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 guidance of 0.980-1.050 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

Several analysts have recently commented on HOLX shares. Citigroup upgraded shares of Hologic from a neutral rating to a buy rating and increased their target price for the company from $80.00 to $95.00 in a report on Wednesday, April 3rd. Needham & Company LLC restated a buy rating and set a $90.00 price objective on shares of Hologic in a report on Friday. William Blair restated an outperform rating on shares of Hologic in a report on Friday, February 2nd. JPMorgan Chase & Co. raised their price objective on shares of Hologic from $85.00 to $91.00 and gave the stock an overweight rating in a report on Friday. Finally, Evercore ISI raised their price objective on shares of Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $84.56.

Hologic Price Performance

HOLX traded down $0.61 on Monday, reaching $75.93. The company had a trading volume of 1,585,120 shares, compared to its average volume of 1,752,628. The business has a 50 day simple moving average of $76.13 and a 200 day simple moving average of $73.09. The company has a market cap 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. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.29 and a current ratio of 3.97. Hologic has a 52-week low of $64.02 and a 52-week high of $86.74.

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

Insider Activity

In related 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 transaction, the director now owns 1,572 shares in the company, valued at approximately $119,802.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Hologic news, Director Scott T. Garrett sold 16,441 shares of the business’s 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 completion of the transaction, the director now owns 48,611 shares of the company’s stock, valued at approximately $3,670,130.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $111,647.65. Following the sale, the director now directly owns 1,572 shares of the company’s stock, valued at approximately $119,802.12. The disclosure for this sale can be found here. Company 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.