Hologic (NASDAQ:HOLX) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Hologic (NASDAQ:HOLX) announced its quarterly earnings data on Monday. The medical equipment provider reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01), Briefing.com reports. The business had revenue of $987.90 million for the quarter, compared to the consensus estimate of $978.25 million. Hologic had a net margin of 17.59% and a return on equity of 19.53%. Hologic’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.89 EPS.

Hologic Price Performance

NASDAQ HOLX opened at $83.72 on Tuesday. The company has a 50 day simple moving average of $80.99 and a 200-day simple moving average of $78.02. Hologic has a 52-week low of $66.93 and a 52-week high of $84.67. The firm has a market capitalization of $19.45 billion, a price-to-earnings ratio of 28.48, a price-to-earnings-growth ratio of 2.98 and a beta of 0.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.99 and a quick ratio of 3.32.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HOLX shares. Citigroup cut Hologic from a “buy” rating to a “neutral” rating and cut their price target for the company from $95.00 to $85.00 in a report on Tuesday, October 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $82.00 price target on shares of Hologic in a research note on Friday, August 16th. Evercore ISI raised their price objective on shares of Hologic from $78.00 to $82.00 and gave the company an “in-line” rating in a research note on Tuesday, October 1st. Mizuho upped their target price on Hologic from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Stephens reiterated an “overweight” rating and set a $92.00 price target on shares of Hologic in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $87.50.

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.