Hologic (NASDAQ:HOLX) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Hologic (NASDAQ:HOLX) issued its quarterly earnings data on Thursday. The medical equipment provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.05), FiscalAI reports. Hologic had a net margin of 13.80% and a return on equity of 20.13%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.07 billion.

Hologic Stock Down 0.2%

Shares of NASDAQ HOLX traded down $0.12 during midday trading on Thursday, hitting $74.98. 4,116,160 shares of the company’s stock were exchanged, compared to its average volume of 2,394,013. The firm’s fifty day simple moving average is $74.86 and its 200-day simple moving average is $70.75. The company has a market cap of $16.74 billion, a PE ratio of 30.23, a P/E/G ratio of 2.13 and a beta of 0.69. Hologic has a twelve month low of $51.90 and a twelve month high of $75.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.75 and a quick ratio of 3.06.

Institutional Trading of Hologic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOLX. CIBC Private Wealth Group LLC grew its position in shares of Hologic by 18.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 6,159 shares of the medical equipment provider’s stock valued at $416,000 after buying an additional 965 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Hologic in the third quarter valued at $2,072,000. Coldstream Capital Management Inc. grew its holdings in shares of Hologic by 12.1% during the third quarter. Coldstream Capital Management Inc. now owns 8,846 shares of the medical equipment provider’s stock worth $597,000 after purchasing an additional 953 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Hologic during the third quarter worth about $11,435,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of Hologic by 7,471.2% in the 3rd quarter. NewEdge Advisors LLC now owns 11,054 shares of the medical equipment provider’s stock valued at $746,000 after purchasing an additional 10,908 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

HOLX has been the topic of several research reports. Needham & Company LLC reissued a “hold” rating on shares of Hologic in a research report on Tuesday, November 4th. Mizuho downgraded shares of Hologic from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $70.00 to $78.00 in a research note on Thursday, October 23rd. BNP Paribas Exane cut shares of Hologic from a “strong-buy” rating to a “hold” rating and set a $79.00 price target for the company. in a research report on Friday, November 21st. Stephens lowered Hologic from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $78.00 to $76.00 in a research report on Wednesday, October 22nd. Finally, BTIG Research reiterated a “neutral” rating on shares of Hologic in a research note on Tuesday, October 21st. Three research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, Hologic presently has an average rating of “Hold” and a consensus price target of $79.31.

Hologic Company Profile

Hologic, Inc (NASDAQ: HOLX) is a global medical technology company specializing in women’s health. Headquartered in Marlborough, Massachusetts, the company develops and manufactures diagnostic products, imaging systems and surgical solutions designed to detect, diagnose and treat diseases with a primary focus on breast and skeletal health, gynecological conditions and molecular diagnostics. Its product portfolio includes digital mammography systems, 3D mammography solutions, bone densitometry equipment and molecular assays for infectious disease and oncology applications.

Since its founding in 1985, Hologic has grown through both internal innovation and strategic acquisitions.