Hologic (NASDAQ:HOLX) Issues Earnings Results

Hologic (NASDAQ:HOLX) issued its quarterly earnings results on Monday. The medical equipment provider reported $1.06 EPS for the quarter, topping the consensus estimate of $1.02 by $0.04, Briefing.com reports. Hologic had a return on equity of 18.91% and a net margin of 11.78%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the business posted $0.93 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis.

Hologic Price Performance

NASDAQ:HOLX opened at $79.64 on Tuesday. 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 firm has a market cap of $18.59 billion, a PE ratio of 40.63, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. Hologic has a 12 month low of $64.02 and a 12 month high of $81.00. The company’s 50-day moving average price is $74.66 and its two-hundred day moving average price is $75.08.

Insider Transactions at Hologic

In other news, Director Christiana Stamoulis sold 9,039 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total value of $718,600.50. Following the transaction, the director now directly owns 45,472 shares of the company’s stock, valued at approximately $3,615,024. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Christiana Stamoulis sold 9,039 shares of Hologic stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total value of $718,600.50. Following the completion of the transaction, the director now directly owns 45,472 shares of the company’s stock, valued at $3,615,024. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen P. Macmillan sold 3,672 shares of the company’s stock in a transaction dated 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. Company insiders own 1.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Hologic from $85.00 to $91.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Hologic in a research report on Tuesday. Evercore ISI cut their price target on Hologic from $78.00 to $76.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Argus raised their price objective on Hologic from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, StockNews.com raised Hologic from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $86.45.

About Hologic

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.