Q2 2024 Earnings Forecast for Hologic, Inc. Issued By Zacks Research (NASDAQ:HOLX)

Hologic, Inc. (NASDAQ:HOLX) – Stock analysts at Zacks Research upped their Q2 2024 earnings estimates for shares of Hologic in a research note issued to investors on Wednesday, April 10th. Zacks Research analyst R. Anand now expects that the medical equipment provider will post earnings per share of $0.97 for the quarter, up from their prior estimate 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.

A number of other equities analysts also recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Hologic in a report on Wednesday. Citigroup upgraded shares of Hologic from a “neutral” rating to a “buy” rating and raised their target price for the company from $80.00 to $95.00 in a research note on Wednesday, April 3rd. StockNews.com downgraded Hologic from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Evercore ISI increased their price objective on Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, UBS Group boosted their target price on Hologic from $78.00 to $79.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $87.00.

Hologic Trading Down 0.6 %

Shares of NASDAQ HOLX opened at $77.33 on Friday. Hologic has a 1-year low of $64.02 and a 1-year high of $87.88. The business has a fifty day moving average price of $75.53 and a 200 day moving average price of $72.33. The stock has a market capitalization of $18.15 billion, a P/E ratio of 36.65, a price-to-earnings-growth ratio of 2.63 and a beta of 1.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.89 and a quick ratio of 3.18.

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

Institutional Trading of Hologic

Hedge funds have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV grew its position in Hologic by 24.7% during the first 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 during the period. Belpointe Asset Management LLC increased its stake in shares of Hologic by 18.0% in the 1st quarter. Belpointe Asset Management LLC now owns 937 shares of the medical equipment provider’s stock valued at $76,000 after purchasing an additional 143 shares in the last quarter. Deseret Mutual Benefit Administrators raised its holdings in Hologic by 42.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 522 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 155 shares during the period. Arizona State Retirement System boosted its position in Hologic by 0.3% during the fourth quarter. Arizona State Retirement System now owns 67,319 shares of the medical equipment provider’s stock worth $4,810,000 after purchasing an additional 172 shares in the last quarter. Finally, Cooper Financial Group grew its holdings in Hologic by 1.9% in the third quarter. Cooper Financial Group now owns 9,502 shares of the medical equipment provider’s stock valued at $659,000 after purchasing an additional 174 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insider Buying and Selling at Hologic

In other news, Director Scott T. Garrett sold 16,441 shares of the firm’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 completion of the transaction, the director now directly owns 48,611 shares in the company, valued at $3,670,130.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Karleen Marie Oberton sold 14,940 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 103,916 shares in the company, valued at $7,793,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott T. Garrett sold 16,441 shares of the 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 sale, the director now directly owns 48,611 shares in the company, valued at $3,670,130.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,846 shares of company stock worth $2,473,443. 1.75% of the stock is currently owned by insiders.

Hologic Company Profile

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.