Hologic (NASDAQ:HOLX) Announces Quarterly Earnings Results

Hologic (NASDAQ:HOLX) announced its earnings results on Monday. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04, Briefing.com reports. Hologic had a net margin of 17.59% and a return on equity of 19.65%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period last year, the firm posted $0.93 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year.

Hologic Stock Performance

HOLX traded down $0.90 during trading on Wednesday, hitting $81.61. The stock had a trading volume of 2,851,485 shares, compared to its average volume of 1,635,271. Hologic has a one year low of $64.02 and a one year high of $82.65. The firm has a market cap of $19.05 billion, a price-to-earnings ratio of 42.10, a P/E/G ratio of 2.65 and a beta of 0.99. The company has a 50 day moving average price of $74.82 and a 200-day moving average price of $75.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.97 and a quick ratio of 3.29.

Insider Activity

In other news, CEO Stephen P. Macmillan sold 3,672 shares of the 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 completion of the transaction, the chief executive officer now owns 1,157,562 shares of the company’s stock, valued at $92,755,443.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Stephen P. Macmillan sold 3,672 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total value of $294,237.36. Following the transaction, the chief executive officer now owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen P. Macmillan 44,039 shares of the business’s stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. 1.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HOLX shares. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Hologic in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday. Royal Bank of Canada lifted their target price on Hologic from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Tuesday. StockNews.com raised shares of Hologic from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Argus upped their target price on shares of Hologic from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.45.

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.