Hologic (NASDAQ:HOLX) Updates FY 2024 Earnings Guidance

Hologic (NASDAQ:HOLX - Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 4.020-4.120 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Needham & Company LLC reaffirmed a buy rating and set a $90.00 price target on shares of Hologic in a research report on Friday. Citigroup upgraded Hologic from a neutral rating to a buy rating and lifted their target price for the stock from $80.00 to $95.00 in a research note on Wednesday, April 3rd. StockNews.com downgraded shares of Hologic from a buy rating to a hold rating in a report on Friday, March 8th. William Blair reaffirmed an outperform rating on shares of Hologic in a research report on Friday, February 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Hologic from $85.00 to $91.00 and gave the company an overweight rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Hologic presently has a consensus rating of Hold and an average price target of $84.56.

Hologic Stock Performance

HOLX stock traded up $0.63 during midday trading on Friday, reaching $76.54. 2,069,424 shares of the company's stock traded hands, compared to its average volume of 1,754,576. The firm has a market capitalization of $17.97 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 2.58 and a beta of 1.01. The company has a 50-day moving average price of $76.12 and a two-hundred day moving average price of $72.97. Hologic has a 52 week low of $64.02 and a 52 week high of $86.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.18 and a current ratio of 3.89.

Hologic (NASDAQ:HOLX - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1 billion. Hologic had a return on equity of 18.91% and a net margin of 12.98%. The firm's quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 EPS. As a group, equities analysts anticipate that Hologic will post 4.02 EPS for the current year.

Insider Activity at Hologic

In related news, Director Scott T. Garrett sold 16,441 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $75.50, for a total value of $1,241,295.50. Following the sale, the director now owns 48,611 shares in the company, valued at $3,670,130.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Charles J. Dockendorff sold 1,465 shares of the firm's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $76.21, for a total transaction of $111,647.65. Following the sale, the director now owns 1,572 shares in the company, valued at approximately $119,802.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Scott T. Garrett sold 16,441 shares of the company's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $75.50, for a total transaction of $1,241,295.50. Following the completion of the transaction, the director now owns 48,611 shares of the company's stock, valued at $3,670,130.50. The disclosure for this sale can be found here. 1.75% of the stock is owned by corporate insiders.

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.