Zacks: Brokerages Expect Hologic (HOLX) Will Post Quarterly Sales of $780.06 Million

Wall Street brokerages expect Hologic (NASDAQ:HOLX) to announce $780.06 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Hologic’s earnings, with the highest sales estimate coming in at $783.70 million and the lowest estimate coming in at $777.70 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 expected to report its next quarterly earnings report after the market closes on Wednesday, May 2nd.

On average, analysts expect that Hologic will report full year sales of $780.06 million for the current financial year, with estimates ranging from $3.23 billion to $3.28 billion. For the next financial year, analysts expect that the business will report sales of $3.40 billion per share, with estimates ranging from $3.37 billion to $3.45 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Hologic.

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

A number of research analysts have recently weighed in on HOLX shares. Canaccord Genuity reiterated a “buy” rating and set a $48.00 price target on shares of Hologic in a report on Friday, February 9th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Hologic in a report on Friday, February 9th. Cowen upgraded Hologic to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, December 20th. Bank of America upgraded Hologic from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Thursday, January 4th. Finally, Zacks Investment Research upgraded Hologic from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $47.21.

In related news, Director Namal Nawana purchased 6,600 shares of Hologic stock in a transaction on Tuesday, February 13th. The stock was bought at an average price of $37.88 per share, with a total value of $250,008.00. Following the completion of the transaction, the director now directly owns 6,954 shares of the company’s stock, valued at $263,417.52. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles J. Dockendorff purchased 13,000 shares of Hologic stock in a transaction on Thursday, March 15th. The stock was bought at an average cost of $38.80 per share, with a total value of $504,400.00. The disclosure for this purchase can be found here. Insiders own 0.79% of the company’s stock.

Large investors have recently made changes to their positions in the business. NuWave Investment Management LLC acquired a new stake in shares of Hologic in the fourth quarter worth about $199,000. Advisor Partners LLC acquired a new stake in shares of Hologic in the fourth quarter worth about $209,000. Fiduciary Trust Co. acquired a new stake in shares of Hologic in the fourth quarter worth about $208,000. MPS Loria Financial Planners LLC acquired a new stake in shares of Hologic in the fourth quarter worth about $214,000. Finally, Conning Inc. acquired a new stake in shares of Hologic in the fourth quarter worth about $218,000. 97.56% of the stock is owned by institutional investors.

Shares of HOLX stock traded down $1.02 on Tuesday, reaching $36.43. 2,194,296 shares of the company’s stock traded hands, compared to its average volume of 2,562,864. Hologic has a 12-month low of $35.33 and a 12-month high of $46.80. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $10,073.95, a price-to-earnings ratio of 17.95, a P/E/G ratio of 1.64 and a beta of 0.85.

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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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