Hologic (NASDAQ:HOLX) Issues FY 2024 Earnings Guidance

Hologic (NASDAQ:HOLX) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 4.020-4.120 for the period, compared to the consensus EPS estimate of 4.030. The company issued revenue guidance of $4.0 billion-$4.1 billion, compared to the consensus revenue estimate of $4.0 billion. Hologic also updated its Q3 2024 guidance to 0.980-1.050 EPS.

Hologic Stock Down 0.8 %

Shares of NASDAQ:HOLX traded down $0.61 on Monday, hitting $75.93. 1,585,120 shares of the company’s stock were exchanged, compared to its average volume of 1,752,628. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.29 and a current ratio of 3.97. Hologic has a 1-year low of $64.02 and a 1-year high of $86.74. The company has a market capitalization of $17.82 billion, a PE ratio of 39.05, a P/E/G ratio of 2.55 and a beta of 1.01. The firm’s 50-day moving average is $76.13 and its 200 day moving average is $73.09.

Hologic (NASDAQ:HOLX) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. Hologic had a net margin of 11.78% and a return on equity of 18.91%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the company earned $1.06 earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. Sell-side analysts predict that Hologic will post 4.08 EPS for the current year.

Analysts Set New Price Targets

HOLX has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a buy rating and set a $90.00 target price on shares of Hologic in a research report on Friday. Raymond James boosted their price objective on Hologic from $85.00 to $88.00 and gave the company an outperform rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. raised their target price on shares of Hologic from $85.00 to $91.00 and gave the stock an overweight rating in a research report on Friday. StockNews.com upgraded shares of Hologic from a hold rating to a buy rating in a research report on Friday. Finally, 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 report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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 firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $75.50, for a total value of $1,241,295.50. Following the completion of the sale, the director now owns 48,611 shares in the company, valued at $3,670,130.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Hologic news, Director Scott T. Garrett sold 16,441 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $75.50, for a total value of $1,241,295.50. Following the completion of the transaction, the director now owns 48,611 shares in the company, valued at $3,670,130.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles J. Dockendorff sold 1,465 shares of the firm’s stock in a transaction 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 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 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.