Hologic (NASDAQ:HOLX) Updates Q4 2024 Earnings Guidance

Hologic (NASDAQ:HOLX) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.970-1.040 for the period, compared to the consensus earnings per share estimate of 1.040. The company issued revenue guidance of $970.0 million-$985.0 million, compared to the consensus revenue estimate of $1.0 billion. Hologic also updated its FY 2024 guidance to 4.040-4.110 EPS.

Hologic Trading Up 1.3 %

Shares of HOLX traded up $1.01 during mid-day trading on Monday, reaching $79.64. The company’s stock had a trading volume of 2,196,460 shares, compared to its average volume of 1,618,592. The stock has a market cap of $18.59 billion, a PE ratio of 40.63, a P/E/G ratio of 2.62 and a beta of 0.99. The company has a current ratio of 3.97, a quick ratio of 3.29 and a debt-to-equity ratio of 0.52. Hologic has a 52 week low of $64.02 and a 52 week high of $81.00. The company’s fifty day moving average price is $74.56 and its two-hundred day moving average price is $75.03.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. Hologic had a net margin of 11.78% and a return on equity of 18.91%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the business posted $1.06 EPS. The firm’s revenue was down .8% compared to the same quarter last year. On average, analysts predict that Hologic will post 4.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on HOLX shares. Citigroup upgraded shares of Hologic from a neutral rating to a buy rating and upped their price target for the company from $80.00 to $95.00 in a report on Wednesday, April 3rd. StockNews.com raised shares of Hologic from a hold rating to a buy rating in a research report on Friday, May 3rd. Stephens began coverage on shares of Hologic in a research report on Thursday, June 27th. They set an overweight rating and a $87.00 price objective on the stock. Argus boosted their price objective on shares of Hologic from $89.00 to $95.00 and gave the company a buy rating in a research report on Thursday, May 9th. Finally, Evercore ISI reduced their price objective on shares of Hologic from $78.00 to $76.00 and set an in-line rating on the stock in a research report on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $85.55.

Insider Transactions at Hologic

In other news, CEO Stephen P. Macmillan sold 3,672 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total value of $294,237.36. Following the sale, the chief executive officer now directly owns 1,157,562 shares of the company’s stock, valued at approximately $92,755,443.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Stephen P. Macmillan sold 3,672 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total value of $294,237.36. Following the sale, the chief executive officer now directly owns 1,157,562 shares of the company’s stock, valued at approximately $92,755,443.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christiana Stamoulis sold 9,039 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total transaction of $718,600.50. Following the sale, the director now directly owns 45,472 shares in the company, valued at $3,615,024. The disclosure for this sale can be found here. 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.