Hologic (NASDAQ:HOLX) Issues Earnings Results, Beats Estimates By $0.01 EPS

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

Hologic Trading Up 1.7 %

NASDAQ HOLX traded up $1.22 during mid-day trading on Wednesday, hitting $72.80. The company’s stock had a trading volume of 2,755,639 shares, compared to its average volume of 2,242,587. The stock’s fifty day simple moving average is $73.05 and its two-hundred day simple moving average is $77.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03. Hologic has a 52-week low of $68.61 and a 52-week high of $84.67. The firm has a market capitalization of $16.43 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. BNP Paribas upgraded Hologic to a “strong-buy” rating in a research note on Tuesday, December 10th. Morgan Stanley dropped their price objective on shares of Hologic from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Wolfe Research began coverage on shares of Hologic in a research note on Friday, December 13th. They issued a “peer perform” rating for the company. Needham & Company LLC downgraded shares of Hologic from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a report on Monday. Finally, Mizuho lowered their price objective on shares of Hologic from $90.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.92.

Insider Transactions at Hologic

In other Hologic news, COO Essex D. Mitchell sold 24,856 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were 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. The trade was a 47.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.88% of the company’s stock.

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.