Hologic, Inc. (NASDAQ:HOLX) Expected to Announce Quarterly Sales of $843.70 Million

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Wall Street brokerages expect that Hologic, Inc. (NASDAQ:HOLX) will report sales of $843.70 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Hologic’s earnings, with the lowest sales estimate coming in at $841.60 million and the highest estimate coming in at $846.00 million. Hologic reported sales of $813.50 million in the same quarter last year, which indicates a positive year over year growth rate of 3.7%. The firm is expected to announce its next quarterly earnings results after the market closes on Wednesday, November 6th.

On average, analysts expect that Hologic will report full year sales of $3.35 billion for the current year, with estimates ranging from $3.34 billion to $3.35 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $3.48 billion, with estimates ranging from $3.45 billion to $3.52 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Hologic.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Wednesday, July 31st. The medical equipment provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. Hologic had a negative net margin of 0.89% and a positive return on equity of 27.95%. The firm had revenue of $852.40 million during the quarter, compared to analyst estimates of $836.91 million. During the same quarter last year, the business posted $0.58 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis.

Several brokerages have recently issued reports on HOLX. BTIG Research reiterated a “buy” rating and issued a $52.00 target price on shares of Hologic in a research note on Thursday, August 1st. Zacks Investment Research raised shares of Hologic from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a report on Friday, August 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $57.00 target price (up from $52.00) on shares of Hologic in a report on Thursday, August 1st. Argus upped their target price on shares of Hologic to $62.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Bank of America raised shares of Hologic from a “neutral” rating to a “buy” rating and upped their target price for the company from $54.00 to $59.00 in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Hologic presently has a consensus rating of “Hold” and a consensus target price of $51.48.

In other news, insider Peter J. Valenti III sold 7,766 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.14, for a total value of $381,621.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Stephen P. Macmillan sold 194,396 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $48.77, for a total value of $9,480,692.92. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in Hologic by 0.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 42,197,163 shares of the medical equipment provider’s stock worth $2,026,308,000 after purchasing an additional 116,925 shares during the last quarter. BlackRock Inc. increased its stake in shares of Hologic by 0.5% during the second quarter. BlackRock Inc. now owns 18,609,553 shares of the medical equipment provider’s stock worth $893,630,000 after buying an additional 95,737 shares during the period. FMR LLC increased its stake in shares of Hologic by 419.2% during the first quarter. FMR LLC now owns 13,264,384 shares of the medical equipment provider’s stock worth $641,996,000 after buying an additional 10,709,693 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Hologic by 72,308.7% during the second quarter. Nuveen Asset Management LLC now owns 5,304,658 shares of the medical equipment provider’s stock worth $254,730,000 after buying an additional 5,297,332 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Hologic by 5.9% during the second quarter. Bank of New York Mellon Corp now owns 2,043,496 shares of the medical equipment provider’s stock worth $98,129,000 after buying an additional 114,554 shares during the period. 95.29% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ HOLX opened at $49.16 on Friday. The firm’s 50 day moving average price is $49.26 and its 200-day moving average price is $47.80. The company has a market cap of $13.18 billion, a PE ratio of 22.04, a P/E/G ratio of 2.06 and a beta of 0.78. Hologic has a 52-week low of $37.47 and a 52-week high of $52.19. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.11 and a current ratio of 1.57.

Hologic Company Profile

Hologic, Inc, a medical technology company, develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women in the United States, Europe, the Asia-Pacific, and internationally. It operates in five segments: Diagnostics, Breast Health, Medical Aesthetics, GYN Surgical, and Skeletal Health.

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