Q2 2024 EPS Estimates for Hologic, Inc. (NASDAQ:HOLX) Lifted by Analyst

Hologic, Inc. (NASDAQ:HOLX) – Analysts at Zacks Research boosted their Q2 2024 EPS estimates for shares of Hologic in a research report issued on Wednesday, April 10th. Zacks Research analyst R. Anand now expects that the medical equipment provider will post earnings of $0.97 per share for the quarter, up from their prior forecast of $0.96. The consensus estimate for Hologic’s current full-year earnings is $4.02 per share. Zacks Research also issued estimates for Hologic’s Q4 2024 earnings at $1.03 EPS and Q1 2025 earnings at $1.04 EPS.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Thursday, February 1st. The medical equipment provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.03. Hologic had a net margin of 12.98% and a return on equity of 18.91%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $989.32 million. During the same period in the previous year, the business posted $1.07 earnings per share. Hologic’s quarterly revenue was down 5.7% on a year-over-year basis.

Several other research analysts also recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Hologic in a research note on Wednesday. William Blair reissued an “outperform” rating on shares of Hologic in a research note on Friday, February 2nd. UBS Group upped their price objective on shares of Hologic from $78.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Citigroup raised shares of Hologic from a “neutral” rating to a “buy” rating and lifted their target price for the company from $80.00 to $95.00 in a report on Wednesday, April 3rd. Finally, StockNews.com cut shares of Hologic from a “buy” rating to a “hold” rating in a report on Friday, March 8th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $87.00.

Hologic Stock Performance

Shares of HOLX stock opened at $77.33 on Friday. The stock’s 50-day moving average price is $75.53 and its 200 day moving average price is $72.33. The company has a quick ratio of 3.18, a current ratio of 3.89 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $18.15 billion, a PE ratio of 36.65, a price-to-earnings-growth ratio of 2.63 and a beta of 1.00. Hologic has a 52-week low of $64.02 and a 52-week high of $87.88.

Insider Transactions at Hologic

In other Hologic news, Director Charles J. Dockendorff sold 1,465 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $76.21, for a total value of $111,647.65. Following the sale, the director now owns 1,572 shares of the company’s stock, valued at $119,802.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hologic news, Director Charles J. Dockendorff sold 1,465 shares of Hologic stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $76.21, for a total transaction of $111,647.65. Following the completion of the transaction, the director now owns 1,572 shares in the company, valued at $119,802.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Karleen Marie Oberton sold 14,940 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $75.00, for a total transaction of $1,120,500.00. Following the completion of the sale, the chief financial officer now owns 103,916 shares in the company, valued at $7,793,700. The disclosure for this sale can be found here. Insiders have sold 32,846 shares of company stock valued at $2,473,443 in the last quarter. 1.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hologic

A number of institutional investors have recently made changes to their positions in HOLX. Vanguard Group Inc. increased its position in Hologic by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 27,882,301 shares of the medical equipment provider’s stock worth $2,141,919,000 after purchasing an additional 381,608 shares in the last quarter. BlackRock Inc. raised its position in shares of Hologic by 1.2% in the first quarter. BlackRock Inc. now owns 23,762,174 shares of the medical equipment provider’s stock valued at $1,917,607,000 after buying an additional 282,787 shares during the last quarter. State Street Corp raised its position in shares of Hologic by 0.8% in the first quarter. State Street Corp now owns 11,426,634 shares of the medical equipment provider’s stock valued at $877,794,000 after buying an additional 94,561 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of Hologic by 227.2% during the second quarter. Macquarie Group Ltd. now owns 6,284,053 shares of the medical equipment provider’s stock valued at $435,485,000 after buying an additional 4,363,687 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Hologic by 4.5% during the fourth quarter. Victory Capital Management Inc. now owns 5,055,048 shares of the medical equipment provider’s stock worth $361,183,000 after acquiring an additional 216,958 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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.