Brokers Issue Forecasts for Hologic, Inc.’s Q3 2024 Earnings (NASDAQ:HOLX)

Hologic, Inc. (NASDAQ:HOLX) – Analysts at Leerink Partnrs lowered their Q3 2024 earnings per share estimates for Hologic in a research report issued to clients and investors on Thursday, May 2nd. Leerink Partnrs analyst P. Souda now expects that the medical equipment provider will post earnings per share of $1.02 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.

A number of other research analysts have also commented on the stock. Raymond James lifted their price objective on shares of Hologic from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Evercore ISI upped their price objective on Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. StockNews.com upgraded Hologic from a “hold” rating to a “buy” rating in a research note on Friday. William Blair reissued an “outperform” rating on shares of Hologic in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. increased their price target on Hologic from $85.00 to $91.00 and gave the stock an “overweight” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.56.

Hologic Stock Performance

Shares of Hologic stock opened at $76.54 on Monday. The firm’s fifty day simple moving average is $76.13 and its 200-day simple moving average is $73.05. Hologic has a 12 month low of $64.02 and a 12 month high of $86.74. The stock has a market capitalization of $17.97 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 2.59 and a beta of 1.01. 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 announced its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. Hologic had a return on equity of 18.81% and a net margin of 11.78%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 EPS.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Hologic during the 4th quarter worth about $217,529,000. The Manufacturers Life Insurance Company grew its holdings in shares of Hologic by 117.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,163,718 shares of the medical equipment provider’s stock worth $154,598,000 after buying an additional 1,168,564 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of Hologic by 117.2% in the third quarter. Qube Research & Technologies Ltd now owns 1,378,258 shares of the medical equipment provider’s stock valued at $95,651,000 after buying an additional 743,557 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Hologic in the fourth quarter valued at approximately $30,079,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Hologic by 90.4% during the third quarter. Assenagon Asset Management S.A. now owns 845,493 shares of the medical equipment provider’s stock valued at $58,677,000 after buying an additional 401,486 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

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.