Hologic (NASDAQ:HOLX) Updates FY24 Earnings Guidance

Hologic (NASDAQ:HOLX) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.02-$4.12 for the period, compared to the consensus earnings per share estimate of $4.03. The company issued revenue guidance of $4.00-$4.05 billion, compared to the consensus revenue estimate of $4.03 billion. Hologic also updated its Q3 guidance to $0.98-$1.05 EPS.

Hologic Trading Up 0.8 %

Shares of HOLX traded up $0.63 on Friday, reaching $76.54. 2,069,424 shares of the company’s stock were exchanged, compared to its average volume of 1,449,410. 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 stock has a market capitalization of $17.97 billion, a P/E ratio of 39.05, a price-to-earnings-growth ratio of 2.59 and a beta of 1.01. The business has a 50 day moving average price of $76.13 and a two-hundred day moving average price of $73.05. Hologic has a 12 month low of $64.02 and a 12 month high of $86.74.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results 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 business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. Hologic had a net margin of 11.78% and a return on equity of 18.81%. Hologic’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 earnings per share. Research analysts anticipate that Hologic will post 4.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Evercore ISI boosted 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. UBS Group boosted their price objective on shares of Hologic from $78.00 to $79.00 and gave the company a neutral rating in a report on Friday, February 2nd. William Blair restated an outperform rating on shares of Hologic in a report on Friday, February 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Hologic from $85.00 to $91.00 and gave the company an overweight rating in a report on Friday. Finally, Raymond James boosted their price objective on shares of Hologic from $85.00 to $88.00 and gave the company an outperform rating in a report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Hologic currently has an average rating of Moderate Buy and a consensus target price of $84.56.

Insider Activity

In other news, Director Scott T. Garrett sold 16,441 shares of the business’s 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 of the company’s stock, valued at $3,670,130.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Scott T. Garrett sold 16,441 shares of the business’s 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 of the company’s stock, valued at $3,670,130.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Charles J. Dockendorff sold 1,465 shares of the business’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 disclosure for this sale can be found here. Corporate 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.