Hologic (NASDAQ:HOLX) Announces Earnings Results

Hologic (NASDAQ:HOLX) issued its earnings results on Monday. The medical equipment provider reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01), Briefing.com reports. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The firm had revenue of $987.90 million during the quarter, compared to analysts’ expectations of $978.25 million. During the same quarter last year, the firm earned $0.89 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year.

Hologic Trading Up 1.7 %

Shares of HOLX stock opened at $83.72 on Tuesday. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $19.45 billion, a P/E ratio of 28.48, a P/E/G ratio of 2.98 and a beta of 0.98. Hologic has a 12-month low of $66.93 and a 12-month high of $84.67. The firm has a 50-day moving average price of $80.99 and a 200 day moving average price of $78.02.

Analysts Set New Price Targets

Several equities analysts recently weighed in on HOLX shares. Leerink Partners cut their price objective on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. JPMorgan Chase & Co. raised 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, July 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $82.00 price objective on shares of Hologic in a report on Friday, August 16th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Hologic in a report on Tuesday, October 15th. Finally, Evercore ISI upped their price target on Hologic from $78.00 to $82.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hologic currently has a consensus rating of “Moderate Buy” and an average target price of $87.50.

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.