Hologic (NASDAQ:HOLX) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Hologic (NASDAQ:HOLX) released its quarterly earnings data on Wednesday. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01, Zacks reports. Hologic had a net margin of 19.59% and a return on equity of 19.79%.

Hologic Price Performance

Shares of NASDAQ:HOLX traded up $1.22 during trading on Wednesday, reaching $72.80. The stock had a trading volume of 2,755,639 shares, compared to its average volume of 2,242,587. The business has a fifty day moving average price of $73.05 and a 200-day moving average price of $77.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.03 and a current ratio of 3.69. The stock has a market cap of $16.43 billion, a PE ratio of 21.86, a PEG ratio of 2.35 and a beta of 0.98. Hologic has a 1-year low of $68.61 and a 1-year high of $84.67.

Analyst Ratings Changes

A number of brokerages recently weighed in on HOLX. William Blair reaffirmed an “outperform” rating on shares of Hologic in a research report on Monday, January 13th. Mizuho reduced their price objective on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Wolfe Research initiated coverage on shares of Hologic in a research note on Friday, December 13th. They issued a “peer perform” rating for the company. Needham & Company LLC downgraded Hologic from a “buy” rating to a “hold” rating and set a $90.00 price target on the stock. in a research report on Monday. Finally, Royal Bank of Canada raised their price objective on Hologic from $86.00 to $89.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 5th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.92.

Insiders Place Their Bets

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of Hologic stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total value of $1,897,507.04. Following the sale, the chief operating officer now owns 27,957 shares in the company, valued at $2,134,237.38. The trade was a 47.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.88% 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.