Hologic (NASDAQ:HOLX) Announces Earnings Results

Hologic (NASDAQ:HOLX) released its earnings results on Monday. The medical equipment provider reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04, Briefing.com reports. Hologic had a net margin of 11.78% and a return on equity of 18.91%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the business earned $0.93 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year.

Hologic Stock Performance

Shares of NASDAQ:HOLX traded up $1.42 on Tuesday, reaching $81.06. 303,577 shares of the company’s stock were exchanged, compared to its average volume of 1,609,527. The company has a fifty day moving average of $74.66 and a 200-day moving average of $75.08. Hologic has a twelve month low of $64.02 and a twelve month high of $81.27. The company has a market capitalization of $18.92 billion, a price-to-earnings ratio of 41.36, a PEG 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.

Insiders Place Their Bets

In other Hologic news, Director Christiana Stamoulis sold 9,039 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total transaction of $718,600.50. Following the transaction, the director now owns 45,472 shares in the company, valued at approximately $3,615,024. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Hologic news, Director Christiana Stamoulis sold 9,039 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total transaction of $718,600.50. Following the transaction, the director now owns 45,472 shares in the company, valued at approximately $3,615,024. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Stephen P. Macmillan sold 3,672 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $80.13, for a total transaction of $294,237.36. Following the sale, the chief executive officer now owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The disclosure for this sale can be found here. Company insiders own 1.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HOLX. Royal Bank of Canada lifted their target price on shares of Hologic from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Hologic in a report on Tuesday. Argus upped their target price on shares of Hologic from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Citigroup raised shares of Hologic from a “neutral” rating to a “buy” rating and upped their target price for the stock from $80.00 to $95.00 in a research note on Wednesday, April 3rd. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hologic has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

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.