Hologic (NASDAQ:HOLX) Updates Q3 2024 Earnings Guidance

Hologic (NASDAQ:HOLX) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.980-1.050 for the period, compared to the consensus estimate of 1.020. The company issued revenue guidance of $992.5 million-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Hologic also updated its FY 2024 guidance to 4.020-4.120 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Citigroup raised Hologic from a neutral rating to a buy rating and increased their price target for the stock from $80.00 to $95.00 in a research report on Wednesday, April 3rd. Raymond James upped 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. UBS Group lifted their target price on shares of Hologic from $78.00 to $79.00 and gave the company a neutral rating in a report on Friday, February 2nd. StockNews.com raised shares of Hologic from a hold rating to a buy rating in a report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Hologic from $85.00 to $91.00 and gave the company an overweight rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Hologic presently has an average rating of Moderate Buy and an average price target of $84.56.

Hologic Trading Down 0.8 %

NASDAQ HOLX traded down $0.61 on Monday, reaching $75.93. The stock had a trading volume of 1,585,120 shares, compared to its average volume of 1,752,628. The company has a quick ratio of 3.29, a current ratio of 3.97 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average price of $76.13 and a two-hundred day moving average price of $73.09. Hologic has a 12-month low of $64.02 and a 12-month high of $86.74. The firm has a market capitalization of $17.82 billion, a price-to-earnings ratio of 39.05, a P/E/G ratio of 2.55 and a beta of 1.01.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. Hologic had a net margin of 11.78% and a return on equity of 18.91%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 earnings per share. As a group, sell-side analysts forecast that Hologic will post 4.08 EPS for the current fiscal year.

Insider Activity at Hologic

In related news, Director Charles J. Dockendorff sold 1,465 shares of the 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 transaction, the director now owns 1,572 shares of the company’s stock, valued at $119,802.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Hologic news, Director Charles J. Dockendorff sold 1,465 shares of the stock in a transaction that occurred 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 $119,802.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott T. Garrett sold 16,441 shares of the business’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 sale, 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 owned by corporate insiders.

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.