Hologic, Inc. to Post FY2022 Earnings of $3.05 Per Share, Gabelli Forecasts (HOLX)

Hologic, Inc. (NASDAQ:HOLX) – Equities research analysts at Gabelli lowered their FY2022 earnings estimates for shares of Hologic in a research report issued to clients and investors on Monday. Gabelli analyst S. Wojda now forecasts that the medical equipment provider will earn $3.05 per share for the year, down from their previous forecast of $3.25.

Hologic (NASDAQ:HOLX) last posted its earnings results on Thursday, February 8th. The medical equipment provider reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.05. Hologic had a return on equity of 20.07% and a net margin of 34.53%. The business had revenue of $791.10 million during the quarter, compared to analysts’ expectations of $785.80 million. During the same period in the previous year, the business earned $0.52 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis.

HOLX has been the subject of a number of other reports. Bank of America upgraded Hologic from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Thursday, January 4th. Goldman Sachs Group upgraded Hologic from a “buy” rating to a “conviction-buy” rating and upped their price objective for the stock from $45.00 to $50.00 in a report on Friday, December 8th. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price objective (up from $46.00) on shares of Hologic in a report on Tuesday, December 5th. Cowen upgraded Hologic to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, December 20th. Finally, Zacks Investment Research cut Hologic from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $48.00.

Hologic (NASDAQ:HOLX) traded up $0.29 during trading on Tuesday, reaching $38.04. The company had a trading volume of 4,473,200 shares, compared to its average volume of 3,002,262. Hologic has a twelve month low of $35.33 and a twelve month high of $46.80. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a market capitalization of $10,438.97, a PE ratio of 10.04, a price-to-earnings-growth ratio of 1.71 and a beta of 0.77.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HOLX. Parnassus Investments CA bought a new position in shares of Hologic in the 3rd quarter worth approximately $277,062,000. Point72 Asset Management L.P. bought a new position in shares of Hologic in the 3rd quarter worth approximately $39,041,000. Pictet Asset Management Ltd. raised its position in shares of Hologic by 50.3% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,912,338 shares of the medical equipment provider’s stock worth $106,854,000 after acquiring an additional 974,325 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Hologic by 16.8% in the 3rd quarter. Victory Capital Management Inc. now owns 5,856,778 shares of the medical equipment provider’s stock worth $214,885,000 after acquiring an additional 844,426 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Hologic by 161.9% in the 3rd quarter. First Trust Advisors LP now owns 924,576 shares of the medical equipment provider’s stock worth $33,923,000 after acquiring an additional 571,512 shares in the last quarter. 93.84% of the stock is owned by institutional investors and hedge funds.

In other Hologic news, VP Karleen Marie Oberton sold 1,023 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $39.84, for a total transaction of $40,756.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

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About Hologic

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.

Earnings History and Estimates for Hologic (NASDAQ:HOLX)

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