Hologic (NASDAQ:HOLX) Releases FY24 Earnings Guidance

Hologic (NASDAQ:HOLX) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.02-$4.12 for the period, compared to the consensus 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 Trading Up 0.8 %

Shares of NASDAQ:HOLX traded up $0.63 during trading on Friday, hitting $76.54. 2,069,424 shares of the company’s stock were exchanged, compared to its average volume of 1,449,410. Hologic has a 1-year low of $64.02 and a 1-year high of $86.74. The firm has a 50-day moving average price of $76.13 and a two-hundred day moving average price of $73.05. 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 firm has a market cap of $17.97 billion, a P/E ratio of 39.05, a PEG ratio of 2.59 and a beta of 1.01.

Hologic (NASDAQ:HOLX) last released its quarterly earnings data 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 business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the firm earned $1.06 EPS. Hologic’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts predict that Hologic will post 4.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

HOLX has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Hologic from $85.00 to $91.00 and gave the stock an overweight rating in a research note on Friday. Citigroup raised shares of Hologic from a neutral rating to a buy rating and lifted their price target for the company from $80.00 to $95.00 in a research note on Wednesday, April 3rd. StockNews.com upgraded shares of Hologic from a hold rating to a buy rating in a report on Friday. Needham & Company LLC reiterated a buy rating and issued a $90.00 price objective on shares of Hologic in a report on Friday. Finally, Raymond James lifted their price objective on shares of Hologic from $85.00 to $88.00 and gave the company an outperform rating in a report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $84.56.

Insider Buying and Selling

In related 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 transaction, the director now directly owns 48,611 shares in the company, valued at $3,670,130.50. The sale was disclosed in a filing with the SEC, which is available through this link. In other Hologic news, Director Charles J. Dockendorff sold 1,465 shares of the company’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Scott T. Garrett sold 16,441 shares of the company’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 transaction, the director now owns 48,611 shares in the company, valued at $3,670,130.50. The disclosure for this sale can be found here. 1.75% of the stock is owned by corporate insiders.

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.