Hologic (NASDAQ:HOLX) Releases FY24 Earnings Guidance

Hologic (NASDAQ:HOLX) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.02-$4.12 for the period, compared to the consensus estimate of $4.03. The company issued revenue guidance of $4.00-$4.05 billion, compared to the consensus revenue estimate of $4.03 billion. Hologic also updated its Q3 guidance to $0.98-$1.05 EPS.

Hologic Price Performance

Shares of HOLX stock traded up $0.63 during midday trading on Friday, reaching $76.54. 2,069,424 shares of the company traded hands, compared to its average volume of 1,449,410. The firm’s 50 day simple moving average is $76.13 and its two-hundred day simple moving average is $73.05. The firm has a market cap of $17.97 billion, a PE ratio of 39.05, a price-to-earnings-growth ratio of 2.59 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.89 and a quick ratio of 3.18. Hologic has a 1-year low of $64.02 and a 1-year high of $86.74.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.05. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. Hologic had a return on equity of 18.81% and a net margin of 11.78%. Hologic’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 earnings per share. On average, equities research analysts expect that Hologic will post 4.08 EPS for the current fiscal year.

Analysts Set New Price Targets

HOLX has been the topic of a number of research reports. Needham & Company LLC reissued a buy rating and issued a $90.00 price objective on shares of Hologic in a research note on Friday. JPMorgan Chase & Co. increased their price target on shares of Hologic from $85.00 to $91.00 and gave the company an overweight rating in a research report on Friday. Citigroup raised shares of Hologic from a neutral rating to a buy rating and raised their price objective for the stock from $80.00 to $95.00 in a research note on Wednesday, April 3rd. StockNews.com raised Hologic from a hold rating to a buy rating in a research note on Friday. Finally, Evercore ISI raised their price target on Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a research report on Thursday, April 4th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $84.56.

Insider Buying and Selling at Hologic

In related news, Director Charles J. Dockendorff sold 1,465 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $76.21, for a total value of $111,647.65. Following the completion of the transaction, the director now directly owns 1,572 shares in the company, valued at $119,802.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Charles J. Dockendorff sold 1,465 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $76.21, for a total value of $111,647.65. Following the completion of the sale, the director now directly owns 1,572 shares in the company, valued at $119,802.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Scott T. Garrett sold 16,441 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $75.50, for a total transaction of $1,241,295.50. Following the transaction, the director now directly owns 48,611 shares of the company’s stock, valued at approximately $3,670,130.50. The disclosure for this sale can be found here. 1.75% of the stock is currently owned by 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.