Hologic (NASDAQ:HOLX) Updates Q3 Earnings Guidance

Hologic (NASDAQ:HOLX) issued an update on its third quarter earnings guidance on Thursday morning. 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 research analysts recently commented on the company. Raymond James raised their price target on Hologic from $85.00 to $88.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. UBS Group lifted their target price on Hologic from $78.00 to $79.00 and gave the company a neutral rating in a research report on Friday, February 2nd. Needham & Company LLC reiterated a buy rating and issued a $90.00 target price on shares of Hologic in a research report on Friday. StockNews.com upgraded Hologic from a hold rating to a buy rating in a research report on Friday. Finally, Evercore ISI lifted their target price on Hologic from $76.00 to $78.00 and gave the company an in-line rating in a research report on Thursday, April 4th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $84.56.

Hologic Stock Up 0.8 %

Shares of NASDAQ HOLX traded up $0.63 during midday trading on Friday, hitting $76.54. 2,069,424 shares of the stock traded hands, compared to its average volume of 1,449,410. 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 one year low of $64.02 and a one year high of $86.74. The company has a market cap of $17.97 billion, a PE ratio of 39.05, a P/E/G ratio of 2.59 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.18 and a current ratio of 3.89.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the company posted $1.06 earnings per share. Hologic’s revenue was down .8% compared to the same quarter last year. On average, equities analysts predict that Hologic will post 4.08 EPS for the current year.

Insider Buying and Selling at Hologic

In other Hologic news, Director Scott T. Garrett sold 16,441 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was 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 owns 48,611 shares in the company, valued at approximately $3,670,130.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Scott T. Garrett sold 16,441 shares of the company’s stock in a transaction 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 approximately $3,670,130.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $111,647.65. Following the transaction, 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.