Piper Sandler Weighs in on Hologic, Inc.’s Q2 2020 Earnings (NASDAQ:HOLX)

Hologic, Inc. (NASDAQ:HOLX) – Equities researchers at Piper Sandler decreased their Q2 2020 earnings estimates for shares of Hologic in a research report issued to clients and investors on Tuesday, January 14th. Piper Sandler analyst W. Quirk now anticipates that the medical equipment provider will earn $0.57 per share for the quarter, down from their previous forecast of $0.63. Piper Sandler also issued estimates for Hologic’s Q3 2020 earnings at $0.62 EPS, FY2020 earnings at $2.48 EPS, Q1 2021 earnings at $0.63 EPS, Q2 2021 earnings at $0.62 EPS, Q3 2021 earnings at $0.67 EPS, Q4 2021 earnings at $0.72 EPS and FY2022 earnings at $2.93 EPS.

Hologic (NASDAQ:HOLX) last posted its earnings results on Wednesday, November 6th. The medical equipment provider reported $0.65 EPS for the quarter, meeting the consensus estimate of $0.65. The firm had revenue of $865.80 million for the quarter, compared to analyst estimates of $846.54 million. Hologic had a positive return on equity of 29.67% and a negative net margin of 1.19%. Hologic’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.58 earnings per share.

Other equities analysts have also issued research reports about the company. Barclays increased their target price on Hologic from $50.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday. Morgan Stanley lowered Hologic from an “equal weight” rating to an “underweight” rating in a report on Thursday, January 2nd. Wells Fargo & Co began coverage on Hologic in a report on Tuesday, January 7th. They issued an “equal weight” rating and a $57.00 target price on the stock. BidaskClub lowered Hologic from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Finally, Bank of America upgraded shares of Hologic from a “neutral” rating to a “buy” rating and upped their price objective for the company from $54.00 to $59.00 in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. Hologic presently has a consensus rating of “Hold” and a consensus price target of $55.38.

NASDAQ:HOLX opened at $53.53 on Wednesday. The firm has a market capitalization of $14.26 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 2.32 and a beta of 0.76. The business’s fifty day moving average price is $52.38 and its 200 day moving average price is $49.76. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.68 and a quick ratio of 1.26. Hologic has a 12 month low of $42.59 and a 12 month high of $53.99.

Several institutional investors and hedge funds have recently made changes to their positions in HOLX. Horan Capital Advisors LLC. acquired a new stake in shares of Hologic during the third quarter worth about $34,000. CSat Investment Advisory L.P. boosted its stake in shares of Hologic by 66.9% during the second quarter. CSat Investment Advisory L.P. now owns 831 shares of the medical equipment provider’s stock worth $40,000 after buying an additional 333 shares during the period. North Star Investment Management Corp. acquired a new stake in shares of Hologic during the third quarter worth about $80,000. KCS Wealth Advisory acquired a new stake in shares of Hologic during the third quarter worth about $89,000. Finally, Private Capital Group LLC boosted its stake in shares of Hologic by 62.2% during the second quarter. Private Capital Group LLC now owns 2,327 shares of the medical equipment provider’s stock worth $92,000 after buying an additional 892 shares during the period. Institutional investors and hedge funds own 94.06% of the company’s stock.

In other news, CEO Stephen P. Macmillan sold 194,396 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $45.91, for a total transaction of $8,924,720.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin Jordan Cohn sold 4,400 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $50.09, for a total transaction of $220,396.00. Following the sale, the insider now owns 23,063 shares of the company’s stock, valued at approximately $1,155,225.67. The disclosure for this sale can be found here. Insiders sold 231,829 shares of company stock valued at $10,833,970 in the last 90 days. 0.90% of the stock is currently owned by insiders.

Hologic Company Profile

Hologic, Inc, a medical technology company, develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women in the United States, Europe, the Asia-Pacific, and internationally. It operates in five segments: Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical, and Skeletal Health.

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Earnings History and Estimates for Hologic (NASDAQ:HOLX)

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