Hologic (NASDAQ:HOLX) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Hologic (NASDAQ:HOLX) posted its quarterly earnings data on Thursday. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05, Briefing.com reports. Hologic had a return on equity of 18.81% and a net margin of 11.78%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same period last year, the company earned $1.06 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. Hologic updated its Q3 guidance to $0.98-$1.05 EPS and its FY24 guidance to $4.02-$4.12 EPS.

Hologic Price Performance

Shares of HOLX stock opened at $76.54 on Friday. The stock’s 50-day moving average is $76.13 and its 200 day moving average is $73.02. Hologic has a 1-year low of $64.02 and a 1-year high of $86.74. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.89 and a quick ratio of 3.18. The company has a market cap of $17.97 billion, a P/E ratio of 39.05, a PEG ratio of 2.59 and a beta of 1.01.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HOLX shares. Raymond James increased their price target on Hologic from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. JPMorgan Chase & Co. increased their price target on Hologic from $85.00 to $91.00 and gave the stock an “overweight” rating in a report on Friday. Evercore ISI increased their price target on Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Hologic in a report on Friday. Finally, UBS Group raised their price objective on Hologic from $78.00 to $79.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.56.

Insiders Place Their Bets

In related news, Director Scott T. Garrett sold 16,441 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were 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 in the company, valued at approximately $3,670,130.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Scott T. Garrett sold 16,441 shares of the business’s stock in a transaction 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 in the company, valued at approximately $3,670,130.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Charles J. Dockendorff sold 1,465 shares of the firm’s stock in a transaction dated 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 sale, 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.

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.