Hologic (NASDAQ:HOLX) Updates FY 2024 Earnings Guidance

Hologic (NASDAQ:HOLX) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 4.020-4.120 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HOLX. William Blair restated an outperform rating on shares of Hologic in a report on Friday, February 2nd. StockNews.com upgraded shares of Hologic from a hold rating to a buy rating in a report on Friday. Evercore ISI raised their target price 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. JPMorgan Chase & Co. raised their target price on shares of Hologic from $85.00 to $91.00 and gave the stock an overweight rating in a report on Friday. Finally, Citigroup upgraded shares of Hologic from a neutral rating to a buy rating and raised their target price for the stock from $80.00 to $95.00 in a report on Wednesday, April 3rd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Hologic has a consensus rating of Moderate Buy and a consensus price target of $84.56.

Hologic Trading Down 0.8 %

Hologic stock traded down $0.61 during midday trading 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. Hologic has a twelve month low of $64.02 and a twelve month high of $86.74. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.97 and a quick ratio of 3.29. The firm has a market cap of $17.82 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 2.55 and a beta of 1.01. The firm’s fifty day simple moving average is $76.13 and its two-hundred day simple moving average is $73.09.

Hologic (NASDAQ:HOLX) last released its 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. Hologic had a net margin of 11.78% and a return on equity of 18.91%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The company’s revenue was down .8% compared to the same quarter last year. Equities analysts anticipate that Hologic will post 4.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Scott T. Garrett sold 16,441 shares of the firm’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 owns 48,611 shares in the company, valued at approximately $3,670,130.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Charles J. Dockendorff sold 1,465 shares of the firm’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 owns 1,572 shares in the company, valued at approximately $119,802.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott T. Garrett sold 16,441 shares of the firm’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 owns 48,611 shares in the company, valued at approximately $3,670,130.50. The disclosure for this sale can be found here. 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.