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.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Evercore ISI upped their target price on Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a research note on Thursday, April 4th. Raymond James raised 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. StockNews.com lowered shares of Hologic from a buy rating to a hold rating in a report on Friday, March 8th. Needham & Company LLC reiterated a buy rating and issued a $90.00 target price on shares of Hologic in a report on Wednesday, April 10th. Finally, William Blair reaffirmed an outperform rating on shares of Hologic in a research note on Friday, February 2nd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $87.00.

Hologic Stock Down 0.5 %

Shares of NASDAQ HOLX traded down $0.37 during midday trading on Thursday, hitting $75.91. The stock had a trading volume of 1,777,176 shares, compared to its average volume of 1,750,651. The business’s 50 day moving average is $76.12 and its 200-day moving average is $72.95. The company has a quick ratio of 3.18, a current ratio of 3.89 and a debt-to-equity ratio of 0.55. Hologic has a 52 week low of $64.02 and a 52 week high of $86.74. The company has a market cap of $17.82 billion, a P/E ratio of 36.15, a PEG ratio of 2.57 and a beta of 1.01.

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

Insider Buying and Selling 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 value 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Hologic 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 transaction, the director now owns 48,611 shares in the company, valued at approximately $3,670,130.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles J. Dockendorff sold 1,465 shares of the 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 of the company’s stock, valued at approximately $119,802.12. The disclosure for this sale can be found here. 1.75% of the stock is owned by corporate insiders.

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.