Hologic (NASDAQ:HOLX) Posts Earnings Results, Beats Expectations By $0.03 EPS

Hologic (NASDAQ:HOLX) posted its quarterly earnings results on Monday. The medical equipment provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.10 by $0.03, Zacks reports. Hologic had a net margin of 13.79% and a return on equity of 19.69%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The firm’s revenue was up 6.2% on a year-over-year basis.

Hologic Trading Up 0.1%

HOLX stock traded up $0.08 on Wednesday, hitting $74.19. 869,147 shares of the company were exchanged, compared to its average volume of 2,814,115. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.55 and a quick ratio of 2.81. The stock has a market capitalization of $16.50 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63. Hologic has a twelve month low of $51.90 and a twelve month high of $81.13. The business’s fifty day moving average is $68.55 and its two-hundred day moving average is $64.87.

Analysts Set New Price Targets

A number of research analysts have recently commented on HOLX shares. Wall Street Zen downgraded Hologic from a “buy” rating to a “hold” rating in a report on Wednesday, October 1st. Mizuho downgraded Hologic from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $70.00 to $78.00 in a report on Thursday, October 23rd. Citigroup raised Hologic from a “neutral” rating to a “buy” rating and increased their target price for the stock from $60.00 to $80.00 in a research note on Wednesday, July 9th. Royal Bank Of Canada raised shares of Hologic from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $72.00 to $87.00 in a report on Wednesday, August 6th. Finally, Raymond James Financial cut shares of Hologic from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, Hologic currently has a consensus rating of “Hold” and a consensus price target of $79.23.

Insider Buying and Selling at Hologic

In other news, Director Christiana Stamoulis sold 7,402 shares of the company’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $73.07, for a total transaction of $540,864.14. Following the completion of the sale, the director directly owned 47,336 shares in the company, valued at $3,458,841.52. This represents a 13.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Stephen P. Macmillan sold 138,358 shares of Hologic stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $66.97, for a total value of $9,265,835.26. Following the completion of the transaction, the chief executive officer directly owned 1,234,624 shares in the company, valued at $82,682,769.28. This represents a 10.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co raised its stake in shares of Hologic by 23.1% during the second quarter. CANADA LIFE ASSURANCE Co now owns 351,042 shares of the medical equipment provider’s stock valued at $22,903,000 after purchasing an additional 65,848 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Hologic by 40.0% during the second quarter. Tower Research Capital LLC TRC now owns 4,048 shares of the medical equipment provider’s stock valued at $264,000 after purchasing an additional 1,157 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in Hologic in the second quarter worth $43,000. Corient Private Wealth LLC raised its stake in shares of Hologic by 14.7% in the 2nd quarter. Corient Private Wealth LLC now owns 53,095 shares of the medical equipment provider’s stock worth $3,460,000 after buying an additional 6,820 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in Hologic by 6.1% in the 2nd quarter. Captrust Financial Advisors now owns 15,933 shares of the medical equipment provider’s stock valued at $1,038,000 after acquiring an additional 910 shares during the last quarter. Institutional investors and hedge funds own 94.73% 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.