, compared to its average volume of 1,750,870. The company has a quick ratio of 3.18, a current ratio of 3.89 and a debt-to-equity ratio of 0.55. The firm has a market cap of $17.82 billion, a price-to-earnings ratio of 36.15, a price-to-earnings-growth ratio of 2.57 and a beta of 1.01. Hologic has a 52-week low of $64.02 and a 52-week high of $86.74. The company has a fifty day moving average of $76.12 and a 200 day moving average of $72.95.

Analyst Ratings Changes

Several brokerages have commented on HOLX. Evercore ISI increased their price objective 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 Hologic from a “neutral” rating to a “buy” rating and increased their price target for the company from $80.00 to $95.00 in a research note on Wednesday, April 3rd. Raymond James lifted their price objective on Hologic from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. UBS Group upped their price objective on Hologic from $78.00 to $79.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of Hologic in a report on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $87.00.

Insider Buying and Selling at Hologic

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