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

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

Hologic Price Performance

Shares of HOLX opened at $83.72 on Tuesday. Hologic has a twelve month low of $66.93 and a twelve month high of $84.67. The company has a market capitalization of $19.45 billion, a P/E ratio of 28.48, a price-to-earnings-growth ratio of 2.98 and a beta of 0.98. The firm has a 50 day moving average of $80.99 and a 200 day moving average of $78.02. The company has a quick ratio of 3.32, a current ratio of 3.99 and a debt-to-equity ratio of 0.51.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HOLX. Mizuho upped their target price on Hologic from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $82.00 price target on shares of Hologic in a research note on Friday, August 16th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Hologic in a research report on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on shares of Hologic from $91.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Leerink Partners lowered their price target on shares of Hologic from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hologic presently has a consensus rating of “Moderate Buy” and an average price target of $87.50.

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.