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 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.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. William Blair reaffirmed an outperform rating on shares of Hologic in a report on Friday, February 2nd. Evercore ISI upped their price target on shares of Hologic from $76.00 to $78.00 and gave the stock an in-line rating in a report on Thursday, April 4th. UBS Group raised their price objective on Hologic from $78.00 to $79.00 and gave the company a neutral rating in a report on Friday, February 2nd. Citigroup raised Hologic from a neutral rating to a buy rating and upped their target price for the stock from $80.00 to $95.00 in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. increased their target price on Hologic from $85.00 to $91.00 and gave the company an overweight rating in a research report on Friday. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $84.56.

Hologic Trading Down 0.8 %

Shares of HOLX stock traded down $0.61 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 firm has a market cap 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. Hologic has a twelve month low of $64.02 and a twelve month high of $86.74. 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 stock’s 50-day moving average is $76.13 and its two-hundred day moving average is $73.09.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company earned $1.06 EPS. On average, equities research analysts anticipate that Hologic will post 4.08 earnings per share for the current fiscal year.

Insider Transactions at Hologic

In other news, Director Charles J. Dockendorff sold 1,465 shares of Hologic 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 owns 1,572 shares in the company, valued at approximately $119,802.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Charles J. Dockendorff sold 1,465 shares of Hologic 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 owns 1,572 shares in the company, valued at approximately $119,802.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott T. Garrett sold 16,441 shares of Hologic stock in a transaction 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 of the company’s stock, valued at approximately $3,670,130.50. The disclosure for this sale can be found here. Corporate 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.