Hologic (NASDAQ:HOLX) Issues FY 2024 Earnings Guidance

Hologic (NASDAQ:HOLX) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 4.040-4.110 for the period, compared to the consensus EPS estimate of 4.070. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $4.0 billion. Hologic also updated its Q4 guidance to $0.97-1.04 EPS.

Analysts Set New Price Targets

HOLX has been the subject of a number of research reports. Evercore ISI lowered their price objective on Hologic from $78.00 to $76.00 and set an in-line rating for the company in a research report on Tuesday, July 2nd. Argus boosted their price target on shares of Hologic from $89.00 to $95.00 and gave the stock a buy rating in a research note on Thursday, May 9th. Stephens began coverage on shares of Hologic in a research note on Thursday, June 27th. They issued an overweight rating and a $87.00 price objective on the stock. Needham & Company LLC reiterated a buy rating and set a $90.00 target price on shares of Hologic in a research report on Friday, May 3rd. Finally, Citigroup upgraded Hologic from a neutral rating to a buy rating and raised their price target for the stock from $80.00 to $95.00 in a research report on Wednesday, April 3rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $85.55.

Hologic Stock Up 1.3 %

Shares of NASDAQ:HOLX traded up $1.01 during trading on Monday, hitting $79.64. 2,196,136 shares of the company were exchanged, compared to its average volume of 1,618,592. Hologic has a fifty-two week low of $64.02 and a fifty-two week high of $81.00. The stock has a market cap of $18.59 billion, a price-to-earnings ratio of 39.84, a P/E/G ratio of 2.62 and a beta of 0.99. The company has a current ratio of 3.97, a quick ratio of 3.29 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average price of $74.56 and a two-hundred day moving average price of $75.03.

Hologic (NASDAQ:HOLX) last announced its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.03 EPS for the quarter, beating 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 last year, the firm posted $1.06 EPS. The company’s quarterly revenue was down .8% on a year-over-year basis. As a group, research analysts anticipate that Hologic will post 4.08 earnings per share for the current fiscal year.

Insider Transactions at Hologic

In other news, CEO Stephen P. Macmillan sold 3,672 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total value of $294,237.36. Following the transaction, the chief executive officer now owns 1,157,562 shares of the company’s stock, valued at $92,755,443.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Hologic news, Director Christiana Stamoulis sold 9,039 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total value of $718,600.50. Following the completion of the sale, the director now owns 45,472 shares of the company’s stock, valued at approximately $3,615,024. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen P. Macmillan sold 3,672 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total transaction of $294,237.36. Following the transaction, the chief executive officer now owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The disclosure for this sale can be found here. 1.75% of the stock is currently 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.