Hologic (NASDAQ:HOLX) Releases FY 2024 Earnings Guidance

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

NASDAQ HOLX traded down $0.61 during mid-day trading on Monday, reaching $75.93. 1,585,120 shares of the stock were exchanged, compared to its average volume of 1,752,628. The company has a market capitalization of $17.82 billion, a P/E ratio of 39.05, a P/E/G ratio of 2.55 and a beta of 1.01. 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 business’s 50 day moving average is $76.13 and its 200-day moving average is $73.09. Hologic has a 1 year low of $64.02 and a 1 year high of $86.74.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. StockNews.com raised shares of Hologic from a hold rating to a buy rating in a report on Friday. JPMorgan Chase & Co. raised their price target on shares of Hologic from $85.00 to $91.00 and gave the company an overweight rating in a research note on Friday. UBS Group boosted their price objective on Hologic from $78.00 to $79.00 and gave the stock a neutral rating in a research note on Friday, February 2nd. Evercore ISI raised their target price on Hologic from $76.00 to $78.00 and gave the company an in-line rating in a research report on Thursday, April 4th. Finally, William Blair reiterated an outperform rating on shares of Hologic in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Hologic currently has an average rating of Moderate Buy and an average target price of $84.56.

Insider Transactions at Hologic

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

About Hologic

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.