Hologic (NASDAQ:HOLX) Releases Earnings Results, Hits Expectations

Hologic (NASDAQ:HOLX) released its quarterly earnings results on Monday. The medical equipment provider reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.01, Briefing.com reports. Hologic had a net margin of 17.59% and a return on equity of 19.53%. The business had revenue of $987.90 million for the quarter, compared to analysts’ expectations of $978.25 million. During the same period last year, the business earned $0.89 EPS. The company’s revenue was up 4.5% compared to the same quarter last year.

Hologic Price Performance

HOLX traded up $1.69 on Wednesday, hitting $80.49. 2,464,389 shares of the company’s stock were exchanged, compared to its average volume of 1,595,271. Hologic has a fifty-two week low of $66.93 and a fifty-two week high of $84.67. The company has a current ratio of 3.99, a quick ratio of 3.32 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $81.05 and a 200-day moving average price of $78.11. The stock has a market cap of $18.70 billion, a price-to-earnings ratio of 26.80, a P/E/G ratio of 2.98 and a beta of 0.98.

Wall Street Analysts Forecast Growth

HOLX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Hologic from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday. Evercore ISI lifted their target price on shares of Hologic from $78.00 to $82.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. StockNews.com cut shares of Hologic from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 27th. Mizuho lowered their target price on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Leerink Partners lowered their target price on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $89.25.

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.