Hologic, Inc. (NASDAQ:HOLX) Forecasted to Post FY2024 Earnings of $4.09 Per Share

Hologic, Inc. (NASDAQ:HOLX) – Investment analysts at Leerink Partnrs raised their FY2024 EPS estimates for shares of Hologic in a research report issued to clients and investors on Monday, July 29th. Leerink Partnrs analyst P. Souda now forecasts that the medical equipment provider will earn $4.09 per share for the year, up from their prior forecast of $4.06. The consensus estimate for Hologic’s current full-year earnings is $4.08 per share. Leerink Partnrs also issued estimates for Hologic’s Q4 2024 earnings at $1.02 EPS, Q2 2025 earnings at $1.10 EPS, Q3 2025 earnings at $1.16 EPS and Q4 2025 earnings at $1.12 EPS.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Monday, July 29th. The medical equipment provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the company posted $0.93 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis.

A number of other equities research analysts have also recently commented on HOLX. JPMorgan Chase & Co. increased their price objective on shares of Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday. Evercore ISI increased their price objective on shares of Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a research note on Tuesday. Argus increased their price objective on shares of Hologic from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Royal Bank of Canada increased their price objective on shares of Hologic from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, Stephens reissued an “overweight” rating and issued a $92.00 price objective on shares of Hologic in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $87.60.

Hologic Stock Performance

NASDAQ:HOLX opened at $83.20 on Wednesday. The company has a quick ratio of 3.29, a current ratio of 3.99 and a debt-to-equity ratio of 0.51. Hologic has a fifty-two week low of $64.02 and a fifty-two week high of $83.27. The stock has a market cap of $19.42 billion, a PE ratio of 42.45, a price-to-earnings-growth ratio of 2.75 and a beta of 0.99. The firm’s fifty day simple moving average is $75.14 and its 200-day simple moving average is $75.25.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Rhumbline Advisers raised its holdings in Hologic by 2.1% in the second quarter. Rhumbline Advisers now owns 512,795 shares of the medical equipment provider’s stock valued at $38,075,000 after buying an additional 10,569 shares during the period. Natixis Advisors LLC raised its holdings in Hologic by 1.3% in the second quarter. Natixis Advisors LLC now owns 307,488 shares of the medical equipment provider’s stock valued at $22,831,000 after buying an additional 3,852 shares during the period. Triodos Investment Management BV raised its holdings in Hologic by 10.0% in the second quarter. Triodos Investment Management BV now owns 27,500 shares of the medical equipment provider’s stock valued at $2,042,000 after buying an additional 2,500 shares during the period. Nilsine Partners LLC raised its holdings in Hologic by 2.3% in the second quarter. Nilsine Partners LLC now owns 41,463 shares of the medical equipment provider’s stock valued at $3,079,000 after buying an additional 941 shares during the period. Finally, nVerses Capital LLC purchased a new position in Hologic in the second quarter valued at approximately $601,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Stephen P. Macmillan sold 3,672 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total transaction of $294,237.36. Following the transaction, the chief executive officer now directly owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Stephen P. Macmillan sold 3,672 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total transaction of $294,237.36. Following the transaction, the chief executive officer now directly owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christiana Stamoulis sold 9,039 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $79.50, for a total transaction of $718,600.50. Following the transaction, the director now owns 45,472 shares in the company, valued at $3,615,024. The disclosure for this sale can be found here. 1.75% of the stock is 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.