Hologic (NASDAQ:HOLX) Releases FY24 Earnings Guidance

Hologic (NASDAQ:HOLX) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $4.02-$4.12 for the period, compared to the consensus EPS 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 Stock Up 0.8 %

HOLX traded up $0.63 during mid-day trading on Friday, reaching $76.54. 2,069,424 shares of the stock were exchanged, compared to its average volume of 1,449,410. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.18 and a current ratio of 3.89. The stock has a market capitalization 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 50 day moving average price of $76.13 and a two-hundred day moving average price of $73.05. Hologic has a 1 year low of $64.02 and a 1 year high of $86.74.

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

Analyst Upgrades and Downgrades

HOLX has been the topic of a number of analyst reports. William Blair reaffirmed an outperform rating on shares of Hologic in a report on Friday, February 2nd. JPMorgan Chase & Co. lifted their target price on Hologic from $85.00 to $91.00 and gave the stock an overweight rating in a research note on Friday. Citigroup upgraded Hologic from a neutral rating to a buy rating and lifted their target price for the stock from $80.00 to $95.00 in a research note on Wednesday, April 3rd. UBS Group lifted their target price on Hologic from $78.00 to $79.00 and gave the stock a neutral rating in a research note on Friday, February 2nd. Finally, Evercore ISI lifted their target price on Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a research note on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $84.56.

Insider Activity at Hologic

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