Hologic (NASDAQ:HOLX) Issues Q4 Earnings Guidance

Hologic (NASDAQ:HOLX) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.97-1.04 for the period, compared to the consensus EPS estimate of $1.04. The company issued revenue guidance of $970-985 million, compared to the consensus revenue estimate of $1.00 billion. Hologic also updated its FY 2024 guidance to 4.040-4.110 EPS.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HOLX. Argus increased their price objective on shares of Hologic from $89.00 to $95.00 and gave the company a buy rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. lifted their price objective on Hologic from $91.00 to $95.00 and gave the stock an overweight rating in a report on Tuesday. Citigroup raised Hologic from a neutral rating to a buy rating and increased their target price for the company from $80.00 to $95.00 in a report on Wednesday, April 3rd. Evercore ISI boosted their price target on Hologic from $76.00 to $78.00 and gave the company an in-line rating in a research note on Tuesday. Finally, StockNews.com upgraded shares of Hologic from a hold rating to a buy rating in a research report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Hologic has an average rating of Moderate Buy and an average target price of $87.00.

Hologic Stock Up 2.4 %

Shares of Hologic stock traded up $1.92 during trading on Tuesday, hitting $81.56. 621,814 shares of the stock traded hands, compared to its average volume of 1,611,722. 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 stock’s fifty day simple moving average is $74.66 and its 200 day simple moving average is $75.08. The firm has a market cap of $19.03 billion, a P/E ratio of 41.36, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. Hologic has a 52-week low of $64.02 and a 52-week high of $81.68.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Monday, July 29th. The medical equipment provider reported $1.06 EPS for the quarter, beating the consensus estimate of $1.02 by $0.04. Hologic had a net margin of 11.78% and a return on equity of 18.91%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the business posted $0.93 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that Hologic will post 4.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hologic news, CEO Stephen P. Macmillan sold 3,672 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total value of $294,237.36. Following the completion of the transaction, the chief executive officer now directly owns 1,157,562 shares in the company, valued at $92,755,443.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hologic news, Director Christiana Stamoulis sold 9,039 shares of Hologic stock in a transaction on Wednesday, July 17th. The shares were 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 $3,615,024. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen P. Macmillan sold 3,672 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total value of $294,237.36. Following the sale, the chief executive officer now owns 1,157,562 shares of the company’s stock, 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 company insiders.

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.