Hologic (NASDAQ:HOLX) Releases FY 2024 Earnings Guidance

Hologic (NASDAQ:HOLX) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 4.020-4.120 for the period, compared to the consensus estimate of 4.030. The company issued revenue guidance of $4.0 billion-$4.1 billion, compared to the consensus revenue estimate of $4.0 billion. Hologic also updated its Q3 2024 guidance to 0.980-1.050 EPS.

Hologic Stock Down 0.8 %

NASDAQ:HOLX traded down $0.61 during trading hours on Monday, hitting $75.93. 1,585,120 shares of the company traded hands, 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 company has a market cap of $17.82 billion, a PE ratio of 39.05, a PEG ratio of 2.55 and a beta of 1.01. The firm’s 50-day simple moving average is $76.13 and its 200-day simple moving average is $73.09. Hologic has a one year low of $64.02 and a one year high of $86.74.

Hologic (NASDAQ:HOLX) last posted 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. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. Hologic had a return on equity of 18.91% and a net margin of 11.78%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 earnings per share. Equities analysts predict that Hologic will post 4.08 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on HOLX shares. StockNews.com raised Hologic from a hold rating to a buy rating in a report on Friday. Needham & Company LLC reaffirmed a buy rating and set a $90.00 price objective on shares of Hologic in a research note on Friday. Evercore ISI increased their target price on shares of Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a research note on Thursday, April 4th. Raymond James raised their price target on shares of Hologic from $85.00 to $88.00 and gave the company an outperform rating in a report on Friday, February 2nd. Finally, UBS Group upped their price target on shares of Hologic from $78.00 to $79.00 and gave the stock a neutral rating 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $84.56.

Insider Transactions at Hologic

In other Hologic news, Director Charles J. Dockendorff sold 1,465 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $76.21, for a total transaction of $111,647.65. Following the transaction, the director now directly owns 1,572 shares of the company’s stock, valued at approximately $119,802.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Scott T. Garrett sold 16,441 shares of Hologic 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 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 the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $76.21, for a total transaction of $111,647.65. Following the completion of the sale, the director now directly 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.

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.