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 Stock Up 0.8 %

Hologic stock traded up $0.63 during trading hours on Friday, reaching $76.54. The stock had a trading volume of 2,069,424 shares, compared to its average volume of 1,449,410. The company has a market cap of $17.97 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 2.59 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.89 and a quick ratio of 3.18. The business’s 50 day moving average price is $76.13 and its 200-day moving average price is $73.05. Hologic has a 52 week low of $64.02 and a 52 week high of $86.74.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. Hologic had a net margin of 11.78% and a return on equity of 18.81%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the company earned $1.06 EPS. Hologic’s quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts anticipate that Hologic will post 4.08 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Citigroup raised Hologic from a neutral rating to a buy rating and raised their target price for the stock from $80.00 to $95.00 in a research note on Wednesday, April 3rd. 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. Evercore ISI lifted their price objective on Hologic from $76.00 to $78.00 and gave the company an in-line rating in a research note on Thursday, April 4th. StockNews.com upgraded Hologic from a hold rating to a buy rating in a research note on Friday. Finally, William Blair reissued an outperform rating on shares of Hologic in a report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $84.56.

Insider Activity

In related news, Director Charles J. Dockendorff sold 1,465 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 1,572 shares of the company’s stock, valued at $119,802.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Scott T. Garrett sold 16,441 shares of Hologic stock in a transaction dated 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 directly owns 48,611 shares in the company, valued at $3,670,130.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles J. Dockendorff sold 1,465 shares of Hologic stock in a transaction dated 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 $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.