Hologic, Inc. to Post Q3 2024 Earnings of $1.02 Per Share, Leerink Partnrs Forecasts (NASDAQ:HOLX)

Hologic, Inc. (NASDAQ:HOLX) – Leerink Partnrs lowered their Q3 2024 earnings estimates for shares of Hologic in a note issued to investors on Thursday, May 2nd. Leerink Partnrs analyst P. Souda now anticipates that the medical equipment provider will post earnings per share of $1.02 for the quarter, down from their previous estimate of $1.04. The consensus estimate for Hologic’s current full-year earnings is $4.08 per share. Leerink Partnrs also issued estimates for Hologic’s Q4 2024 earnings at $1.03 EPS, FY2024 earnings at $4.06 EPS, Q1 2025 earnings at $1.10 EPS, Q2 2025 earnings at $1.11 EPS, Q3 2025 earnings at $1.14 EPS, Q4 2025 earnings at $1.13 EPS and FY2025 earnings at $4.47 EPS.

Several other research analysts have also recently weighed in on the company. Evercore ISI upped their price objective on Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. UBS Group raised their price target on shares of Hologic from $78.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. William Blair reissued an “outperform” rating on shares of Hologic in a research report on Friday, February 2nd. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Hologic in a report on Friday. Finally, Raymond James lifted their price target on shares of Hologic from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.56.

Hologic Price Performance

HOLX stock opened at $76.54 on Monday. The stock has a 50-day moving average price of $76.13 and a two-hundred day moving average price of $73.05. Hologic has a 1 year low of $64.02 and a 1 year high of $86.74. The stock has a market cap of $17.97 billion, a PE ratio of 39.05, a price-to-earnings-growth ratio of 2.59 and a beta of 1.01. The company has a current ratio of 3.89, a quick ratio of 3.18 and a debt-to-equity ratio of 0.55.

Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.03 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 analyst estimates of $1 billion. Hologic had a net margin of 11.78% and a return on equity of 18.81%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the business posted $1.06 earnings per share.

Hedge Funds Weigh In On Hologic

Several large investors have recently modified their holdings of HOLX. Victory Capital Management Inc. grew its stake in Hologic by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 5,055,048 shares of the medical equipment provider’s stock valued at $361,183,000 after buying an additional 216,958 shares during the last quarter. Norges Bank acquired a new position in shares of Hologic in the fourth quarter valued at approximately $217,529,000. The Manufacturers Life Insurance Company grew its position in shares of Hologic by 117.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,163,718 shares of the medical equipment provider’s stock valued at $154,598,000 after purchasing an additional 1,168,564 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Hologic by 2.8% during the fourth quarter. TD Asset Management Inc now owns 1,897,705 shares of the medical equipment provider’s stock worth $135,591,000 after purchasing an additional 52,243 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in Hologic by 9.0% during the 3rd quarter. Hsbc Holdings PLC now owns 1,721,339 shares of the medical equipment provider’s stock worth $119,472,000 after purchasing an additional 141,542 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Hologic

In other news, Director Charles J. Dockendorff sold 1,465 shares of the business’s 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 transaction, the director now directly owns 1,572 shares in the company, valued at approximately $119,802.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 approximately $3,670,130.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles J. Dockendorff sold 1,465 shares of Hologic stock in a transaction on Friday, March 8th. The stock was sold at an average price of $76.21, for a total transaction of $111,647.65. Following the transaction, the director now directly owns 1,572 shares of the company’s stock, valued at $119,802.12. The disclosure for this sale can be found here. Corporate 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.