Hologic (NASDAQ:HOLX) Updates Q3 2024 Earnings Guidance

Hologic (NASDAQ:HOLX) updated its third quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 0.980-1.050 for the period, compared to the consensus EPS estimate of 1.020. The company issued revenue guidance of $992.5 million-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Hologic also updated its FY 2024 guidance to 4.020-4.120 EPS.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Needham & Company LLC reissued a buy rating and set a $90.00 price target on shares of Hologic in a research report on Friday. Raymond James upped their price target on Hologic from $85.00 to $88.00 and gave the company an outperform rating in a research report on Friday, February 2nd. William Blair reissued an outperform rating on shares of Hologic in a research report on Friday, February 2nd. JPMorgan Chase & Co. upped their target price on Hologic from $85.00 to $91.00 and gave the stock an overweight rating in a research report on Friday. Finally, Evercore ISI upped their target price on Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a research report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Hologic currently has an average rating of Moderate Buy and a consensus price target of $84.56.

Hologic Price Performance

Shares of Hologic stock traded down $0.61 during midday trading on Monday, hitting $75.93. 1,585,120 shares of the company were exchanged, compared to its average volume of 1,752,628. The firm has a 50 day simple moving average of $76.13 and a 200-day simple moving average of $73.09. Hologic has a 52 week low of $64.02 and a 52 week high of $86.74. The firm has a market cap of $17.82 billion, a P/E ratio of 39.05, a PEG ratio of 2.55 and a beta of 1.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.97 and a quick ratio of 3.29.

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

Insiders Place Their Bets

In other Hologic news, Director Charles J. Dockendorff sold 1,465 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $76.21, for a total transaction 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 document filed with the SEC, which is available through this link. In other Hologic news, Director Scott T. Garrett sold 16,441 shares of the company’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 completion of the sale, the director now directly owns 48,611 shares in the company, valued at $3,670,130.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles J. Dockendorff sold 1,465 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $76.21, for a total value of $111,647.65. Following the sale, the director now owns 1,572 shares of the company’s stock, valued at $119,802.12. The disclosure for this sale can be found here. Company insiders own 1.75% of the company’s stock.

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.