Analysts Anticipate Hologic, Inc. (HOLX) Will Announce Quarterly Sales of $779.91 Million

Wall Street brokerages forecast that Hologic, Inc. (NASDAQ:HOLX) will announce $779.91 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for Hologic’s earnings, with estimates ranging from $777.70 million to $783.70 million. Hologic posted sales of $715.40 million in the same quarter last year, which suggests a positive year over year growth rate of 9%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, May 9th.

On average, analysts expect that Hologic will report full year sales of $779.91 million for the current financial year, with estimates ranging from $3.23 billion to $3.28 billion. For the next fiscal year, analysts forecast that the firm will report sales of $3.40 billion per share, with estimates ranging from $3.37 billion to $3.43 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Hologic.

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Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.05. Hologic had a return on equity of 20.07% and a net margin of 34.53%. The company had revenue of $791.10 million for the quarter, compared to analysts’ expectations of $785.80 million. During the same period in the previous year, the firm earned $0.52 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year.

A number of research firms recently commented on HOLX. Zacks Investment Research cut Hologic from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Canaccord Genuity reissued a “buy” rating and issued a $48.00 price target on shares of Hologic in a report on Friday, February 9th. Royal Bank of Canada reissued a “hold” rating and issued a $44.00 price target on shares of Hologic in a report on Friday, February 9th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Hologic in a report on Friday, February 9th. Finally, Stifel Nicolaus cut Hologic from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $45.00 to $42.00 in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $48.00.

Hologic (HOLX) traded down $0.03 during midday trading on Friday, reaching $37.81. The company had a trading volume of 2,949,347 shares, compared to its average volume of 2,640,376. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.87. Hologic has a one year low of $35.33 and a one year high of $46.80. The stock has a market cap of $10,635.31, a PE ratio of 9.98, a PEG ratio of 1.73 and a beta of 0.84.

In related news, Director Namal Nawana bought 6,600 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average price of $37.88 per share, with a total value of $250,008.00. Following the transaction, the director now owns 6,954 shares in the company, valued at approximately $263,417.52. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles J. Dockendorff bought 13,000 shares of the business’s stock in a transaction dated Thursday, March 15th. The shares were bought at an average cost of $38.80 per share, for a total transaction of $504,400.00. The disclosure for this purchase can be found here. 0.88% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Grove Bank & Trust increased its position in shares of Hologic by 115.8% during the 3rd quarter. Grove Bank & Trust now owns 2,860 shares of the medical equipment provider’s stock valued at $105,000 after purchasing an additional 1,535 shares during the last quarter. NuWave Investment Management LLC bought a new position in shares of Hologic during the 4th quarter valued at approximately $199,000. Fiduciary Trust Co. bought a new position in shares of Hologic during the 4th quarter valued at approximately $208,000. Advisor Partners LLC bought a new position in shares of Hologic during the 4th quarter valued at approximately $209,000. Finally, MPS Loria Financial Planners LLC bought a new position in shares of Hologic during the 4th quarter valued at approximately $214,000. 97.56% of the stock is currently owned by hedge funds and other institutional investors.

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About Hologic

Hologic, Inc is a developer, manufacturer and supplier of diagnostics products, medical imaging systems and surgical products with an emphasis on women’s health. The Company operates through four segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health. The diagnostics products include Aptima family of assays, ThinPrep system, the Rapid Fetal Fibronectin Test and Procleix blood screening assays.

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