William Blair Weighs in on Hologic, Inc.’s FY2024 Earnings (NASDAQ:HOLX)

Hologic, Inc. (NASDAQ:HOLX) – Equities research analysts at William Blair increased their FY2024 earnings estimates for Hologic in a research report issued to clients and investors on Friday, May 3rd. William Blair analyst A. Brackmann now anticipates that the medical equipment provider will earn $4.07 per share for the year, up from their previous forecast of $3.97. William Blair has a “Outperform” rating on the stock. The consensus estimate for Hologic’s current full-year earnings is $4.08 per share. William Blair also issued estimates for Hologic’s Q4 2024 earnings at $1.03 EPS, Q1 2025 earnings at $1.06 EPS, Q2 2025 earnings at $1.08 EPS, Q3 2025 earnings at $1.13 EPS, Q4 2025 earnings at $1.18 EPS and FY2025 earnings at $4.45 EPS.

Hologic (NASDAQ:HOLX) last posted its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. Hologic had a net margin of 11.78% and a return on equity of 18.81%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.06 earnings per share.

Several other equities research analysts also recently weighed in on the stock. Evercore ISI upped their price objective on shares of Hologic from $76.00 to $78.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Hologic in a research report on Friday. Raymond James boosted their price target on shares of Hologic from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Citigroup upgraded shares of Hologic from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $95.00 in a research report on Wednesday, April 3rd. Finally, UBS Group boosted their price target 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. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.56.

Hologic Stock Performance

HOLX stock opened at $76.54 on Monday. The company has a market capitalization of $17.97 billion, a P/E ratio of 39.05, a PEG ratio of 2.59 and a beta of 1.01. The company has a 50-day simple moving average of $76.13 and a 200 day simple moving average of $73.05. Hologic has a fifty-two week low of $64.02 and a fifty-two week high of $86.74. The company has a quick ratio of 3.18, a current ratio of 3.89 and a debt-to-equity ratio of 0.55.

Insider Activity

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

Institutional Investors Weigh In On Hologic

Several large investors have recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its stake in shares of Hologic by 24.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the medical equipment provider’s stock valued at $54,000 after buying an additional 137 shares in the last quarter. Graypoint LLC grew its stake in shares of Hologic by 3.9% in the 1st quarter. Graypoint LLC now owns 3,871 shares of the medical equipment provider’s stock valued at $302,000 after buying an additional 147 shares in the last quarter. Deseret Mutual Benefit Administrators grew its stake in shares of Hologic by 42.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 522 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 155 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Hologic by 0.3% in the 4th quarter. Arizona State Retirement System now owns 67,319 shares of the medical equipment provider’s stock valued at $4,810,000 after buying an additional 172 shares in the last quarter. Finally, Lincoln National Corp boosted its position in Hologic by 4.0% during the fourth quarter. Lincoln National Corp now owns 4,675 shares of the medical equipment provider’s stock worth $334,000 after purchasing an additional 178 shares during the period. Institutional investors own 94.73% 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.