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

Hologic (NASDAQ:HOLX) released its quarterly earnings data on Wednesday. The medical equipment provider reported $1.03 EPS for the quarter, beating the consensus estimate 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

HOLX stock traded up $1.22 during trading on Wednesday, reaching $72.80. 2,759,807 shares of the company were exchanged, compared to its average volume of 2,261,193. Hologic has a twelve month low of $68.61 and a twelve month high of $84.67. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.69 and a quick ratio of 3.03. The company has a market capitalization of $16.43 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 2.35 and a beta of 0.98. The company has a 50-day moving average of $73.05 and a two-hundred day moving average of $77.98.

Insider Buying and Selling at Hologic

In other news, COO Essex D. Mitchell sold 24,856 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $76.34, for a total transaction of $1,897,507.04. Following the completion of the transaction, the chief operating officer now owns 27,957 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Company insiders own 1.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HOLX. Raymond James boosted their price objective on Hologic from $93.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Morgan Stanley decreased their price target 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. Needham & Company LLC cut shares of Hologic from a “buy” rating to a “hold” rating and set a $90.00 price objective for the company. in a research note on Monday. BNP Paribas upgraded shares of Hologic to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, Wolfe Research initiated coverage on Hologic in a research note on Friday, December 13th. They issued a “peer perform” rating for the company. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.92.

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.