Hologic (NASDAQ:HOLX) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Hologic (NASDAQ:HOLX) issued its quarterly earnings data on Wednesday. The medical equipment provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01, Zacks reports. Hologic had a net margin of 19.59% and a return on equity of 19.79%.

Hologic Price Performance

Hologic stock traded up $1.22 on Wednesday, reaching $72.80. The company’s stock had a trading volume of 2,759,807 shares, compared to its average volume of 2,261,193. The business’s fifty day moving average price is $73.05 and its 200 day moving average price is $77.98. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.03 and a current ratio of 3.69. The company has a market cap of $16.43 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 2.35 and a beta of 0.98. Hologic has a twelve month low of $68.61 and a twelve month high of $84.67.

Insider Activity at Hologic

In related news, COO Essex D. Mitchell sold 24,856 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $76.34, for a total value of $1,897,507.04. Following the transaction, the chief operating officer now owns 27,957 shares in the company, valued at $2,134,237.38. This trade represents a 47.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.88% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

HOLX has been the topic of a number of analyst reports. Needham & Company LLC lowered Hologic from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a report on Monday. BNP Paribas upgraded shares of Hologic to a “strong-buy” rating in a research note on Tuesday, December 10th. Jefferies Financial Group started coverage on shares of Hologic in a report on Tuesday, December 10th. They set a “hold” rating and a $85.00 price objective for the company. UBS Group lifted their target price on shares of Hologic from $84.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, William Blair restated an “outperform” rating on shares of Hologic in a report on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.92.

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.