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

Hologic (NASDAQ:HOLX) announced its earnings results on Thursday. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05, Briefing.com reports. Hologic had a return on equity of 18.91% and a net margin of 12.98%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the firm earned $1.06 earnings per share. Hologic’s revenue for the quarter was down .8% compared to the same quarter last year. 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 HOLX stock traded down $0.37 during mid-day trading on Thursday, reaching $75.91. The company’s stock had a trading volume of 1,793,789 shares, compared to its average volume of 1,750,870. The firm’s 50-day moving average is $76.12 and its two-hundred day moving average is $72.95. 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 has a 1-year low of $64.02 and a 1-year high of $86.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.18 and a current ratio of 3.89.

Wall Street Analyst Weigh In

Several brokerages recently commented on HOLX. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Hologic in a research report on Wednesday, April 10th. Raymond James raised their price objective on Hologic from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Citigroup upgraded shares of Hologic from a “neutral” rating to a “buy” rating and increased their target price for the stock from $80.00 to $95.00 in a research report on Wednesday, April 3rd. StockNews.com downgraded Hologic from a “buy” rating to a “hold” rating in a research note on Friday, March 8th. Finally, UBS Group boosted their target price on shares of Hologic from $78.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $87.00.

Insiders Place Their Bets

In other news, Director Charles J. Dockendorff sold 1,465 shares of the company’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 sale, 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 SEC, which can be accessed through the SEC website. In other Hologic news, Director Charles J. Dockendorff sold 1,465 shares of Hologic 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 transaction, the director now owns 1,572 shares in the company, valued at approximately $119,802.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Scott T. Garrett sold 16,441 shares of the stock in a transaction dated 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 sale, the director now directly owns 48,611 shares in the company, valued at approximately $3,670,130.50. The disclosure for this sale can be found here. Corporate 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.