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

Hologic (NASDAQ:HOLX) posted its quarterly earnings results on Thursday. The medical equipment provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05, Briefing.com reports. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. Hologic had a return on equity of 18.81% and a net margin of 11.78%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.06 EPS. Hologic updated its Q3 guidance to $0.98-$1.05 EPS and its FY24 guidance to $4.02-$4.12 EPS.

Hologic Price Performance

Shares of NASDAQ HOLX opened at $76.54 on Friday. 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 company has a market capitalization of $17.97 billion, a price-to-earnings ratio of 39.05, a price-to-earnings-growth ratio of 2.56 and a beta of 1.01. Hologic has a twelve month low of $64.02 and a twelve month high of $86.74. The business has a 50 day simple moving average of $76.13 and a 200-day simple moving average of $73.02.

Insider Buying and Selling

In other Hologic 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 transaction of $1,241,295.50. Following the completion of the sale, the director now owns 48,611 shares in the company, valued at $3,670,130.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Charles J. Dockendorff sold 1,465 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 1,572 shares of the company’s stock, valued at approximately $119,802.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott T. Garrett sold 16,441 shares of the business’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 transaction, 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. 1.75% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup upgraded Hologic from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $95.00 in a report on Wednesday, April 3rd. William Blair reaffirmed an “outperform” rating on shares of Hologic in a research report on Friday, February 2nd. Raymond James raised their target price on Hologic from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. JPMorgan Chase & Co. increased their price objective on shares of Hologic from $85.00 to $91.00 and gave the company an “overweight” rating in a research report on Friday. Finally, StockNews.com upgraded shares of Hologic from a “hold” rating to a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.56.

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.