Equities Analysts Offer Predictions for Hologic, Inc.’s Q3 2024 Earnings (NASDAQ:HOLX)

Hologic, Inc. (NASDAQ:HOLX) – Leerink Partnrs decreased their Q3 2024 EPS estimates for shares of Hologic in a research note issued to investors on Thursday, May 2nd. Leerink Partnrs analyst P. Souda now forecasts that the medical equipment provider will earn $1.02 per share 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.

Hologic (NASDAQ:HOLX) last issued its earnings results 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 company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. Hologic had a return on equity of 18.91% and a net margin of 11.78%. The business’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.06 EPS.

A number of other research firms have also commented on HOLX. Citigroup raised shares of Hologic from a “neutral” rating to a “buy” rating and lifted their price target for the company from $80.00 to $95.00 in a research report on Wednesday, April 3rd. StockNews.com upgraded Hologic from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. boosted their price target on shares of Hologic from $85.00 to $91.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Raymond James boosted their price objective on Hologic from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Hologic in a research note on Friday, May 3rd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Hologic presently has an average rating of “Moderate Buy” and an average target price of $84.56.

Hologic Trading Up 0.2 %

Hologic stock opened at $76.10 on Monday. The company’s fifty day moving average price is $76.16 and its two-hundred day moving average price is $73.20. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.97 and a quick ratio of 3.29. Hologic has a one year low of $64.02 and a one year high of $86.74. The company has a market capitalization of $17.86 billion, a price-to-earnings ratio of 38.83, a PEG ratio of 2.55 and a beta of 1.01.

Insider Activity at Hologic

In other Hologic news, 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 completion of the sale, the director now directly owns 48,611 shares in the company, valued at $3,670,130.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Charles J. Dockendorff sold 1,465 shares of Hologic stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $76.21, for a total value of $111,647.65. Following the sale, the director now directly owns 1,572 shares in the company, valued at $119,802.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott T. Garrett sold 16,441 shares of Hologic stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $75.50, for a total transaction of $1,241,295.50. Following the completion of the sale, the director now owns 48,611 shares in the company, valued at $3,670,130.50. The disclosure for this sale can be found here. Corporate insiders own 1.75% of the company’s stock.

Institutional Trading of Hologic

Institutional investors and hedge funds have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV increased 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 worth $54,000 after buying an additional 137 shares during the last quarter. Graypoint LLC increased its stake in Hologic by 3.9% in the first quarter. Graypoint LLC now owns 3,871 shares of the medical equipment provider’s stock valued at $302,000 after acquiring an additional 147 shares during the last quarter. Deseret Mutual Benefit Administrators increased 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 purchasing an additional 155 shares during the last quarter. Arizona State Retirement System raised its stake 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 acquiring an additional 172 shares in the last quarter. Finally, Lincoln National Corp increased its position in Hologic by 4.0% during the 4th 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 in the last quarter. 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.