Zacks: Analysts Anticipate Hologic, Inc. (HOLX) Will Announce Earnings of $0.49 Per Share
Brokerages expect that Hologic, Inc. (NASDAQ:HOLX) will announce earnings of $0.49 per share for the current quarter, Zacks reports. Six analysts have made estimates for Hologic’s earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.48. Hologic reported earnings of $0.52 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 5.8%. The business is expected to report its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Hologic will report full year earnings of $2.01 per share for the current year, with EPS estimates ranging from $2.00 to $2.02. For the next year, analysts forecast that the business will post earnings of $2.18 per share, with EPS estimates ranging from $2.06 to $2.28. Zacks’ EPS averages are an average based on a survey of research analysts that cover Hologic.
Hologic (NASDAQ:HOLX) last issued its quarterly earnings data on Wednesday, August 2nd. The medical equipment provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The firm had revenue of $806.10 million during the quarter, compared to analyst estimates of $799.70 million. Hologic had a return on equity of 23.18% and a net margin of 25.65%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS.
HOLX has been the subject of several recent research reports. Canaccord Genuity reiterated a “buy” rating and set a $53.00 target price on shares of Hologic in a report on Tuesday, May 9th. Stifel Nicolaus lifted their target price on shares of Hologic from $45.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, May 11th. BTIG Research reiterated a “buy” rating and set a $47.00 target price on shares of Hologic in a report on Sunday, May 14th. Zacks Investment Research lowered shares of Hologic from a “buy” rating to a “hold” rating in a report on Tuesday, May 23rd. Finally, Jefferies Group LLC set a $49.00 target price on shares of Hologic and gave the company a “buy” rating in a report on Sunday, May 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $48.64.
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In other news, Director Lawrence M. Levy sold 2,960 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $44.54, for a total transaction of $131,838.40. Following the completion of the sale, the director now owns 45,634 shares of the company’s stock, valued at approximately $2,032,538.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Peter J. Valenti III sold 10,005 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $43.44, for a total transaction of $434,617.20. Following the sale, the insider now directly owns 20,994 shares of the company’s stock, valued at approximately $911,979.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,627 shares of company stock valued at $2,632,911. Insiders own 0.79% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its position in shares of Hologic by 418.5% in the first quarter. Victory Capital Management Inc. now owns 4,050,824 shares of the medical equipment provider’s stock valued at $172,363,000 after buying an additional 3,269,503 shares in the last quarter. American Century Companies Inc. increased its position in shares of Hologic by 229.4% in the first quarter. American Century Companies Inc. now owns 3,164,928 shares of the medical equipment provider’s stock valued at $134,668,000 after buying an additional 2,204,085 shares in the last quarter. Columbus Circle Investors purchased a new position in shares of Hologic during the second quarter valued at $54,511,000. Vanguard Group Inc. increased its position in shares of Hologic by 4.2% in the second quarter. Vanguard Group Inc. now owns 29,547,138 shares of the medical equipment provider’s stock valued at $1,340,850,000 after buying an additional 1,200,825 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Hologic by 229.7% in the second quarter. Russell Investments Group Ltd. now owns 1,059,586 shares of the medical equipment provider’s stock valued at $48,100,000 after buying an additional 738,215 shares in the last quarter. 94.46% of the stock is owned by institutional investors.
Shares of Hologic (NASDAQ:HOLX) traded up 2.17% during mid-day trading on Friday, reaching $38.20. The company’s stock had a trading volume of 3,819,623 shares. Hologic has a 12 month low of $35.15 and a 12 month high of $46.80. The company has a 50-day moving average of $43.73 and a 200-day moving average of $42.89. The company has a market cap of $10.71 billion, a P/E ratio of 14.23 and a beta of 0.90.
Hologic, Inc is a developer, manufacturer and supplier of diagnostics products, medical imaging systems and surgical products with an emphasis on women’s health. The Company operates through four segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health. The diagnostics products include Aptima family of assays, ThinPrep system, the Rapid Fetal Fibronectin Test and Procleix blood screening assays.
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