Hologic (NASDAQ:HOLX) Updates FY 2024 Earnings Guidance

Hologic (NASDAQ:HOLX) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 4.020-4.120 for the period, compared to the consensus earnings per share 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 Price Performance

HOLX traded down $0.61 during midday trading on Monday, hitting $75.93. The company had a trading volume of 1,585,120 shares, 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. 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. Hologic has a twelve month low of $64.02 and a twelve month high of $86.74. The firm’s 50-day simple moving average is $76.13 and its 200-day simple moving average is $73.09.

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

Wall Street Analysts Forecast Growth

HOLX has been the subject of several research reports. StockNews.com upgraded shares of Hologic from a hold rating to a buy rating in a research report on Friday. Needham & Company LLC reiterated a buy rating and set a $90.00 price target on shares of Hologic in a research report on Friday. William Blair reiterated an outperform rating on shares of Hologic in a research report on Friday, February 2nd. UBS Group lifted their price target on shares of Hologic from $78.00 to $79.00 and gave the stock a neutral rating in a research report on Friday, February 2nd. Finally, Evercore ISI lifted their price target on shares of Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a research report on Thursday, April 4th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Hologic has a consensus rating of Moderate Buy and an average price target of $84.56.

Insider Buying and Selling

In other Hologic news, Director Scott T. Garrett sold 16,441 shares of Hologic stock in a transaction that occurred on 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 transaction, the director now owns 48,611 shares of the company’s stock, valued at $3,670,130.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Hologic 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 transaction, the director now owns 1,572 shares of the company’s stock, valued at $119,802.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Scott T. Garrett sold 16,441 shares of Hologic 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 sale, the director now owns 48,611 shares in the company, valued at $3,670,130.50. 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.